Bank of America Issues Positive Forecast for Ollie’s Bargain Outlet (NASDAQ:OLLI) Stock Price

Ollie’s Bargain Outlet (NASDAQ:OLLI) had its price objective increased by analysts at Bank of America from $115.00 to $130.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Bank of America‘s target price suggests a potential upside of 13.54% from the company’s previous close.

A number of other brokerages also recently issued reports on OLLI. JPMorgan Chase & Co. decreased their price target on 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. StockNews.com lowered shares of Ollie’s Bargain Outlet from a “hold” rating to a “sell” rating in a research report on Tuesday, October 22nd. Craig Hallum upped their price objective on shares of Ollie’s Bargain Outlet from $107.00 to $130.00 and gave the stock a “buy” rating in a research report on Wednesday. Gordon Haskett upgraded Ollie’s Bargain Outlet from an “accumulate” rating to a “buy” rating and lifted their price target for the company from $105.00 to $107.00 in a research note on Monday, August 26th. Finally, Truist Financial boosted 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 research note on Wednesday. One analyst has rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $112.42.

Ollie’s Bargain Outlet Price Performance

Shares of OLLI stock traded up $3.48 during mid-day trading on Wednesday, hitting $114.50. The company had a trading volume of 784,660 shares, compared to its average volume of 1,043,873. Ollie’s Bargain Outlet has a 52-week low of $68.05 and a 52-week high of $115.98. The stock’s 50 day moving average price is $95.30 and its 200-day moving average price is $94.70. The company has a market capitalization of $7.02 billion, a P/E ratio of 34.68, a P/E/G ratio of 2.53 and a beta of 0.85.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last issued its earnings results 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. Ollie’s Bargain Outlet had a net margin of 9.19% and a return on equity of 13.27%. The company had revenue of $517.43 million for the quarter, compared to analysts’ expectations of $518.83 million. During the same period in the prior year, the business earned $0.51 EPS. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. On average, equities research analysts expect that Ollie’s Bargain Outlet will post 3.27 earnings per share for the current year.

Insider Transactions at Ollie’s Bargain Outlet

In other Ollie’s Bargain Outlet news, CEO John W. Swygert sold 2,400 shares of Ollie’s Bargain Outlet stock in a transaction on Friday, December 6th. The shares were sold at an average price of $102.54, for a total value of $246,096.00. Following the completion of the transaction, the chief executive officer now owns 48,200 shares of the company’s stock, valued at $4,942,428. The trade was a 4.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Robert F. Helm sold 2,401 shares of Ollie’s Bargain Outlet stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $94.68, for a total transaction of $227,326.68. Following the completion of the transaction, the chief financial officer now directly owns 2,021 shares of the company’s stock, valued at $191,348.28. This trade represents a 54.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 36,112 shares of company stock valued at $3,614,366. Insiders own 0.87% of the company’s stock.

Institutional Investors Weigh In On Ollie’s Bargain Outlet

A number of institutional investors have recently bought and sold shares of OLLI. International Assets Investment Management LLC acquired a new stake in Ollie’s Bargain Outlet in the 2nd quarter worth approximately $25,000. Crewe Advisors LLC acquired a new stake in shares of Ollie’s Bargain Outlet in the second quarter worth $36,000. GAMMA Investing LLC boosted its holdings in shares of Ollie’s Bargain Outlet by 37.9% during the 3rd quarter. GAMMA Investing LLC now owns 651 shares of the company’s stock worth $63,000 after buying an additional 179 shares during the period. Northwest & Ethical Investments L.P. acquired a new position in Ollie’s Bargain Outlet during the 3rd quarter worth $117,000. Finally, LRI Investments LLC boosted its stake in Ollie’s Bargain Outlet by 2,356.1% during the 3rd quarter. LRI Investments LLC now owns 1,400 shares of the company’s stock valued at $130,000 after purchasing an additional 1,343 shares during the period.

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.