Ollie’s Bargain Outlet’s (OLLI) “Buy” Rating Reaffirmed at Truist Financial

Truist Financial reissued their buy rating on shares of Ollie’s Bargain Outlet (NASDAQ:OLLI) in a research note published on Monday, Benzinga reports. Truist Financial currently has a $102.00 price objective on the stock.

Other analysts have also recently issued reports about the company. Bank of America upped their target price on Ollie’s Bargain Outlet from $92.00 to $102.00 and gave the company a buy rating in a report on Thursday, June 6th. Craig Hallum upped their price objective on shares of Ollie’s Bargain Outlet from $100.00 to $105.00 and gave the company a buy rating in a research note on Thursday, June 6th. Royal Bank of Canada lifted their target price on shares of Ollie’s Bargain Outlet from $86.00 to $101.00 and gave the stock an outperform rating in a research note on Thursday, June 6th. Wells Fargo & Company boosted their target price on shares of Ollie’s Bargain Outlet from $85.00 to $100.00 and gave the company an overweight rating in a report on Thursday, June 6th. Finally, Piper Sandler increased their price target on Ollie’s Bargain Outlet from $100.00 to $107.00 and gave the stock an overweight rating in a report on Tuesday, June 25th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $101.50.

Ollie’s Bargain Outlet Stock Performance

Shares of NASDAQ OLLI opened at $96.92 on Monday. The firm has a 50 day moving average price of $83.51 and a two-hundred day moving average price of $77.79. The stock has a market cap of $5.93 billion, a P/E ratio of 30.57, a price-to-earnings-growth ratio of 2.67 and a beta of 0.90. Ollie’s Bargain Outlet has a 52-week low of $60.26 and a 52-week high of $100.44.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last posted its quarterly earnings data on Wednesday, June 5th. The company reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.08. The business had revenue of $508.82 million during the quarter, compared to the consensus estimate of $506.49 million. Ollie’s Bargain Outlet had a return on equity of 13.22% and a net margin of 9.14%. Ollie’s Bargain Outlet’s quarterly revenue was up 10.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.49 earnings per share. Analysts predict that Ollie’s Bargain Outlet will post 3.26 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Thomas Hendrickson sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, April 18th. The stock was sold at an average price of $72.29, for a total transaction of $361,450.00. Following the transaction, the director now directly owns 5,659 shares of the company’s stock, valued at approximately $409,089.11. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, SVP Kevin Mclain sold 11,340 shares of the business’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $85.75, for a total transaction of $972,405.00. Following the completion of the sale, the senior vice president now directly owns 10,610 shares of the company’s stock, valued at $909,807.50. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Thomas Hendrickson sold 5,000 shares of the firm’s stock in a transaction dated Thursday, April 18th. The shares were sold at an average price of $72.29, for a total transaction of $361,450.00. Following the completion of the transaction, the director now directly owns 5,659 shares in the company, valued at approximately $409,089.11. The disclosure for this sale can be found here. Insiders sold a total of 37,384 shares of company stock worth $3,211,937 in the last three months. Company insiders own 0.87% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Venturi Wealth Management LLC increased its stake in Ollie’s Bargain Outlet by 194.3% in the 1st quarter. Venturi Wealth Management LLC now owns 309 shares of the company’s stock valued at $25,000 after buying an additional 204 shares during the last quarter. ORG Partners LLC bought a new position in shares of Ollie’s Bargain Outlet in the first quarter valued at approximately $28,000. Blue Bell Private Wealth Management LLC purchased a new stake in shares of Ollie’s Bargain Outlet during the first quarter valued at approximately $29,000. GAMMA Investing LLC lifted its holdings in Ollie’s Bargain Outlet by 686.7% during the second quarter. GAMMA Investing LLC now owns 472 shares of the company’s stock worth $46,000 after acquiring an additional 412 shares during the period. Finally, YHB Investment Advisors Inc. purchased a new position in Ollie’s Bargain Outlet in the first quarter worth $48,000.

Ollie’s Bargain Outlet Company Profile

Ollie's Bargain Outlet Holdings, Inc operates as a retailer of brand name merchandise in the United States. The company offers housewares, bed and bath, food, floor coverings, health and beauty aids, books and stationery, toys, and electronics; and other products, including hardware, candy, clothing, sporting goods, pet and lawn, and garden products.