Ollie’s Bargain Outlet (NASDAQ:OLLI) Stock Price Expected to Rise, Truist Financial Analyst Says

Ollie’s Bargain Outlet (NASDAQ:OLLI) had its price objective boosted by analysts at Truist Financial from $128.00 to $146.00 in a note issued to investors on Wednesday, MarketBeat reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s price target would suggest a potential upside of 9.11% from the stock’s previous close.

A number of other brokerages have also weighed in on OLLI. Piper Sandler reissued an “overweight” rating and issued a $123.00 target price (down previously from $124.00) on shares of Ollie’s Bargain Outlet in a research report on Wednesday, June 4th. JPMorgan Chase & Co. boosted their target price on Ollie’s Bargain Outlet from $137.00 to $159.00 and gave the stock an “overweight” rating in a research report on Monday, July 21st. Loop Capital lowered Ollie’s Bargain Outlet from a “buy” rating to a “hold” rating and set a $130.00 target price for the company. in a research report on Tuesday, June 24th. KeyCorp set a $145.00 target price on Ollie’s Bargain Outlet and gave the company an “overweight” rating in a report on Thursday, June 26th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $133.00 price target on shares of Ollie’s Bargain Outlet in a research report on Wednesday, June 4th. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $128.86.

Ollie’s Bargain Outlet Stock Up 0.2%

OLLI opened at $133.81 on Wednesday. The stock has a market cap of $8.21 billion, a PE ratio of 41.17, a P/E/G ratio of 2.99 and a beta of 0.40. Ollie’s Bargain Outlet has a 52 week low of $86.29 and a 52 week high of $141.74. The business’s fifty day simple moving average is $130.11 and its 200 day simple moving average is $116.17.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last issued its quarterly earnings results on Tuesday, June 3rd. The company reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.05. Ollie’s Bargain Outlet had a net margin of 8.59% and a return on equity of 12.27%. The business had revenue of $576.77 million for the quarter, compared to analysts’ expectations of $565.04 million. During the same period last year, the business earned $0.73 earnings per share. The business’s quarterly revenue was up 13.4% on a year-over-year basis. As a group, equities analysts anticipate that Ollie’s Bargain Outlet will post 3.29 earnings per share for the current year.

Insider Transactions at Ollie’s Bargain Outlet

In related news, CEO Der Valk Eric Van sold 728 shares of the stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $112.85, for a total value of $82,154.80. Following the completion of the sale, the chief executive officer directly owned 7,761 shares of the company’s stock, valued at approximately $875,828.85. This represents a 8.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.75% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in 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 during the period. Invesco Ltd. boosted its position in shares of Ollie’s Bargain Outlet by 55.5% during the 2nd quarter. Invesco Ltd. now owns 2,552,605 shares of the company’s stock valued at $336,382,000 after acquiring an additional 911,364 shares during the last quarter. Hood River Capital Management LLC boosted its position in shares of Ollie’s Bargain Outlet by 165.4% during the 2nd quarter. Hood River Capital Management LLC now owns 1,240,339 shares of the company’s stock valued at $163,452,000 after acquiring an additional 773,013 shares during the last quarter. Norges Bank bought a new position in shares of Ollie’s Bargain Outlet during the 2nd quarter valued at approximately $83,622,000. Finally, Wellington Management Group LLP boosted its position in shares of 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 valued at $98,301,000 after acquiring an additional 615,257 shares during the last quarter.

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.