Ollie’s Bargain Outlet (NASDAQ:OLLI) Price Target Raised to $133.00

Ollie’s Bargain Outlet (NASDAQ:OLLI) had its price objective raised by investment analysts at Royal Bank of Canada from $130.00 to $133.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank of Canada’s target price points to a potential upside of 36.13% from the stock’s previous close.

Other equities analysts also recently issued research reports about the stock. JPMorgan Chase & Co. upped their price objective on shares of Ollie’s Bargain Outlet from $105.00 to $135.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Piper Sandler upped their target price on Ollie’s Bargain Outlet from $107.00 to $126.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. Craig Hallum raised their price target on shares of Ollie’s Bargain Outlet from $107.00 to $130.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Wells Fargo & Company boosted their price objective on Ollie’s Bargain Outlet from $95.00 to $105.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 11th. Finally, Citigroup upgraded Ollie’s Bargain Outlet from a “sell” rating to a “buy” rating and lifted their price objective for the stock from $64.00 to $133.00 in a report on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, Ollie’s Bargain Outlet currently has an average rating of “Moderate Buy” and a consensus price target of $118.29.

Ollie’s Bargain Outlet Trading Down 7.2 %

Shares of OLLI stock traded down $7.55 on Friday, reaching $97.70. 506,527 shares of the company’s stock were exchanged, compared to its average volume of 966,117. The stock has a market capitalization of $5.99 billion, a PE ratio of 29.18, a P/E/G ratio of 2.21 and a beta of 0.81. Ollie’s Bargain Outlet has a 52 week low of $68.05 and a 52 week high of $120.03. The company’s fifty day simple moving average is $106.28 and its 200 day simple moving average is $100.90.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last posted its earnings results on Tuesday, December 10th. The company reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.01. The business had revenue of $517.43 million for the quarter, compared to the consensus estimate of $518.83 million. Ollie’s Bargain Outlet had a net margin of 9.22% and a return on equity of 13.15%. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.51 EPS. As a group, sell-side analysts predict that Ollie’s Bargain Outlet will post 3.29 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Ollie’s Bargain Outlet news, SVP Larry Kraus sold 10,646 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $115.58, for a total value of $1,230,464.68. Following the completion of the transaction, the senior vice president now owns 1,905 shares in the company, valued at $220,179.90. The trade was a 84.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Thomas Hendrickson sold 6,250 shares of the business’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $114.74, for a total value of $717,125.00. The disclosure for this sale can be found here. Insiders have sold 76,539 shares of company stock worth $8,498,935 over the last ninety days. Corporate insiders own 0.87% of the company’s stock.

Institutional Trading of Ollie’s Bargain Outlet

A number of large investors have recently made changes to their positions in the company. Legacy Capital Wealth Partners LLC raised its position in Ollie’s Bargain Outlet by 3.4% in the 4th quarter. Legacy Capital Wealth Partners LLC now owns 2,834 shares of the company’s stock valued at $311,000 after purchasing an additional 94 shares during the last quarter. Coldstream Capital Management Inc. boosted its stake in shares of Ollie’s Bargain Outlet by 3.4% during the 4th quarter. Coldstream Capital Management Inc. now owns 2,912 shares of the company’s stock worth $320,000 after acquiring an additional 97 shares in the last quarter. Blue Trust Inc. grew its holdings in Ollie’s Bargain Outlet by 55.2% in the fourth quarter. Blue Trust Inc. now owns 284 shares of the company’s stock valued at $31,000 after purchasing an additional 101 shares during the last quarter. UMB Bank n.a. raised its position in Ollie’s Bargain Outlet by 25.3% during the fourth quarter. UMB Bank n.a. now owns 545 shares of the company’s stock worth $60,000 after acquiring an additional 110 shares during the last quarter. Finally, Precision Wealth Strategies LLC raised its position in shares of Ollie’s Bargain Outlet by 3.2% during the 4th quarter. Precision Wealth Strategies LLC now owns 3,889 shares of the company’s stock worth $427,000 after purchasing an additional 119 shares during the last quarter.

Ollie’s Bargain Outlet Company Profile

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.