Ollie’s Bargain Outlet (NASDAQ:OLLI) Price Target Raised to $128.00

Ollie’s Bargain Outlet (NASDAQ:OLLI) had its target price raised by Truist Financial from $126.00 to $128.00 in a research report report published on Wednesday,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other research analysts also recently commented on OLLI. Jefferies Financial Group downgraded shares of Ollie’s Bargain Outlet from a “buy” rating to a “hold” rating and dropped their price objective for the company from $125.00 to $111.00 in a research note on Tuesday, February 4th. Piper Sandler dropped their price target on shares of Ollie’s Bargain Outlet from $126.00 to $124.00 and set an “overweight” rating for the company in a research report on Thursday, March 20th. Wall Street Zen raised Ollie’s Bargain Outlet from a “sell” rating to a “hold” rating in a research report on Tuesday, May 13th. KeyCorp restated an “overweight” rating and issued a $135.00 price objective on shares of Ollie’s Bargain Outlet in a report on Wednesday. Finally, Morgan Stanley boosted their target price on Ollie’s Bargain Outlet from $108.00 to $118.00 and gave the stock an “equal weight” rating in a report on Thursday, March 20th. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $124.50.

Ollie’s Bargain Outlet Stock Up 3.8%

NASDAQ OLLI opened at $119.37 on Wednesday. Ollie’s Bargain Outlet has a fifty-two week low of $82.84 and a fifty-two week high of $122.15. The business has a fifty day moving average of $111.66 and a 200-day moving average of $108.17. The stock has a market cap of $7.32 billion, a price-to-earnings ratio of 35.63, a price-to-earnings-growth ratio of 2.21 and a beta of 0.37.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last announced its quarterly earnings data on Tuesday, June 3rd. The company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.05. The business had revenue of $576.77 million for the quarter, compared to the consensus estimate of $565.04 million. Ollie’s Bargain Outlet had a net margin of 9.22% and a return on equity of 13.15%. The company’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.73 earnings per share. As a group, analysts anticipate that Ollie’s Bargain Outlet will post 3.29 EPS for the current year.

Insider Transactions at Ollie’s Bargain Outlet

In other Ollie’s Bargain Outlet news, CFO Robert F. Helm sold 2,145 shares of the business’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $108.50, for a total transaction of $232,732.50. Following the completion of the sale, the chief financial officer now owns 3,888 shares in the company, valued at $421,848. The trade was a 35.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Robert Fisch sold 6,250 shares of Ollie’s Bargain Outlet stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $108.08, for a total transaction of $675,500.00. Following the completion of the transaction, the director now directly owns 22,159 shares of the company’s stock, valued at $2,394,944.72. This trade represents a 22.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 37,897 shares of company stock valued at $4,227,970. Insiders own 0.75% of the company’s stock.

Hedge Funds Weigh In On Ollie’s Bargain Outlet

Several institutional investors have recently made changes to their positions in OLLI. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Ollie’s Bargain Outlet by 489.7% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 230 shares of the company’s stock worth $25,000 after purchasing an additional 191 shares during the last quarter. Bogart Wealth LLC acquired a new stake in Ollie’s Bargain Outlet in the fourth quarter worth $26,000. Wilmington Savings Fund Society FSB increased its position in Ollie’s Bargain Outlet by 337.0% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 236 shares of the company’s stock worth $26,000 after buying an additional 182 shares during the period. HM Payson & Co. bought a new stake in Ollie’s Bargain Outlet in the first quarter valued at $30,000. Finally, Blue Trust Inc. boosted its stake in Ollie’s Bargain Outlet by 55.2% during the 4th 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 period.

About Ollie’s Bargain Outlet

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.