Ollie’s Bargain Outlet (NASDAQ:OLLI) Coverage Initiated by Analysts at Bank of America

Bank of America initiated coverage on shares of Ollie’s Bargain Outlet (NASDAQ:OLLI) in a research note released on Monday morning, StockNewsAPI reports. The firm issued a buy rating and a $92.00 price objective on the stock.

OLLI has been the topic of several other research reports. Truist Financial 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 $86.00 in a research report on Friday. The Goldman Sachs Group increased their target price on shares of Ollie’s Bargain Outlet from $91.00 to $104.00 and gave the stock a buy rating in a report on Thursday, March 21st. Royal Bank of Canada restated an outperform rating and issued a $86.00 price target on shares of Ollie’s Bargain Outlet in a research note on Thursday, March 21st. JPMorgan Chase & Co. reduced their price objective on Ollie’s Bargain Outlet from $88.00 to $85.00 and set a neutral rating on the stock in a research note on Thursday, March 21st. Finally, Loop Capital raised Ollie’s Bargain Outlet from a hold rating to a buy rating and boosted their target price 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 eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Ollie’s Bargain Outlet has a consensus rating of Moderate Buy and a consensus price target of $87.08.

Ollie’s Bargain Outlet Stock Performance

NASDAQ:OLLI opened at $78.68 on Monday. Ollie’s Bargain Outlet has a fifty-two week low of $52.93 and a fifty-two week high of $84.38. The company has a 50 day moving average price of $75.03 and a 200 day moving average price of $75.20. The stock has a market capitalization of $4.82 billion, a P/E ratio of 26.95 and a beta of 0.76.

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

Insider Activity

In related news, VP Larry Kraus sold 2,928 shares of the business’s stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $79.00, for a total transaction of $231,312.00. Following the completion of the sale, the vice president now owns 1,905 shares in the company, valued at $150,495. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Ollie’s Bargain Outlet news, Director Thomas Hendrickson sold 5,000 shares of the company’s stock in a transaction 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 completion of the transaction, the director now owns 5,659 shares in the company, valued at $409,089.11. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Larry Kraus sold 2,928 shares of Ollie’s Bargain Outlet stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $79.00, for a total value of $231,312.00. Following the sale, the vice president now owns 1,905 shares in the company, valued at approximately $150,495. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 27,171 shares of company stock worth $2,084,338. 0.87% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in OLLI. Lisanti Capital Growth LLC lifted its stake in Ollie’s Bargain Outlet by 30.6% in the first quarter. Lisanti Capital Growth LLC now owns 74,490 shares of the company’s stock valued at $5,927,000 after buying an additional 17,435 shares during the last quarter. Envestnet Portfolio Solutions Inc. raised its position in Ollie’s Bargain Outlet by 24.5% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 3,954 shares of the company’s stock valued at $315,000 after purchasing an additional 778 shares during the last quarter. ORG Partners LLC acquired a new stake in Ollie’s Bargain Outlet during the 1st quarter worth $28,000. Duality Advisers LP purchased a new position in Ollie’s Bargain Outlet during the 1st quarter worth $303,000. Finally, Texas Permanent School Fund Corp increased its stake in Ollie’s Bargain Outlet by 1.1% in the first quarter. Texas Permanent School Fund Corp now owns 53,905 shares of the company’s stock valued at $4,289,000 after purchasing an additional 602 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.