Gordon Haskett Upgrades Ollie’s Bargain Outlet (NASDAQ:OLLI) to Buy

Gordon Haskett upgraded shares of Ollie’s Bargain Outlet (NASDAQ:OLLI) from an accumulate rating to a buy rating in a report published on Monday morning, MarketBeat.com reports. They currently have $107.00 target price on the stock, up from their previous target price of $105.00.

OLLI has been the topic of a number of other research reports. Piper Sandler increased their price target on Ollie’s Bargain Outlet from $100.00 to $107.00 and gave the company an overweight rating in a research note on Tuesday, June 25th. JPMorgan Chase & Co. raised shares of Ollie’s Bargain Outlet from a neutral rating to an overweight rating and set a $105.00 target price for the company in a report on Monday, June 17th. Truist Financial increased their price target on shares of Ollie’s Bargain Outlet from $102.00 to $109.00 and gave the company a buy rating in a report on Friday, July 12th. Loop Capital boosted their price objective on Ollie’s Bargain Outlet from $100.00 to $110.00 and gave the stock a buy rating in a report on Monday, June 24th. Finally, Royal Bank of Canada increased their target price on Ollie’s Bargain Outlet from $86.00 to $101.00 and gave the stock an outperform rating in a research note on Thursday, June 6th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Ollie’s Bargain Outlet has a consensus rating of Moderate Buy and an average target price of $102.46.

Ollie’s Bargain Outlet Trading Down 7.6 %

NASDAQ:OLLI opened at $86.90 on Monday. The stock has a market capitalization of $5.32 billion, a PE ratio of 27.41, a P/E/G ratio of 2.60 and a beta of 0.90. Ollie’s Bargain Outlet has a 1-year low of $68.05 and a 1-year high of $104.98. The firm has a fifty day simple moving average of $96.90 and a 200 day simple moving average of $84.48.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last announced its quarterly earnings data on Wednesday, June 5th. The company reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.08. Ollie’s Bargain Outlet had a net margin of 9.14% and a return on equity of 13.22%. The company had revenue of $508.82 million during the quarter, compared to the consensus estimate of $506.49 million. During the same quarter last year, the firm posted $0.49 EPS. The company’s quarterly revenue was up 10.8% on a year-over-year basis. On average, equities analysts predict that Ollie’s Bargain Outlet will post 3.27 earnings per share for the current fiscal year.

Insider Activity

In other Ollie’s Bargain Outlet news, SVP James J. Comitale sold 2,153 shares of the stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $104.17, for a total transaction of $224,278.01. Following the sale, the senior vice president now directly owns 2,732 shares in the company, valued at $284,592.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO John W. Swygert sold 14,736 shares of the business’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $86.81, for a total transaction of $1,279,232.16. Following the completion of the transaction, the chief executive officer now owns 48,200 shares of the company’s stock, valued at approximately $4,184,242. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP James J. Comitale sold 2,153 shares of the company’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $104.17, for a total value of $224,278.01. Following the sale, the senior vice president now owns 2,732 shares of the company’s stock, valued at $284,592.44. The disclosure for this sale can be found here. In the last three months, insiders sold 34,367 shares of company stock worth $3,061,165. 0.87% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of OLLI. Sei Investments Co. increased its holdings in shares of Ollie’s Bargain Outlet by 15.3% during the first quarter. Sei Investments Co. now owns 207,554 shares of the company’s stock worth $16,515,000 after buying an additional 27,531 shares in the last quarter. Moran Wealth Management LLC bought a new stake in Ollie’s Bargain Outlet during the 4th quarter worth $10,686,000. AGF Management Ltd. acquired a new position in Ollie’s Bargain Outlet in the 4th quarter worth about $2,835,000. CHURCHILL MANAGEMENT Corp bought a new position in Ollie’s Bargain Outlet in the first quarter valued at about $1,621,000. Finally, Wells Fargo & Company MN boosted its stake in shares of Ollie’s Bargain Outlet by 8.2% during the fourth quarter. Wells Fargo & Company MN now owns 200,720 shares of the company’s stock valued at $15,233,000 after purchasing an additional 15,187 shares in the last quarter.

About Ollie’s Bargain Outlet

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