Ollie’s Bargain Outlet (NASDAQ:OLLI) Price Target Raised to $135.00

Ollie’s Bargain Outlet (NASDAQ:OLLI) had its price target boosted by JPMorgan Chase & Co. from $105.00 to $135.00 in a research note published on Wednesday,Benzinga reports. They currently have an overweight rating on the stock.

Other research analysts also recently issued research reports about the stock. Truist Financial raised their target price on shares of Ollie’s Bargain Outlet from $109.00 to $121.00 and gave the company a “buy” rating in a research report on Wednesday. Gordon Haskett raised shares of Ollie’s Bargain Outlet from an “accumulate” rating to a “buy” rating and lifted their price objective for the company from $105.00 to $107.00 in a report on Monday, August 26th. UBS Group upped their target price on Ollie’s Bargain Outlet from $97.00 to $99.00 and gave the stock a “neutral” rating in a report on Friday, August 30th. Bank of America lifted their price target on Ollie’s Bargain Outlet from $115.00 to $130.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Wells Fargo & Company cut Ollie’s Bargain Outlet from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $100.00 to $95.00 in a research note on Tuesday, December 3rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Ollie’s Bargain Outlet currently has a consensus rating of “Moderate Buy” and a consensus price target of $116.58.

Ollie’s Bargain Outlet Stock Performance

Ollie’s Bargain Outlet stock opened at $112.77 on Wednesday. Ollie’s Bargain Outlet has a fifty-two week low of $68.05 and a fifty-two week high of $115.98. The company has a market capitalization of $6.91 billion, a PE ratio of 33.66, a P/E/G ratio of 2.81 and a beta of 0.85. The company has a 50 day moving average price of $96.26 and a 200-day moving average price of $95.19.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last issued its earnings results on Tuesday, December 10th. The company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.01. The business had revenue of $517.43 million during the quarter, compared to analysts’ expectations of $518.83 million. Ollie’s Bargain Outlet had a return on equity of 13.15% and a net margin of 9.22%. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.51 EPS. On average, analysts forecast that Ollie’s Bargain Outlet will post 3.29 earnings per share for the current year.

Insiders Place Their Bets

In other news, President Der Valk Eric Van sold 7,479 shares of Ollie’s Bargain Outlet stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $100.32, for a total transaction of $750,293.28. Following the completion of the sale, the president now directly owns 5,615 shares in the company, valued at approximately $563,296.80. The trade was a 57.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO John W. Swygert sold 4,032 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $102.51, for a total value of $413,320.32. Following the completion of the transaction, the chief executive officer now directly owns 48,200 shares in the company, valued at approximately $4,940,982. The trade was a 7.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 95,755 shares of company stock valued at $10,165,712. 0.87% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Cetera Advisors LLC acquired a new position in Ollie’s Bargain Outlet in the 1st quarter worth approximately $228,000. Diversified Trust Co lifted its position in Ollie’s Bargain Outlet by 30.1% during the second quarter. Diversified Trust Co now owns 5,838 shares of the company’s stock valued at $573,000 after purchasing an additional 1,350 shares during the period. Wealth Enhancement Advisory Services LLC purchased a new stake in Ollie’s Bargain Outlet in the second quarter valued at $362,000. Envestnet Portfolio Solutions Inc. grew its position in Ollie’s Bargain Outlet by 31.7% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 5,208 shares of the company’s stock worth $511,000 after purchasing an additional 1,254 shares during the period. Finally, Portside Wealth Group LLC raised its stake in shares of Ollie’s Bargain Outlet by 41.3% during the 2nd quarter. Portside Wealth Group LLC now owns 12,299 shares of the company’s stock valued at $1,207,000 after buying an additional 3,596 shares during the last quarter.

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.