Ollie’s Bargain Outlet (NASDAQ:OLLI) Downgraded to Hold Rating by Jefferies Financial Group

Ollie’s Bargain Outlet (NASDAQ:OLLI) was downgraded by equities researchers at Jefferies Financial Group from a “buy” rating to a “hold” rating in a report issued on Tuesday,Finviz reports. They presently have a $111.00 price objective on the stock, down from their previous price objective of $125.00. Jefferies Financial Group’s target price points to a potential upside of 3.13% from the stock’s previous close.

Several other research analysts also recently weighed in on OLLI. StockNews.com upgraded Ollie’s Bargain Outlet from a “sell” rating to a “hold” rating in a research note on Thursday, January 23rd. Citigroup raised shares of Ollie’s Bargain Outlet from a “sell” rating to a “buy” rating and upped their price objective for the company from $64.00 to $133.00 in a research note on Wednesday, December 18th. Loop Capital lifted their target price on shares of Ollie’s Bargain Outlet from $120.00 to $130.00 and gave the company a “buy” rating in a report on Monday, December 23rd. Piper Sandler boosted their target price on shares of Ollie’s Bargain Outlet from $107.00 to $126.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Ollie’s Bargain Outlet from $105.00 to $135.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, Ollie’s Bargain Outlet presently has an average rating of “Moderate Buy” and a consensus price target of $118.07.

Ollie’s Bargain Outlet Price Performance

OLLI stock opened at $107.63 on Tuesday. Ollie’s Bargain Outlet has a 1-year low of $68.05 and a 1-year high of $120.03. The business has a fifty day moving average price of $108.54 and a 200-day moving average price of $99.54. The stock has a market capitalization of $6.60 billion, a P/E ratio of 32.13, a P/E/G ratio of 2.76 and a beta of 0.81.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last released its quarterly earnings data on Tuesday, December 10th. The company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.01. The firm had revenue of $517.43 million for the quarter, compared to analysts’ expectations of $518.83 million. Ollie’s Bargain Outlet had a net margin of 9.22% and a return on equity of 13.15%. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.51 earnings per share. As a group, analysts anticipate that Ollie’s Bargain Outlet will post 3.29 earnings per share for the current year.

Insider Buying and Selling at Ollie’s Bargain Outlet

In other Ollie’s Bargain Outlet news, SVP James J. Comitale sold 5,325 shares of Ollie’s Bargain Outlet stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $113.95, for a total value of $606,783.75. Following the transaction, the senior vice president now directly owns 3,140 shares of the company’s stock, valued at $357,803. The trade was a 62.91 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Larry Kraus sold 10,646 shares of Ollie’s Bargain Outlet stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $115.58, for a total transaction of $1,230,464.68. Following the sale, the senior vice president now directly owns 1,905 shares in the company, valued at $220,179.90. The trade was a 84.82 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 87,771 shares of company stock valued at $9,650,832. 0.87% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Ollie’s Bargain Outlet

A number of hedge funds have recently added to or reduced their stakes in OLLI. Royce & Associates LP lifted its holdings in Ollie’s Bargain Outlet by 161.6% during the third quarter. Royce & Associates LP now owns 75,605 shares of the company’s stock worth $7,349,000 after buying an additional 46,706 shares during the period. Oak Thistle LLC acquired a new stake in Ollie’s Bargain Outlet during the 4th quarter worth $1,345,000. JPMorgan Chase & Co. increased its position in Ollie’s Bargain Outlet by 79.6% during the third quarter. JPMorgan Chase & Co. now owns 189,301 shares of the company’s stock worth $18,400,000 after purchasing an additional 83,882 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Ollie’s Bargain Outlet by 0.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 753,658 shares of the company’s stock worth $73,256,000 after purchasing an additional 5,438 shares during the period. Finally, Fred Alger Management LLC boosted its holdings in Ollie’s Bargain Outlet by 12.1% in the third quarter. Fred Alger Management LLC now owns 772,145 shares of the company’s stock valued at $75,052,000 after purchasing an additional 83,063 shares during the period.

Ollie’s Bargain Outlet Company Profile

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.