Royal Bank of Canada Downgrades Ollie’s Bargain Outlet (OLLI) to Sector Perform

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Ollie’s Bargain Outlet (NASDAQ:OLLI) was downgraded by analysts at Royal Bank of Canada from an “outperform” rating to a “sector perform” rating in a note issued to investors on Monday, Marketbeat Ratings reports. They presently have a $95.00 price target on the stock. Royal Bank of Canada’s price objective indicates a potential upside of 6.16% from the company’s previous close. The analysts noted that the move was a valuation call.

Several other research firms also recently issued reports on OLLI. KeyCorp boosted their price objective on Ollie’s Bargain Outlet from $100.00 to $108.00 and gave the company a “positive” rating in a report on Monday, October 1st. BidaskClub upgraded Ollie’s Bargain Outlet from a “buy” rating to a “strong-buy” rating in a report on Wednesday, October 3rd. ValuEngine upgraded Ollie’s Bargain Outlet from a “buy” rating to a “strong-buy” rating in a report on Friday, September 7th. Zacks Investment Research upgraded Ollie’s Bargain Outlet from a “hold” rating to a “buy” rating and set a $99.00 price objective on the stock in a report on Monday, September 10th. Finally, Morgan Stanley set a $82.00 price objective on Ollie’s Bargain Outlet and gave the company a “hold” rating in a report on Monday, October 22nd. Seven research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Ollie’s Bargain Outlet currently has a consensus rating of “Buy” and an average price target of $88.25.

Shares of Ollie’s Bargain Outlet stock opened at $89.49 on Monday. Ollie’s Bargain Outlet has a 52 week low of $42.36 and a 52 week high of $97.61. The firm has a market capitalization of $5.81 billion, a PE ratio of 71.59, a price-to-earnings-growth ratio of 2.12 and a beta of 0.37. The company has a current ratio of 2.51, a quick ratio of 0.31 and a debt-to-equity ratio of 0.01.

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

In other Ollie’s Bargain Outlet news, CEO Mark L. Butler sold 90,000 shares of the company’s stock in a transaction dated Wednesday, October 3rd. The stock was sold at an average price of $94.49, for a total transaction of $8,504,100.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Jay Stasz sold 5,337 shares of the company’s stock in a transaction dated Thursday, September 13th. The stock was sold at an average price of $91.16, for a total value of $486,520.92. Following the sale, the chief financial officer now owns 12,733 shares in the company, valued at approximately $1,160,740.28. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 342,087 shares of company stock worth $30,931,503. 20.27% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of OLLI. LPL Financial LLC purchased a new stake in Ollie’s Bargain Outlet during the 1st quarter worth about $287,000. Legal & General Group Plc increased its holdings in shares of Ollie’s Bargain Outlet by 2.5% in the 1st quarter. Legal & General Group Plc now owns 101,141 shares of the company’s stock valued at $6,051,000 after acquiring an additional 2,458 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of Ollie’s Bargain Outlet by 2.9% in the 1st quarter. Principal Financial Group Inc. now owns 411,158 shares of the company’s stock valued at $24,793,000 after acquiring an additional 11,451 shares during the last quarter. Cim LLC purchased a new position in shares of Ollie’s Bargain Outlet in the 2nd quarter valued at about $204,000. Finally, Campbell & CO Investment Adviser LLC purchased a new position in shares of Ollie’s Bargain Outlet in the 2nd quarter valued at about $609,000. Institutional investors own 88.78% of the company’s stock.

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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