Wells Fargo & Company Issues Positive Forecast for Ollie’s Bargain Outlet (NASDAQ:OLLI) Stock Price

Ollie’s Bargain Outlet (NASDAQ:OLLI) had its price objective increased by equities research analysts at Wells Fargo & Company from $95.00 to $105.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target suggests a potential downside of 8.21% from the stock’s current price.

Several other analysts also recently issued reports on the stock. Royal Bank of Canada raised their price objective on shares of Ollie’s Bargain Outlet from $120.00 to $130.00 and gave the stock an “outperform” rating in a research note on Wednesday. Craig Hallum raised 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 note on Wednesday. Truist Financial raised their price objective 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. Piper Sandler raised their price objective on shares of Ollie’s Bargain Outlet from $107.00 to $126.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, UBS Group raised their price objective on shares of Ollie’s Bargain Outlet from $97.00 to $99.00 and gave the stock a “neutral” rating in a research note on Friday, August 30th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $116.58.

Ollie’s Bargain Outlet Stock Performance

Shares of OLLI traded up $3.37 during midday trading on Wednesday, hitting $114.39. 1,253,880 shares of the company traded hands, compared to its average volume of 1,045,937. The firm has a 50 day moving average of $95.30 and a 200-day moving average of $94.70. Ollie’s Bargain Outlet has a 52 week low of $68.05 and a 52 week high of $115.98. The stock has a market cap of $7.02 billion, a price-to-earnings ratio of 34.88, a PEG ratio of 2.53 and a beta of 0.85.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last announced its quarterly earnings results on Tuesday, December 10th. The company reported $0.58 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $517.43 million during the quarter, compared to the consensus estimate of $518.83 million. During the same quarter last year, the firm earned $0.51 EPS. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. Sell-side analysts predict that Ollie’s Bargain Outlet will post 3.27 earnings per share for the current fiscal year.

Insider Activity at Ollie’s Bargain Outlet

In other Ollie’s Bargain Outlet news, CEO John W. Swygert sold 4,032 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 48,200 shares in the company, valued at $4,940,982. This trade represents a 7.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Kevin Mclain sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $98.99, for a total transaction of $1,484,850.00. Following the completion of the sale, the senior vice president now owns 10,610 shares of the company’s stock, valued at approximately $1,050,283.90. This trade represents a 58.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 36,112 shares of company stock valued at $3,614,366 over the last ninety days. 0.87% of the stock is owned by company insiders.

Institutional Investors Weigh In On Ollie’s Bargain Outlet

Institutional investors and hedge funds have recently made changes to their positions in the stock. International Assets Investment Management LLC acquired a new stake in shares of Ollie’s Bargain Outlet during the second quarter worth $25,000. Crewe Advisors LLC acquired a new position in Ollie’s Bargain Outlet during the second quarter valued at $36,000. GAMMA Investing LLC lifted its position in Ollie’s Bargain Outlet by 37.9% during 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 during the period. Northwest & Ethical Investments L.P. acquired a new position in Ollie’s Bargain Outlet during the third quarter valued at $117,000. Finally, LRI Investments LLC lifted its position 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 valued at $130,000 after purchasing an additional 1,343 shares during the period.

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.