Ollie’s Bargain Outlet (NASDAQ:OLLI) Coverage Initiated by Analysts at Bank of America

Stock analysts at Bank of America assumed coverage on shares of Ollie’s Bargain Outlet (NASDAQ:OLLI) in a note issued to investors on Monday, StockNewsAPI reports. The firm set a “buy” rating and a $92.00 price target on the stock. Bank of America‘s price target would indicate a potential upside of 16.16% from the company’s previous close.

OLLI has been the subject of several other research reports. Craig Hallum boosted their price target on shares of Ollie’s Bargain Outlet from $98.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, March 21st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $86.00 price objective on shares of Ollie’s Bargain Outlet in a research note on Thursday, March 21st. JPMorgan Chase & Co. reduced their price target on shares of Ollie’s Bargain Outlet from $88.00 to $85.00 and set a “neutral” rating for the company in a research report on Thursday, March 21st. Truist Financial upgraded Ollie’s Bargain Outlet from a “hold” rating to a “buy” rating and lifted their price objective for the company from $80.00 to $86.00 in a research note on Friday. Finally, Loop Capital raised shares of Ollie’s Bargain Outlet from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $80.00 to $90.00 in a report on Friday, April 5th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $87.08.

Ollie’s Bargain Outlet Price Performance

Shares of OLLI stock traded up $2.40 on Monday, hitting $79.20. The stock had a trading volume of 354,824 shares, compared to its average volume of 902,533. The business has a 50 day moving average of $75.08 and a 200 day moving average of $75.15. The stock has a market cap of $4.85 billion, a price-to-earnings ratio of 27.18 and a beta of 0.76. Ollie’s Bargain Outlet has a 12-month low of $52.93 and a 12-month high of $84.38.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last released its quarterly earnings data on Wednesday, March 20th. The company reported $1.23 EPS for the quarter, topping the consensus estimate of $1.16 by $0.07. Ollie’s Bargain Outlet had a net margin of 8.63% and a return on equity of 12.55%. The company had revenue of $648.90 million during the quarter, compared to the consensus estimate of $649.39 million. During the same period last year, the firm earned $0.84 EPS. Ollie’s Bargain Outlet’s revenue for the quarter was up 18.0% on a year-over-year basis. As a group, research analysts expect that Ollie’s Bargain Outlet will post 3.19 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Thomas Hendrickson sold 5,000 shares of the firm’s stock in a transaction dated Thursday, April 18th. The stock was sold at an average price of $72.29, for a total transaction of $361,450.00. Following the completion of the sale, the director now directly owns 5,659 shares of the company’s stock, valued at approximately $409,089.11. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Robert F. Helm sold 2,317 shares of Ollie’s Bargain Outlet stock in a transaction on Monday, March 25th. The shares were sold at an average price of $78.14, for a total transaction of $181,050.38. Following the transaction, the chief financial officer now owns 1,777 shares in the company, valued at $138,854.78. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Thomas Hendrickson sold 5,000 shares of the stock in a transaction that occurred on Thursday, April 18th. The stock was sold at an average price of $72.29, for a total value of $361,450.00. Following the completion of the transaction, the director now owns 5,659 shares in the company, valued at approximately $409,089.11. The disclosure for this sale can be found here. Insiders sold 27,171 shares of company stock valued at $2,084,338 in the last three months. 0.87% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Ollie’s Bargain Outlet

A number of hedge funds and other institutional investors have recently made changes to their positions in OLLI. Norges Bank acquired a new stake in Ollie’s Bargain Outlet in the 4th quarter worth about $59,215,000. Wellington Management Group LLP lifted its stake in Ollie’s Bargain Outlet by 141.5% in the 3rd quarter. Wellington Management Group LLP now owns 1,075,882 shares of the company’s stock valued at $83,037,000 after buying an additional 630,298 shares in the last quarter. Invesco Ltd. raised its position in shares of Ollie’s Bargain Outlet by 76.1% in the third quarter. Invesco Ltd. now owns 831,522 shares of the company’s stock valued at $64,177,000 after buying an additional 359,371 shares during the last quarter. AQR Capital Management LLC lifted its stake in shares of Ollie’s Bargain Outlet by 334.7% during the 3rd quarter. AQR Capital Management LLC now owns 305,060 shares of the company’s stock worth $23,444,000 after purchasing an additional 234,886 shares during the period. Finally, Wasatch Advisors LP boosted its stake in Ollie’s Bargain Outlet by 5.2% in the 4th quarter. Wasatch Advisors LP now owns 3,761,480 shares of the company’s stock worth $285,459,000 after buying an additional 184,864 shares during 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.