Ollie’s Bargain Outlet Holdings, Inc. (OLLI) Rating Increased to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) from a hold rating to a buy rating in a research note released on Tuesday morning. The brokerage currently has $51.00 price objective on the stock.

According to Zacks, “Ollie’s Bargain Outlet Holdings, Inc. is a retailer of closeouts, excess inventory and salvage merchandise. The Company’s product includes housewares, food, books and stationery, bed and bath, floor coverings, toys and hardware. Its brand portfolio consist of Ollie’s, Ollie’s Bargain Outlet, Ollie’s Army, Real Brands! Real Bargains! and Good Stuff Cheap. The company operates primarily in Alabama, Delaware, Georgia, Indiana, Kentucky, Maryland, Michigan, New Jersey, New York, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee, Virginia and West Virginia. Ollie’s Bargain Outlet Holdings, Inc. is based in Harrisburg, United States. “

A number of other equities research analysts have also recently weighed in on OLLI. BidaskClub cut Ollie’s Bargain Outlet Holdings from a strong-buy rating to a buy rating in a research note on Thursday, August 10th. Credit Suisse Group reaffirmed a hold rating on shares of Ollie’s Bargain Outlet Holdings in a research note on Sunday, June 4th. Jefferies Group LLC reaffirmed a buy rating and issued a $48.00 price objective on shares of Ollie’s Bargain Outlet Holdings in a research note on Wednesday, August 23rd. Piper Jaffray Companies set a $48.00 price objective on Ollie’s Bargain Outlet Holdings and gave the company a buy rating in a research note on Thursday, June 1st. Finally, Buckingham Research set a $41.00 price objective on Ollie’s Bargain Outlet Holdings and gave the company a hold rating in a research note on Wednesday, August 30th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Ollie’s Bargain Outlet Holdings presently has a consensus rating of Buy and an average price target of $47.13.

Ollie’s Bargain Outlet Holdings (NASDAQ OLLI) opened at 45.80 on Tuesday. Ollie’s Bargain Outlet Holdings has a 52-week low of $25.57 and a 52-week high of $46.25. The company has a market cap of $2.81 billion, a P/E ratio of 39.48 and a beta of 0.17. The stock’s 50 day moving average price is $45.70 and its 200-day moving average price is $45.70.

Ollie’s Bargain Outlet Holdings (NASDAQ:OLLI) last issued its quarterly earnings data on Tuesday, August 29th. The company reported $0.27 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.02. Ollie’s Bargain Outlet Holdings had a return on equity of 10.44% and a net margin of 7.60%. The business had revenue of $254.60 million during the quarter, compared to analysts’ expectations of $242.85 million. During the same period in the previous year, the firm posted $0.21 earnings per share. The company’s revenue was up 20.5% on a year-over-year basis. On average, equities analysts predict that Ollie’s Bargain Outlet Holdings will post $1.19 earnings per share for the current fiscal year.

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In related news, VP Kenneth Robert Bertram sold 6,000 shares of the business’s stock in a transaction on Monday, July 17th. The stock was sold at an average price of $43.25, for a total transaction of $259,500.00. Following the completion of the transaction, the vice president now directly owns 6,000 shares of the company’s stock, valued at approximately $259,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Mark L. Butler sold 334,200 shares of the business’s stock in a transaction on Wednesday, September 20th. The stock was sold at an average price of $46.02, for a total value of $15,379,884.00. Following the transaction, the chief executive officer now directly owns 4,770,421 shares of the company’s stock, valued at $219,534,774.42. The disclosure for this sale can be found here. Insiders have sold a total of 1,135,781 shares of company stock valued at $51,852,451 over the last three months. 22.25% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wasatch Advisors Inc. grew its stake in Ollie’s Bargain Outlet Holdings by 1.2% during the 2nd quarter. Wasatch Advisors Inc. now owns 3,136,746 shares of the company’s stock worth $133,625,000 after purchasing an additional 37,517 shares in the last quarter. Public Employees Retirement System of Ohio grew its stake in Ollie’s Bargain Outlet Holdings by 6.0% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 96,263 shares of the company’s stock worth $4,101,000 after purchasing an additional 5,487 shares in the last quarter. Piedmont Investment Advisors LLC acquired a new position in Ollie’s Bargain Outlet Holdings during the 2nd quarter worth $445,000. Ameritas Investment Partners Inc. grew its stake in Ollie’s Bargain Outlet Holdings by 165.2% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,180 shares of the company’s stock worth $178,000 after purchasing an additional 2,604 shares in the last quarter. Finally, Castleark Management LLC acquired a new position in Ollie’s Bargain Outlet Holdings during the 2nd quarter worth $6,776,000. 92.19% of the stock is owned by hedge funds and other institutional investors.

Ollie’s Bargain Outlet Holdings Company Profile

Ollie’s Bargain Outlet Holdings, Inc is a retailer of brand name merchandise. The Company offers customers a selection of brand name products, including food, housewares, books and stationery, bed and bath, floor coverings, electronics and toys. Its warehouse format stores feature a range of products, including hardware, personal healthcare, candy, clothing, sporting goods, pet and lawn and garden products.

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Analyst Recommendations for Ollie`s Bargain Outlet Holdings (NASDAQ:OLLI)

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