Ollie’s Bargain Outlet (OLLI) Stock Rating Upgraded by ValuEngine

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ValuEngine upgraded shares of Ollie’s Bargain Outlet (NASDAQ:OLLI) from a buy rating to a strong-buy rating in a report issued on Friday morning.

Several other brokerages also recently issued reports on OLLI. Loop Capital upped their price target on shares of Ollie’s Bargain Outlet to $85.00 and gave the company a hold rating in a report on Friday. Royal Bank of Canada upped their price target on shares of Ollie’s Bargain Outlet to $95.00 and gave the company an outperform rating in a report on Thursday. Stephens upped their price target on shares of Ollie’s Bargain Outlet from $70.00 to $100.00 and gave the company an overweight rating in a report on Thursday. Morgan Stanley set a $75.00 price target on shares of Ollie’s Bargain Outlet and gave the company an equal weight rating in a report on Thursday. Finally, Wells Fargo & Co upped their price target on shares of Ollie’s Bargain Outlet from $68.00 to $86.00 and gave the company a market perform rating in a report on Thursday. Seven investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the stock. Ollie’s Bargain Outlet presently has an average rating of Buy and a consensus target price of $84.69.

Shares of NASDAQ OLLI traded up $4.55 on Friday, hitting $92.50. The company’s stock had a trading volume of 1,292,658 shares, compared to its average volume of 612,396. Ollie’s Bargain Outlet has a 12-month low of $42.36 and a 12-month high of $92.75. The company has a market capitalization of $5.48 billion, a PE ratio of 74.00, a price-to-earnings-growth ratio of 2.18 and a beta of 0.26. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.51 and a quick ratio of 0.25.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last announced its quarterly earnings results on Wednesday, September 5th. The company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.04. Ollie’s Bargain Outlet had a net margin of 12.88% and a return on equity of 12.48%. The company had revenue of $288.10 million for the quarter, compared to the consensus estimate of $284.19 million. During the same quarter in the prior year, the firm earned $0.27 earnings per share. The company’s revenue for the quarter was up 13.1% compared to the same quarter last year. analysts forecast that Ollie’s Bargain Outlet will post 1.75 EPS for the current fiscal year.

In related news, COO John W. Swygert sold 51,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 8th. The shares were sold at an average price of $70.01, for a total transaction of $3,570,510.00. Following the transaction, the chief operating officer now owns 57,193 shares of the company’s stock, valued at $4,004,081.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Mark L. Butler sold 375,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 20th. The shares were sold at an average price of $74.90, for a total transaction of $28,087,500.00. Following the transaction, the chief executive officer now directly owns 3,678,372 shares in the company, valued at approximately $275,510,062.80. The disclosure for this sale can be found here. Insiders have sold 1,985,490 shares of company stock worth $143,390,525 in the last three months. Insiders own 20.27% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Point72 Asia Hong Kong Ltd purchased a new position in shares of Ollie’s Bargain Outlet during the first quarter valued at approximately $112,000. Cerebellum GP LLC purchased a new position in shares of Ollie’s Bargain Outlet during the second quarter valued at approximately $178,000. Cim LLC purchased a new position in shares of Ollie’s Bargain Outlet during the second quarter valued at approximately $204,000. Zeke Capital Advisors LLC purchased a new position in shares of Ollie’s Bargain Outlet during the second quarter valued at approximately $212,000. Finally, Verition Fund Management LLC purchased a new position in shares of Ollie’s Bargain Outlet during the second quarter valued at approximately $214,000. 89.04% of the stock is currently owned by institutional investors and hedge funds.

About Ollie’s Bargain Outlet

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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

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