Ollie’s Bargain Outlet (NASDAQ:OLLI) Rating Increased to Buy at Citigroup

Ollie’s Bargain Outlet (NASDAQ:OLLI) was upgraded by stock analysts at Citigroup from a “sell” rating to a “buy” rating in a note issued to investors on Wednesday, Marketbeat Ratings reports. The brokerage presently has a $133.00 price objective on the stock, up from their previous price objective of $64.00. Citigroup’s price objective points to a potential upside of 13.07% from the stock’s current price.

OLLI has been the topic of a number of other research reports. Piper Sandler boosted their target price on Ollie’s Bargain Outlet from $107.00 to $126.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. JPMorgan Chase & Co. boosted their price target on shares of Ollie’s Bargain Outlet from $105.00 to $135.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. Royal Bank of Canada raised their price objective on shares of Ollie’s Bargain Outlet from $120.00 to $130.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. Craig Hallum boosted their target price on Ollie’s Bargain Outlet from $107.00 to $130.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Finally, UBS Group raised their price target on Ollie’s Bargain Outlet from $97.00 to $99.00 and gave the company a “neutral” rating in a report on Friday, August 30th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $117.85.

Ollie’s Bargain Outlet Stock Up 2.7 %

OLLI opened at $117.63 on Wednesday. Ollie’s Bargain Outlet has a 52 week low of $68.05 and a 52 week high of $118.95. The business’s 50 day moving average is $97.49 and its two-hundred day moving average is $96.00. The firm has a market cap of $7.21 billion, a price-to-earnings ratio of 35.11, a price-to-earnings-growth ratio of 2.79 and a beta of 0.85.

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

Insider Transactions at Ollie’s Bargain Outlet

In other news, Director Thomas Hendrickson sold 6,250 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $114.74, for a total transaction of $717,125.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Der Valk Eric Van sold 7,479 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $100.32, for a total value of $750,293.28. Following the completion of the sale, the president now directly owns 5,615 shares in the company, valued at approximately $563,296.80. The trade was a 57.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 97,651 shares of company stock valued at $10,628,452 in the last 90 days. 0.87% of the stock is currently owned by insiders.

Institutional Trading of Ollie’s Bargain Outlet

A number of large investors have recently made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC purchased a new position in Ollie’s Bargain Outlet in the 2nd quarter valued at about $362,000. Envestnet Portfolio Solutions Inc. raised its position in shares of Ollie’s Bargain Outlet by 31.7% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 5,208 shares of the company’s stock valued at $511,000 after buying an additional 1,254 shares during the last quarter. Fifth Third Wealth Advisors LLC purchased a new position in shares of Ollie’s Bargain Outlet during the second quarter valued at approximately $189,000. Tributary Capital Management LLC boosted its position in Ollie’s Bargain Outlet by 0.3% during the second quarter. Tributary Capital Management LLC now owns 280,681 shares of the company’s stock worth $27,554,000 after acquiring an additional 702 shares during the last quarter. Finally, Bailard Inc. purchased a new stake in Ollie’s Bargain Outlet in the 2nd quarter worth approximately $520,000.

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.