Ollie’s Bargain Outlet (NASDAQ:OLLI) Stock Rating Lowered by StockNews.com

Ollie’s Bargain Outlet (NASDAQ:OLLI) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday.

A number of other brokerages also recently issued reports on OLLI. Bank of America boosted their price objective on Ollie’s Bargain Outlet from $102.00 to $115.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Truist Financial increased their price objective on shares of Ollie’s Bargain Outlet from $102.00 to $109.00 and gave the stock a “buy” rating in a research note on Friday, July 12th. Piper Sandler restated an “overweight” rating and set a $107.00 price objective on shares of Ollie’s Bargain Outlet in a research report on Friday. JPMorgan Chase & Co. dropped their target price on shares of Ollie’s Bargain Outlet from $113.00 to $105.00 and set an “overweight” rating for the company in a report on Friday, August 30th. Finally, Royal Bank of Canada raised their price target on Ollie’s Bargain Outlet from $100.00 to $106.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, Ollie’s Bargain Outlet has an average rating of “Moderate Buy” and a consensus price target of $104.92.

Ollie’s Bargain Outlet Trading Up 1.5 %

Shares of OLLI opened at $97.39 on Friday. The company has a market cap of $5.96 billion, a price-to-earnings ratio of 30.72, a P/E/G ratio of 2.42 and a beta of 0.84. The business’s fifty day simple moving average is $95.10 and its two-hundred day simple moving average is $87.90. Ollie’s Bargain Outlet has a 12 month low of $68.05 and a 12 month high of $104.98.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last announced its quarterly earnings results on Thursday, August 29th. The company reported $0.78 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.78. The firm had revenue of $578.38 million for the quarter, compared to the consensus estimate of $561.60 million. Ollie’s Bargain Outlet had a net margin of 9.19% and a return on equity of 13.27%. The business’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.67 EPS. As a group, research analysts forecast that Ollie’s Bargain Outlet will post 3.28 EPS for the current year.

Insider Buying and Selling at Ollie’s Bargain Outlet

In other news, President Der Valk Eric Van sold 7,479 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $100.32, for a total transaction of $750,293.28. Following the sale, the president now directly owns 5,615 shares of the company’s stock, valued at $563,296.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Kevin Mclain sold 15,000 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $98.99, for a total value of $1,484,850.00. Following the completion of the transaction, the senior vice president now owns 10,610 shares of the company’s stock, valued at approximately $1,050,283.90. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Der Valk Eric Van sold 7,479 shares of Ollie’s Bargain Outlet stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $100.32, for a total value of $750,293.28. Following the completion of the transaction, the president now owns 5,615 shares of the company’s stock, valued at approximately $563,296.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 24,632 shares of company stock worth $2,459,421 in the last quarter. 0.87% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Ollie’s Bargain Outlet

Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Ollie’s Bargain Outlet by 6.2% during the 1st quarter. Vanguard Group Inc. now owns 5,882,908 shares of the company’s stock valued at $468,103,000 after purchasing an additional 343,903 shares during the last quarter. Wasatch Advisors LP raised its stake in shares of Ollie’s Bargain Outlet by 4.1% in the first quarter. Wasatch Advisors LP now owns 3,917,575 shares of the company’s stock valued at $311,721,000 after acquiring an additional 156,095 shares during the period. Capital Research Global Investors bought a new position in Ollie’s Bargain Outlet during the 1st quarter valued at about $136,978,000. American Century Companies Inc. raised its position in Ollie’s Bargain Outlet by 5.6% in the 2nd quarter. American Century Companies Inc. now owns 780,064 shares of the company’s stock worth $76,579,000 after purchasing an additional 41,605 shares during the period. Finally, D. E. Shaw & Co. Inc. lifted its stake in Ollie’s Bargain Outlet by 953.2% in the second quarter. D. E. Shaw & Co. Inc. now owns 566,738 shares of the company’s stock worth $55,637,000 after purchasing an additional 512,928 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.