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

Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) hit a new 52-week high during mid-day trading on Monday after Truist Financial raised their price target on the stock from $102.00 to $109.00. Truist Financial currently has a buy rating on the stock. Ollie’s Bargain Outlet traded as high as $104.05 and last traded at $104.05, with a volume of 130874 shares. The stock had previously closed at $101.76.

A number of other equities research analysts have also recently issued reports on OLLI. Craig Hallum raised their target price on Ollie’s Bargain Outlet from $100.00 to $105.00 and gave the company a “buy” rating in a research note on Thursday, June 6th. Bank of America lifted their price objective on shares of Ollie’s Bargain Outlet from $92.00 to $102.00 and gave the company a “buy” rating in a research report on Thursday, June 6th. UBS Group upped their target price on shares of Ollie’s Bargain Outlet from $95.00 to $97.00 and gave the stock a “neutral” rating in a research report on Thursday, June 6th. JPMorgan Chase & Co. raised Ollie’s Bargain Outlet from a “neutral” rating to an “overweight” rating and set a $105.00 price target on the stock in a report on Monday, June 17th. Finally, Morgan Stanley increased their price objective on Ollie’s Bargain Outlet from $80.00 to $92.00 and gave the stock an “equal weight” rating in a report on Thursday, June 6th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $102.08.

Insider Activity

In related news, President Der Valk Eric Van sold 1,438 shares of Ollie’s Bargain Outlet stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $90.00, for a total transaction of $129,420.00. Following the transaction, the president now directly owns 4,158 shares of the company’s stock, valued at $374,220. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, Director Thomas Hendrickson sold 4,500 shares of the stock in a transaction on Friday, June 21st. The stock was sold at an average price of $97.54, for a total transaction of $438,930.00. Following the completion of the sale, the director now owns 5,659 shares in the company, valued at approximately $551,978.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Der Valk Eric Van sold 1,438 shares of Ollie’s Bargain Outlet stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $90.00, for a total value of $129,420.00. Following the completion of the transaction, the president now owns 4,158 shares in the company, valued at $374,220. The disclosure for this sale can be found here. Insiders sold a total of 37,384 shares of company stock worth $3,211,937 over the last 90 days. 0.87% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Ollie’s Bargain Outlet

Hedge funds and other institutional investors have recently modified their holdings of the stock. Moran Wealth Management LLC purchased a new stake in Ollie’s Bargain Outlet during the fourth quarter valued at about $10,686,000. AGF Management Ltd. acquired a new position in Ollie’s Bargain Outlet in the 4th quarter worth approximately $2,835,000. CHURCHILL MANAGEMENT Corp purchased a new position in Ollie’s Bargain Outlet during the 1st quarter worth approximately $1,621,000. Louisiana State Employees Retirement System acquired a new stake in Ollie’s Bargain Outlet during the 4th quarter valued at $1,313,000. Finally, Wells Fargo & Company MN lifted its stake in Ollie’s Bargain Outlet by 8.2% in the 4th quarter. Wells Fargo & Company MN now owns 200,720 shares of the company’s stock worth $15,233,000 after acquiring an additional 15,187 shares in the last quarter.

Ollie’s Bargain Outlet Trading Up 0.5 %

The stock has a 50-day simple moving average of $88.05 and a 200 day simple moving average of $79.56. The stock has a market capitalization of $6.36 billion, a price-to-earnings ratio of 32.80, a price-to-earnings-growth ratio of 2.76 and a beta of 0.90.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last issued its earnings results on Wednesday, June 5th. The company reported $0.73 earnings per share (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 analyst estimates of $506.49 million. During the same quarter last year, the business posted $0.49 EPS. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. Sell-side analysts expect that Ollie’s Bargain Outlet Holdings, Inc. will post 3.26 earnings per share for the current fiscal year.

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.