Bank of America Upgrades Ollie’s Bargain Outlet (OLLI) to Buy

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Bank of America upgraded shares of Ollie’s Bargain Outlet (NASDAQ:OLLI) from an underperform rating to a buy rating in a research report released on Monday morning, Marketbeat.com reports.

A number of other research analysts also recently issued reports on the company. Morgan Stanley upped their price objective on Ollie’s Bargain Outlet from $63.00 to $69.00 and gave the company an equal weight rating in a research note on Tuesday, July 17th. JPMorgan Chase & Co. upped their price objective on Ollie’s Bargain Outlet from $70.00 to $84.00 and gave the company an overweight rating in a research note on Tuesday, May 22nd. Citigroup upgraded Ollie’s Bargain Outlet from a sell rating to a neutral rating and set a $75.00 price objective for the company in a research note on Monday, July 9th. KeyCorp reduced their price objective on Ollie’s Bargain Outlet from $80.00 to $68.00 and set an overweight rating for the company in a research note on Wednesday, June 6th. Finally, BidaskClub upgraded Ollie’s Bargain Outlet from a buy rating to a strong-buy rating in a research note on Friday, July 20th. Seven analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus price target of $69.81.

Shares of NASDAQ:OLLI opened at $77.65 on Monday. The firm has a market capitalization of $4.45 billion, a price-to-earnings ratio of 62.12, a price-to-earnings-growth ratio of 1.81 and a beta of 0.11. The company has a quick ratio of 0.25, a current ratio of 2.18 and a debt-to-equity ratio of 0.02. Ollie’s Bargain Outlet has a 1 year low of $41.31 and a 1 year high of $77.95.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last announced its quarterly earnings data on Tuesday, June 5th. The company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.04. The firm had revenue of $275.70 million during the quarter, compared to the consensus estimate of $267.27 million. Ollie’s Bargain Outlet had a return on equity of 12.06% and a net margin of 12.36%. The business’s revenue for the quarter was up 21.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.25 EPS. equities analysts forecast that Ollie’s Bargain Outlet will post 1.71 EPS for the current fiscal year.

In other news, SVP Kevin Mclain sold 12,667 shares of the company’s stock in a transaction on Monday, June 11th. The stock was sold at an average price of $72.64, for a total transaction of $920,130.88. Following the transaction, the senior vice president now owns 5,750 shares of the company’s stock, valued at approximately $417,680. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO John W. Swygert sold 51,000 shares of the company’s stock in a transaction on Wednesday, August 8th. The shares were sold at an average price of $70.01, for a total value of $3,570,510.00. Following the transaction, the chief operating officer now directly owns 57,193 shares in the company, valued at approximately $4,004,081.93. The disclosure for this sale can be found here. Insiders have sold a total of 1,918,740 shares of company stock worth $137,816,742 in the last ninety days. Insiders own 20.27% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of OLLI. Wasatch Advisors Inc. lifted its holdings in Ollie’s Bargain Outlet by 2.8% during the 1st quarter. Wasatch Advisors Inc. now owns 2,947,715 shares of the company’s stock worth $177,747,000 after purchasing an additional 79,015 shares in the last quarter. Hennessy Advisors Inc. purchased a new stake in Ollie’s Bargain Outlet during the 1st quarter worth about $717,000. Rhumbline Advisers lifted its holdings in Ollie’s Bargain Outlet by 2.6% during the 1st quarter. Rhumbline Advisers now owns 112,329 shares of the company’s stock worth $6,773,000 after purchasing an additional 2,819 shares in the last quarter. D.B. Root & Company LLC purchased a new stake in Ollie’s Bargain Outlet during the 1st quarter worth about $271,000. Finally, West Branch Capital LLC purchased a new stake in Ollie’s Bargain Outlet during the 1st quarter worth about $464,000. 88.88% of the stock is currently owned by hedge funds and other institutional investors.

Ollie’s Bargain Outlet Company Profile

Ollie's Bargain Outlet Holdings, Inc operates as a retailer of brand name merchandise. The company offers food products, housewares, books and stationery, bed and bath products, floor coverings, electronics, and toys; and other products, including hardware, personal health care, candy, clothing, sporting, pet and lawn, and garden products.

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Analyst Recommendations for Ollie`s Bargain Outlet (NASDAQ:OLLI)

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