Loop Capital Reiterates Buy Rating for Ollie’s Bargain Outlet (NASDAQ:OLLI)

Loop Capital reiterated their buy rating on shares of Ollie’s Bargain Outlet (NASDAQ:OLLI) in a report issued on Friday, Benzinga reports. They currently have a $110.00 target price on the stock.

Several other brokerages have also commented on OLLI. StockNews.com lowered Ollie’s Bargain Outlet from a hold rating to a sell rating in a research note on Friday, August 30th. Truist Financial upped their target price on Ollie’s Bargain Outlet from $102.00 to $109.00 and gave the company a buy rating in a report on Friday, July 12th. JPMorgan Chase & Co. cut their price target on Ollie’s Bargain Outlet from $113.00 to $105.00 and set an overweight rating for the company in a research note on Friday, August 30th. Bank of America increased their price objective on shares of Ollie’s Bargain Outlet from $92.00 to $102.00 and gave the company a buy rating in a research note on Thursday, June 6th. Finally, Wells Fargo & Company lifted their target price on shares of Ollie’s Bargain Outlet from $85.00 to $100.00 and gave the stock an overweight rating in a research report on Thursday, June 6th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $103.33.

Ollie’s Bargain Outlet Trading Up 2.7 %

Shares of OLLI stock opened at $101.68 on Friday. The stock has a 50 day simple moving average of $95.38 and a 200-day simple moving average of $86.45. The company has a market cap of $6.22 billion, a price-to-earnings ratio of 32.08, a price-to-earnings-growth ratio of 2.48 and a beta of 0.84. 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 released its quarterly earnings data on Thursday, August 29th. The company reported $0.78 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.78. The firm had revenue of $578.38 million during the quarter, compared to analysts’ expectations of $561.60 million. Ollie’s Bargain Outlet had a return on equity of 13.27% and a net margin of 9.19%. Ollie’s Bargain Outlet’s revenue was up 12.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.67 earnings per share. On average, equities analysts forecast that Ollie’s Bargain Outlet will post 3.28 earnings per share for the current fiscal year.

Insider Activity

In related news, SVP Kevin Mclain sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $98.99, for a total transaction of $1,484,850.00. Following the sale, the senior vice president now owns 10,610 shares in the company, valued at $1,050,283.90. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Ollie’s Bargain Outlet news, SVP Kevin Mclain sold 15,000 shares of the business’s stock in a transaction on Monday, September 16th. The stock was 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 directly owns 10,610 shares in the company, valued at approximately $1,050,283.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP James J. Comitale sold 2,153 shares of the firm’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $104.17, for a total value of $224,278.01. Following the sale, the senior vice president now owns 2,732 shares in the company, valued at approximately $284,592.44. The disclosure for this sale can be found here. Company insiders own 0.87% of the company’s stock.

Institutional Trading of Ollie’s Bargain Outlet

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Sanctuary Advisors LLC purchased a new stake in Ollie’s Bargain Outlet in the second quarter valued at approximately $298,000. Wallace Advisory Group LLC purchased a new stake in shares of Ollie’s Bargain Outlet during the 2nd quarter valued at $303,000. Algert Global LLC grew its stake in shares of Ollie’s Bargain Outlet by 12.9% during the 2nd quarter. Algert Global LLC now owns 6,180 shares of the company’s stock valued at $607,000 after buying an additional 708 shares during the period. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Ollie’s Bargain Outlet during the 2nd quarter worth $560,000. Finally, Scientech Research LLC purchased a new position in shares of Ollie’s Bargain Outlet in the 2nd quarter worth $1,318,000.

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.