Ollie’s Bargain Outlet (NASDAQ:OLLI) Price Target Raised to $133.00 at Royal Bank of Canada

Ollie’s Bargain Outlet (NASDAQ:OLLI) had its price target lifted by Royal Bank of Canada from $130.00 to $133.00 in a report published on Friday,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

A number of other equities analysts have also recently weighed in on the company. Jefferies Financial Group cut Ollie’s Bargain Outlet from a “buy” rating to a “hold” rating and reduced their price target for the stock from $125.00 to $111.00 in a report on Tuesday, February 4th. Bank of America increased their target price on Ollie’s Bargain Outlet from $115.00 to $130.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. JPMorgan Chase & Co. boosted their price target on shares of Ollie’s Bargain Outlet from $105.00 to $135.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. Citigroup upgraded shares of Ollie’s Bargain Outlet from a “sell” rating to a “buy” rating and upped their price objective for the stock from $64.00 to $133.00 in a research report on Wednesday, December 18th. Finally, Truist Financial lifted 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, December 11th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, Ollie’s Bargain Outlet presently has a consensus rating of “Moderate Buy” and a consensus price target of $118.29.

Ollie’s Bargain Outlet Price Performance

Shares of NASDAQ OLLI opened at $103.03 on Friday. The stock has a market capitalization of $6.31 billion, a price-to-earnings ratio of 30.76, a PEG ratio of 2.21 and a beta of 0.81. The firm’s 50 day simple moving average is $106.28 and its 200-day simple moving average is $100.90. Ollie’s Bargain Outlet has a 12 month low of $68.05 and a 12 month high of $120.03.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last released its quarterly earnings results on Tuesday, December 10th. The company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.57 by $0.01. The company had revenue of $517.43 million for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the business earned $0.51 earnings per share. Analysts anticipate 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 business’s stock in a transaction dated Wednesday, December 11th. The shares were 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 of the company’s stock, valued at approximately $357,803. The trade was a 62.91 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Larry Kraus sold 10,646 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $115.58, for a total transaction of $1,230,464.68. Following the completion of the sale, the senior vice president now directly owns 1,905 shares of the company’s stock, valued at $220,179.90. This represents a 84.82 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 76,539 shares of company stock valued at $8,498,935. Insiders own 0.87% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in OLLI. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Ollie’s Bargain Outlet by 489.7% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 230 shares of the company’s stock valued at $25,000 after purchasing an additional 191 shares during the period. Wilmington Savings Fund Society FSB increased its position in shares of Ollie’s Bargain Outlet by 337.0% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 236 shares of the company’s stock worth $26,000 after purchasing an additional 182 shares during the last quarter. Bogart Wealth LLC acquired a new position in Ollie’s Bargain Outlet in the fourth quarter valued at about $26,000. Blue Trust Inc. boosted its stake in Ollie’s Bargain Outlet by 55.2% during the fourth quarter. Blue Trust Inc. now owns 284 shares of the company’s stock worth $31,000 after buying an additional 101 shares during the period. Finally, Brown Brothers Harriman & Co. acquired a new stake in shares of Ollie’s Bargain Outlet during the fourth quarter valued at about $33,000.

Ollie’s Bargain Outlet Company Profile

Ollie’s Bargain Outlet Holdings, Inc is a holding company, which engages in the retail of closeouts, excess inventory, and salvage merchandise. It offers overstocks, package changes, manufacturer refurbished goods, and irregulars. The company’s products include housewares, food, books and stationery, bed and bath, floor coverings, electronics and toys.