Loop Capital Reaffirms “Buy” Rating for Ollie’s Bargain Outlet (NASDAQ:OLLI)

Ollie’s Bargain Outlet (NASDAQ:OLLI)‘s stock had its “buy” rating reaffirmed by equities research analysts at Loop Capital in a report issued on Friday, Benzinga reports. They presently have a $110.00 price target on the stock. Loop Capital’s price target indicates a potential upside of 11.12% from the stock’s current price.

A number of other research firms have also weighed in on OLLI. JPMorgan Chase & Co. cut their target price on shares of Ollie’s Bargain Outlet from $113.00 to $105.00 and set an “overweight” rating for the company in a report on Friday, August 30th. Royal Bank of Canada reduced their target price on shares of Ollie’s Bargain Outlet from $101.00 to $100.00 and set an “outperform” rating on the stock in a report on Friday, August 30th. Truist Financial increased their price target on shares of Ollie’s Bargain Outlet from $102.00 to $109.00 and gave the company a “buy” rating in a report on Friday, July 12th. Piper Sandler reissued an “overweight” rating and set a $107.00 price objective on shares of Ollie’s Bargain Outlet in a research note on Friday, August 30th. Finally, Wells Fargo & Company raised their target price on shares of Ollie’s Bargain Outlet from $85.00 to $100.00 and gave the stock an “overweight” rating in a report on Thursday, June 6th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $103.33.

Ollie’s Bargain Outlet Stock Up 1.2 %

Shares of OLLI stock opened at $98.99 on Friday. The stock has a market cap of $6.06 billion, a P/E ratio of 31.23, a PEG ratio of 2.48 and a beta of 0.84. The company’s fifty day simple moving average is $95.41 and its two-hundred day simple moving average is $86.18. Ollie’s Bargain Outlet has a 52 week low of $68.05 and a 52 week high of $104.98.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last posted its earnings results on Thursday, August 29th. The company reported $0.78 EPS for the quarter, hitting analysts’ consensus estimates of $0.78. The company had revenue of $578.38 million for the quarter, compared to the consensus estimate of $561.60 million. Ollie’s Bargain Outlet had a return on equity of 13.27% and a net margin of 9.19%. The firm’s revenue for the quarter was up 12.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.67 earnings per share. On average, analysts anticipate that Ollie’s Bargain Outlet will post 3.28 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Kevin Mclain sold 15,000 shares of Ollie’s Bargain Outlet stock in a transaction on Monday, September 16th. The stock was sold at an average price of $98.99, for a total value of $1,484,850.00. Following the transaction, the senior vice president now directly owns 10,610 shares in the company, valued at approximately $1,050,283.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Ollie’s Bargain Outlet news, SVP James J. Comitale sold 2,153 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $104.17, for a total value of $224,278.01. Following the completion of the sale, the senior vice president now directly owns 2,732 shares in the company, valued at $284,592.44. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Kevin Mclain sold 15,000 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $98.99, for a total value of $1,484,850.00. Following the transaction, the senior vice president now directly owns 10,610 shares in the company, valued at $1,050,283.90. The disclosure for this sale can be found here. 0.87% of the stock is owned by company insiders.

Institutional Trading of Ollie’s Bargain Outlet

A number of institutional investors have recently made changes to their positions in OLLI. Sei Investments Co. raised its stake in Ollie’s Bargain Outlet by 15.3% in the first quarter. Sei Investments Co. now owns 207,554 shares of the company’s stock valued at $16,515,000 after buying an additional 27,531 shares during the last quarter. CHURCHILL MANAGEMENT Corp acquired a new stake in Ollie’s Bargain Outlet in the 1st quarter worth approximately $1,621,000. Wells Fargo & Company MN grew its position in Ollie’s Bargain Outlet by 8.2% during the 4th quarter. Wells Fargo & Company MN now owns 200,720 shares of the company’s stock worth $15,233,000 after purchasing an additional 15,187 shares during the last quarter. Axxcess Wealth Management LLC acquired a new position in Ollie’s Bargain Outlet during the 1st quarter valued at approximately $841,000. Finally, Meeder Asset Management Inc. purchased a new position in shares of Ollie’s Bargain Outlet in the first quarter worth $529,000.

About Ollie’s Bargain Outlet

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.