Ollie’s Bargain Outlet (NASDAQ:OLLI) Reaches New 1-Year High on Analyst Upgrade

Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)’s stock price reached a new 52-week high on Monday after JPMorgan Chase & Co. raised their price target on the stock from $137.00 to $159.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Ollie’s Bargain Outlet traded as high as $135.91 and last traded at $134.89, with a volume of 861337 shares. The stock had previously closed at $132.16.

Other analysts have also recently issued reports about the company. Piper Sandler reiterated an “overweight” rating and issued a $123.00 target price (down from $124.00) on shares of Ollie’s Bargain Outlet in a report on Wednesday, June 4th. Wall Street Zen upgraded Ollie’s Bargain Outlet from a “sell” rating to a “hold” rating in a report on Tuesday, May 13th. Truist Financial increased their price target on Ollie’s Bargain Outlet from $126.00 to $128.00 and gave the stock a “buy” rating in a report on Wednesday, June 4th. Loop Capital cut Ollie’s Bargain Outlet from a “buy” rating to a “hold” rating and set a $130.00 price target on the stock. in a report on Tuesday, June 24th. Finally, KeyCorp set a $145.00 price target on Ollie’s Bargain Outlet and gave the stock an “overweight” rating in a report on Thursday, June 26th. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $126.79.

Insider Buying and Selling at Ollie’s Bargain Outlet

In other news, CEO Der Valk Eric Van sold 728 shares of the company’s stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $112.85, for a total transaction of $82,154.80. Following the transaction, the chief executive officer directly owned 7,761 shares of the company’s stock, valued at $875,828.85. This represents a 8.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.87% of the stock is owned by insiders.

Institutional Investors Weigh In On Ollie’s Bargain Outlet

Institutional investors and hedge funds have recently bought and sold shares of the stock. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Ollie’s Bargain Outlet by 489.7% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 230 shares of the company’s stock valued at $25,000 after buying an additional 191 shares during the last quarter. HM Payson & Co. purchased a new stake in Ollie’s Bargain Outlet in the 1st quarter valued at $30,000. City Holding Co. purchased a new stake in shares of Ollie’s Bargain Outlet during the 1st quarter valued at $31,000. Maseco LLP purchased a new stake in shares of Ollie’s Bargain Outlet during the 2nd quarter valued at $36,000. Finally, Brown Brothers Harriman & Co. purchased a new stake in shares of Ollie’s Bargain Outlet during the 4th quarter valued at $33,000.

Ollie’s Bargain Outlet Trading Up 2.1%

The stock has a market capitalization of $8.27 billion, a PE ratio of 41.50, a price-to-earnings-growth ratio of 2.97 and a beta of 0.41. The firm has a 50-day moving average price of $121.04 and a 200-day moving average price of $112.03.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last announced its earnings results on Tuesday, June 3rd. The company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.05. Ollie’s Bargain Outlet had a return on equity of 12.27% and a net margin of 8.59%. The firm had revenue of $576.77 million during the quarter, compared to analyst estimates of $565.04 million. During the same period last year, the firm posted $0.73 EPS. The business’s revenue was up 13.4% compared to the same quarter last year. Sell-side analysts expect that Ollie’s Bargain Outlet Holdings, Inc. will post 3.29 earnings per share for the current fiscal year.

About Ollie’s Bargain Outlet

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.