Citigroup Upgrades Ollie’s Bargain Outlet (NASDAQ:OLLI) to “Buy”

Citigroup upgraded shares of Ollie’s Bargain Outlet (NASDAQ:OLLI) from a sell rating to a buy rating in a report issued on Wednesday morning, Marketbeat reports. The firm currently has $133.00 price target on the stock, up from their prior price target of $64.00.

Several other research firms have also recently weighed in on OLLI. Craig Hallum upped their price objective on Ollie’s Bargain Outlet from $107.00 to $130.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Gordon Haskett upgraded 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. Truist Financial increased their target price on shares of Ollie’s Bargain Outlet from $109.00 to $121.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Bank of America boosted their price target on shares of Ollie’s Bargain Outlet from $115.00 to $130.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Finally, Piper Sandler lifted their target price on Ollie’s Bargain Outlet from $107.00 to $126.00 and gave the company an “overweight” rating in a research report on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $117.85.

Ollie’s Bargain Outlet Stock Up 0.2 %

Shares of OLLI traded up $0.20 on Wednesday, hitting $114.69. The company’s stock had a trading volume of 118,023 shares, compared to its average volume of 1,051,702. The firm’s fifty day moving average price is $97.09 and its 200-day moving average price is $95.87. Ollie’s Bargain Outlet has a fifty-two week low of $68.05 and a fifty-two week high of $118.47. The firm has a market capitalization of $7.03 billion, a price-to-earnings ratio of 34.24, a P/E/G ratio of 2.79 and a beta of 0.85.

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

Insiders Place Their Bets

In other news, SVP James J. Comitale sold 5,325 shares of the stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $113.95, for a total transaction of $606,783.75. Following the transaction, the senior vice president now owns 3,140 shares in the company, valued at approximately $357,803. This trade represents a 62.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Larry Kraus sold 10,646 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $115.58, for a total value of $1,230,464.68. Following the completion of the transaction, the senior vice president now directly owns 1,905 shares in the company, valued at approximately $220,179.90. This represents a 84.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 97,651 shares of company stock valued at $10,628,452 over the last ninety days. 0.87% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in OLLI. International Assets Investment Management LLC bought a new stake in shares of Ollie’s Bargain Outlet in the second quarter valued at approximately $25,000. Crewe Advisors LLC bought a new position in shares of Ollie’s Bargain Outlet in the second quarter worth $36,000. GAMMA Investing LLC raised its stake in Ollie’s Bargain Outlet by 37.9% in the third quarter. GAMMA Investing LLC now owns 651 shares of the company’s stock valued at $63,000 after purchasing an additional 179 shares in the last quarter. Northwest & Ethical Investments L.P. bought a new stake in Ollie’s Bargain Outlet during the third quarter worth about $117,000. Finally, LRI Investments LLC grew its stake in Ollie’s Bargain Outlet by 2,356.1% during the third quarter. LRI Investments LLC now owns 1,400 shares of the company’s stock worth $130,000 after buying an additional 1,343 shares in 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.