JPMorgan Chase & Co. Issues Positive Forecast for Ollie’s Bargain Outlet (NASDAQ:OLLI) Stock Price

Ollie’s Bargain Outlet (NASDAQ:OLLI) had its price objective raised by JPMorgan Chase & Co. from $135.00 to $137.00 in a research note released on Monday morning,Benzinga reports. They currently have an overweight rating on the stock.

A number of other brokerages have also weighed in on OLLI. UBS Group upped their target price on shares of Ollie’s Bargain Outlet from $117.00 to $123.00 and gave the stock a “neutral” rating in a research report on Thursday, March 20th. Piper Sandler lowered their price objective on shares of Ollie’s Bargain Outlet from $126.00 to $124.00 and set an “overweight” rating for the company in a research report on Thursday, March 20th. Morgan Stanley increased their price objective on shares of Ollie’s Bargain Outlet from $108.00 to $118.00 and gave the company an “equal weight” rating in a research report on Thursday, March 20th. Royal Bank of Canada increased their target price on shares of Ollie’s Bargain Outlet from $130.00 to $133.00 and gave the company an “outperform” rating in a research note on Friday, March 7th. Finally, StockNews.com raised shares of Ollie’s Bargain Outlet from a “sell” rating to a “hold” rating in a research note on Tuesday, May 13th. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $123.23.

Ollie’s Bargain Outlet Price Performance

Shares of NASDAQ:OLLI opened at $120.75 on Monday. Ollie’s Bargain Outlet has a 1-year low of $72.22 and a 1-year high of $121.11. The company has a market capitalization of $7.41 billion, a P/E ratio of 36.04, a P/E/G ratio of 2.21 and a beta of 0.45. The firm’s 50 day simple moving average is $109.98 and its two-hundred day simple moving average is $106.47.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last issued its quarterly earnings results on Wednesday, March 19th. The company reported $1.19 earnings per share for the quarter, missing the consensus estimate of $1.20 by ($0.01). Ollie’s Bargain Outlet had a net margin of 9.22% and a return on equity of 13.15%. The firm had revenue of $667.10 million for the quarter, compared to analysts’ expectations of $674.61 million. During the same period in the prior year, the firm earned $1.23 EPS. Ollie’s Bargain Outlet’s revenue for the quarter was up 2.8% compared to the same quarter last year. On average, sell-side analysts anticipate 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 Kevin Mclain sold 4,799 shares of the firm’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $115.56, for a total value of $554,572.44. Following the sale, the senior vice president now directly owns 12,336 shares in the company, valued at approximately $1,425,548.16. This trade represents a 28.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Robert F. Helm sold 2,139 shares of the firm’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $115.74, for a total transaction of $247,567.86. Following the completion of the sale, the chief financial officer now owns 2,961 shares in the company, valued at $342,706.14. This represents a 41.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 37,897 shares of company stock valued at $4,227,970. Company insiders own 0.75% of the company’s stock.

Institutional Trading of Ollie’s Bargain Outlet

A number of institutional investors have recently bought and sold shares of OLLI. Kayne Anderson Rudnick Investment Management LLC boosted its stake in Ollie’s Bargain Outlet by 173.8% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,644,774 shares of the company’s stock worth $509,671,000 after purchasing an additional 2,948,393 shares in the last quarter. Congress Asset Management Co. raised its position in Ollie’s Bargain Outlet by 181.6% during the 4th quarter. Congress Asset Management Co. now owns 1,916,584 shares of the company’s stock worth $210,307,000 after buying an additional 1,235,994 shares during the last quarter. Norges Bank purchased a new position in Ollie’s Bargain Outlet during the 4th quarter worth approximately $80,741,000. Stephens Investment Management Group LLC purchased a new position in Ollie’s Bargain Outlet during the 4th quarter worth approximately $78,356,000. Finally, Wellington Management Group LLP raised its position in Ollie’s Bargain Outlet by 268.0% during the 1st quarter. Wellington Management Group LLP now owns 844,799 shares of the company’s stock worth $98,301,000 after buying an additional 615,257 shares during the last quarter.

Ollie’s Bargain Outlet Company Profile

Ollie’s Bargain Outlet Holdings, Inc is a holding company, which engages in the retail of closeouts, excess inventory, and salvage merchandise. It offers overstocks, package changes, manufacturer refurbished goods, and irregulars. The company’s products include housewares, food, books and stationery, bed and bath, floor coverings, electronics and toys.