Ollie’s Bargain Outlet (NASDAQ:OLLI) Hits New 52-Week High Following Analyst Upgrade

Shares of Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) reached a new 52-week high during trading on Monday after JPMorgan Chase & Co. raised their price target on the stock from $135.00 to $137.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Ollie’s Bargain Outlet traded as high as $120.10 and last traded at $118.97, with a volume of 190833 shares changing hands. The stock had previously closed at $118.86.

Other equities analysts have also issued research reports about the stock. StockNews.com upgraded shares of Ollie’s Bargain Outlet from a “sell” rating to a “hold” rating in a report on Tuesday, May 13th. Jefferies Financial Group lowered shares of Ollie’s Bargain Outlet from a “buy” rating to a “hold” rating and dropped their target price for the company from $125.00 to $111.00 in a report on Tuesday, February 4th. Royal Bank of Canada boosted their target price on shares of Ollie’s Bargain Outlet from $130.00 to $133.00 and gave the company an “outperform” rating in a report on Friday, March 7th. Piper Sandler dropped their target price on shares of Ollie’s Bargain Outlet from $126.00 to $124.00 and set an “overweight” rating on the stock in a report on Thursday, March 20th. Finally, Morgan Stanley lifted their price target on shares of Ollie’s Bargain Outlet from $108.00 to $118.00 and gave the company an “equal weight” rating in a research note on Thursday, March 20th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Ollie’s Bargain Outlet currently has a consensus rating of “Moderate Buy” and a consensus price target of $123.23.

Insider Buying and Selling at Ollie’s Bargain Outlet

In other news, CFO Robert F. Helm sold 2,145 shares of the business’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $108.50, for a total value of $232,732.50. Following the transaction, the chief financial officer now owns 3,888 shares of the company’s stock, valued at approximately $421,848. The trade was a 35.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Der Valk Eric Van sold 1,153 shares of the business’s stock in a transaction on Monday, March 31st. The stock was sold at an average price of $110.85, for a total transaction of $127,810.05. Following the completion of the transaction, the chief executive officer now directly owns 6,768 shares in the company, valued at $750,232.80. This trade represents a 14.56% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 37,897 shares of company stock valued at $4,227,970 over the last 90 days. 0.75% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Ollie’s Bargain Outlet

Hedge funds have recently bought and sold shares of the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Ollie’s Bargain Outlet by 12.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 183,412 shares of the company’s stock valued at $21,342,000 after acquiring an additional 19,837 shares during the last quarter. Empowered Funds LLC bought a new position in Ollie’s Bargain Outlet during the 1st quarter worth about $359,000. Axiom Investors LLC DE purchased a new stake in shares of Ollie’s Bargain Outlet during the first quarter valued at about $4,749,000. United Services Automobile Association purchased a new stake in shares of Ollie’s Bargain Outlet during the first quarter valued at about $461,000. Finally, Redwood Investments LLC raised its position in shares of Ollie’s Bargain Outlet by 50.0% in the 1st quarter. Redwood Investments LLC now owns 27,099 shares of the company’s stock valued at $3,153,000 after purchasing an additional 9,027 shares during the last quarter.

Ollie’s Bargain Outlet Stock Performance

The company has a market cap of $7.38 billion, a price-to-earnings ratio of 35.87, a P/E/G ratio of 2.21 and a beta of 0.45. The company’s fifty day moving average is $109.61 and its two-hundred day moving average is $106.28.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last announced its earnings results on Wednesday, March 19th. The company reported $1.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.20 by ($0.01). Ollie’s Bargain Outlet had a return on equity of 13.15% and a net margin of 9.22%. The business had revenue of $667.10 million for the quarter, compared to analyst estimates of $674.61 million. During the same period last year, the firm earned $1.23 EPS. The company’s revenue for the quarter was up 2.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Ollie’s Bargain Outlet Holdings, Inc. will post 3.29 EPS for the current fiscal year.

About Ollie’s Bargain Outlet

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.