StockNews.com Downgrades Ollie’s Bargain Outlet (NASDAQ:OLLI) to Sell

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 on Wednesday.

A number of other equities analysts also recently commented on OLLI. Royal Bank of Canada reissued an “outperform” rating and issued a $130.00 target price on shares of Ollie’s Bargain Outlet in a research note on Monday, December 23rd. Wells Fargo & Company raised their price objective on Ollie’s Bargain Outlet from $95.00 to $105.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 11th. Piper Sandler upped their target price on Ollie’s Bargain Outlet from $107.00 to $126.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. Truist Financial raised their target price on Ollie’s Bargain Outlet from $109.00 to $121.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Finally, Loop Capital upped their price target on Ollie’s Bargain Outlet from $120.00 to $130.00 and gave the stock a “buy” rating in a report on Monday, December 23rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, Ollie’s Bargain Outlet currently has a consensus rating of “Moderate Buy” and a consensus price target of $118.62.

Ollie’s Bargain Outlet Stock Performance

Ollie’s Bargain Outlet stock traded down $2.63 during midday trading on Wednesday, reaching $97.00. The stock had a trading volume of 1,470,672 shares, compared to its average volume of 1,157,572. The stock’s 50-day simple moving average is $104.10 and its 200 day simple moving average is $98.57. Ollie’s Bargain Outlet has a twelve month low of $68.05 and a twelve month high of $120.03. The stock has a market capitalization of $5.94 billion, a PE ratio of 28.96, a price-to-earnings-growth ratio of 2.79 and a beta of 0.82.

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

Insider Buying and Selling at Ollie’s Bargain Outlet

In other news, SVP James J. Comitale sold 5,325 shares of the company’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $113.95, for a total value of $606,783.75. Following the sale, the senior vice president now owns 3,140 shares in the company, valued at approximately $357,803. This represents a 62.91 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Larry Kraus sold 10,646 shares of Ollie’s Bargain Outlet stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $115.58, for a total value of $1,230,464.68. Following the completion of the transaction, the senior vice president now owns 1,905 shares of the company’s stock, valued at $220,179.90. This trade represents a 84.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 90,172 shares of company stock worth $9,878,158 in the last ninety days. 0.87% of the stock is owned by insiders.

Institutional Investors Weigh In On Ollie’s Bargain Outlet

Several institutional investors and hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC increased its stake in Ollie’s Bargain Outlet by 37.9% during the third quarter. GAMMA Investing LLC now owns 651 shares of the company’s stock valued at $63,000 after purchasing an additional 179 shares during the last quarter. Eagle Bay Advisors LLC bought a new stake in shares of Ollie’s Bargain Outlet during the 4th quarter valued at about $79,000. Northwest & Ethical Investments L.P. acquired a new stake in Ollie’s Bargain Outlet during the third quarter worth about $117,000. LRI Investments LLC lifted its holdings in Ollie’s Bargain Outlet by 2,356.1% in the third quarter. LRI Investments LLC now owns 1,400 shares of the company’s stock worth $130,000 after acquiring an additional 1,343 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Ollie’s Bargain Outlet in the third quarter valued at approximately $151,000.

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.