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

Ollie’s Bargain Outlet (NASDAQ:OLLI) was upgraded by equities researchers at Truist Financial from a “hold” rating to a “buy” rating in a research note issued on Friday, Marketbeat reports. The firm presently has a $86.00 target price on the stock, up from their previous target price of $80.00. Truist Financial’s price objective suggests a potential upside of 11.98% from the company’s current price.

OLLI has been the subject of a number of other research reports. JPMorgan Chase & Co. lowered their price target on Ollie’s Bargain Outlet from $88.00 to $85.00 and set a “neutral” rating for the company in a research report on Thursday, March 21st. The Goldman Sachs Group lifted their price target on shares of Ollie’s Bargain Outlet from $91.00 to $104.00 and gave the company a “buy” rating in a report on Thursday, March 21st. Royal Bank of Canada restated an “outperform” rating and issued a $86.00 price objective on shares of Ollie’s Bargain Outlet in a report on Thursday, March 21st. Craig Hallum lifted their target price on shares of Ollie’s Bargain Outlet from $98.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, March 21st. Finally, Loop Capital raised shares of Ollie’s Bargain Outlet from a “hold” rating to a “buy” rating and increased their price target for the stock from $80.00 to $90.00 in a research note on Friday, April 5th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $85.42.

Ollie’s Bargain Outlet Stock Performance

Shares of Ollie’s Bargain Outlet stock opened at $76.80 on Friday. Ollie’s Bargain Outlet has a 52-week low of $52.93 and a 52-week high of $84.38. The company’s 50 day moving average price is $75.08 and its 200-day moving average price is $75.13. The stock has a market capitalization of $4.71 billion, a price-to-earnings ratio of 26.30 and a beta of 0.76.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last announced its quarterly earnings results on Wednesday, March 20th. The company reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.16 by $0.07. The business had revenue of $648.90 million for the quarter, compared to analyst estimates of $649.39 million. Ollie’s Bargain Outlet had a net margin of 8.63% and a return on equity of 12.55%. The company’s revenue was up 18.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.84 EPS. As a group, equities research analysts forecast that Ollie’s Bargain Outlet will post 3.19 earnings per share for the current fiscal year.

Insider Transactions at Ollie’s Bargain Outlet

In other news, Director Thomas Hendrickson sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, April 18th. The shares were sold at an average price of $72.29, for a total value of $361,450.00. Following the transaction, the director now owns 5,659 shares in the company, valued at $409,089.11. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Ollie’s Bargain Outlet news, Director Thomas Hendrickson sold 5,000 shares of the company’s stock in a transaction dated Thursday, April 18th. The shares were sold at an average price of $72.29, for a total transaction of $361,450.00. Following the transaction, the director now owns 5,659 shares in the company, valued at approximately $409,089.11. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO John W. Swygert sold 11,756 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $75.22, for a total transaction of $884,286.32. Following the sale, the chief executive officer now directly owns 48,200 shares in the company, valued at approximately $3,625,604. The disclosure for this sale can be found here. Insiders sold a total of 27,171 shares of company stock valued at $2,084,338 in the last quarter. 0.86% of the stock is owned by insiders.

Hedge Funds Weigh In On Ollie’s Bargain Outlet

Hedge funds and other institutional investors have recently modified their holdings of the company. Treasurer of the State of North Carolina grew its holdings in shares of Ollie’s Bargain Outlet by 0.5% in the third quarter. Treasurer of the State of North Carolina now owns 27,065 shares of the company’s stock worth $2,089,000 after acquiring an additional 140 shares during the period. Alliance Wealth Advisors LLC UT boosted its position in Ollie’s Bargain Outlet by 3.4% in the fourth quarter. Alliance Wealth Advisors LLC UT now owns 4,410 shares of the company’s stock worth $335,000 after purchasing an additional 144 shares during the last quarter. Precision Wealth Strategies LLC grew its stake in shares of Ollie’s Bargain Outlet by 3.0% during the 3rd quarter. Precision Wealth Strategies LLC now owns 5,179 shares of the company’s stock valued at $400,000 after purchasing an additional 149 shares during the period. Teacher Retirement System of Texas increased its position in shares of Ollie’s Bargain Outlet by 0.7% during the 3rd quarter. Teacher Retirement System of Texas now owns 22,294 shares of the company’s stock valued at $1,721,000 after purchasing an additional 151 shares during the last quarter. Finally, Diversified Trust Co lifted its stake in shares of Ollie’s Bargain Outlet by 4.8% in the 4th quarter. Diversified Trust Co now owns 3,636 shares of the company’s stock worth $276,000 after purchasing an additional 168 shares during the period.

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.