Bank of America restated their buy rating on shares of Ollie’s Bargain Outlet (NASDAQ:OLLI) in a research report sent to investors on Wednesday morning. The brokerage currently has a $87.00 target price on the stock, down from their previous target price of $98.00.
Several other research analysts also recently issued reports on OLLI. BidaskClub downgraded Ollie’s Bargain Outlet from a strong-buy rating to a buy rating in a research note on Friday, September 14th. KeyCorp increased their target price on shares of Ollie’s Bargain Outlet from $100.00 to $108.00 and gave the company a positive rating in a research report on Monday, October 1st. Morgan Stanley set a $82.00 target price on shares of Ollie’s Bargain Outlet and gave the company a hold rating in a research report on Monday, October 22nd. Royal Bank of Canada downgraded shares of Ollie’s Bargain Outlet from an outperform rating to a sector perform rating and set a $95.00 target price for the company. in a research report on Monday, November 5th. They noted that the move was a valuation call. Finally, ValuEngine downgraded shares of Ollie’s Bargain Outlet from a strong-buy rating to a buy rating in a research report on Thursday, December 6th. Seven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus target price of $88.73.
Shares of Ollie’s Bargain Outlet stock traded up $0.02 on Wednesday, hitting $76.51. The stock had a trading volume of 2,086,959 shares, compared to its average volume of 1,104,860. Ollie’s Bargain Outlet has a twelve month low of $50.65 and a twelve month high of $97.61. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.03 and a quick ratio of 0.07. The company has a market capitalization of $4.77 billion, a P/E ratio of 61.21, a P/E/G ratio of 1.73 and a beta of 0.87.
Ollie’s Bargain Outlet (NASDAQ:OLLI) last released its quarterly earnings data on Tuesday, December 4th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.01. Ollie’s Bargain Outlet had a return on equity of 12.66% and a net margin of 12.89%. The company had revenue of $283.60 million during the quarter, compared to the consensus estimate of $278.62 million. During the same quarter in the prior year, the firm posted $0.22 earnings per share. The firm’s revenue was up 19.1% compared to the same quarter last year. Equities analysts anticipate that Ollie’s Bargain Outlet will post 1.77 EPS for the current year.
In related news, CEO Mark L. Butler sold 90,000 shares of the stock in a transaction on Monday, November 5th. The stock was sold at an average price of $91.24, for a total value of $8,211,600.00. Following the transaction, the chief executive officer now directly owns 2,810,242 shares in the company, valued at approximately $256,406,480.08. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Kenneth Robert Bertram sold 9,000 shares of the stock in a transaction on Monday, November 12th. The stock was sold at an average price of $91.32, for a total value of $821,880.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 330,000 shares of company stock valued at $29,783,680. Insiders own 20.27% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the stock. Harvest Fund Management Co. Ltd lifted its stake in Ollie’s Bargain Outlet by 290.0% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 1,568 shares of the company’s stock valued at $151,000 after acquiring an additional 1,166 shares in the last quarter. Parallel Advisors LLC lifted its stake in Ollie’s Bargain Outlet by 414.7% during the 3rd quarter. Parallel Advisors LLC now owns 1,750 shares of the company’s stock valued at $168,000 after acquiring an additional 1,410 shares in the last quarter. Glenmede Trust Co. NA raised its stake in shares of Ollie’s Bargain Outlet by 92.8% during the 3rd quarter. Glenmede Trust Co. NA now owns 1,897 shares of the company’s stock worth $181,000 after purchasing an additional 913 shares during the period. Norris Perne & French LLP MI bought a new stake in shares of Ollie’s Bargain Outlet during the 3rd quarter worth $203,000. Finally, Verition Fund Management LLC bought a new stake in shares of Ollie’s Bargain Outlet during the 2nd quarter worth $214,000. Institutional investors own 90.44% of the company’s stock.
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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