Ollie’s Bargain Outlet Holdings Inc. (OLLI) Sees Large Volume Increase
Shares of Ollie’s Bargain Outlet Holdings Inc. (NASDAQ:OLLI) saw unusually-strong trading volume on Tuesday . Approximately 651,667 shares traded hands during mid-day trading, an increase of 39% from the previous session’s volume of 469,906 shares.The stock last traded at $25.76 and had previously closed at $26.08.
Several analysts have recently issued reports on OLLI shares. Piper Jaffray Cos. reissued a “buy” rating and issued a $28.00 price target on shares of Ollie’s Bargain Outlet Holdings in a research report on Monday, June 13th. Jefferies Group reaffirmed a “buy” rating and set a $30.00 price objective (up previously from $29.00) on shares of Ollie’s Bargain Outlet Holdings in a research note on Thursday, June 2nd. Johnson Rice initiated coverage on shares of Ollie’s Bargain Outlet Holdings in a research note on Wednesday, June 1st. They set a “buy” rating for the company. Zacks Investment Research cut shares of Ollie’s Bargain Outlet Holdings from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 3rd. Finally, Royal Bank Of Canada boosted their price objective on shares of Ollie’s Bargain Outlet Holdings from $30.00 to $32.00 and gave the company an “outperform” rating in a research note on Thursday. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $26.57.
The company has a 50-day moving average price of $26.44 and a 200-day moving average price of $24.48. The company has a market capitalization of $1.68 billion and a price-to-earnings ratio of 40.079.
Ollie’s Bargain Outlet Holdings (NASDAQ:OLLI) last announced its quarterly earnings results on Wednesday, August 31st. The company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.03. The company had revenue of $211.30 million for the quarter, compared to analysts’ expectations of $207.61 million. The business’s revenue was up 16.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.15 EPS. Equities analysts expect that Ollie’s Bargain Outlet Holdings Inc. will post $0.87 earnings per share for the current year.
In other news, major shareholder Ccmp Capital, Lp sold 27,951,440 shares of the firm’s stock in a transaction dated Friday, June 10th. The shares were sold at an average price of $25.00, for a total transaction of $698,786,000.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Omar Segura sold 21,083 shares of the firm’s stock in a transaction dated Tuesday, August 23rd. The shares were sold at an average price of $28.03, for a total transaction of $590,956.49. Following the sale, the senior vice president now directly owns 15,333 shares in the company, valued at approximately $429,783.99. The disclosure for this sale can be found here.
Ollie’s Bargain Outlet Holdings, Inc is a retailer of closeouts, excess inventory and salvage merchandise. The Company, through its wholly owned subsidiary, Ollie’s Bargain Outlet, Inc, offers products of various categories, including housewares, food, books and stationery, bed and bath, floor coverings, toys and hardware.
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