Ollie’s Bargain Outlet (NASDAQ:OLLI) Raised to Buy at BidaskClub

Ollie’s Bargain Outlet (NASDAQ:OLLI) was upgraded by research analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued to investors on Monday, April 1st, BidAskClub reports.

Several other research analysts have also commented on the company. Zacks Investment Research lowered Ollie’s Bargain Outlet from a “buy” rating to a “hold” rating in a research report on Friday, March 29th. Morgan Stanley lifted their price target on Ollie’s Bargain Outlet from $74.00 to $79.00 and gave the stock an “equal weight” rating in a research report on Wednesday, March 27th. Bank of America reaffirmed a “buy” rating and set a $87.00 price target (down previously from $98.00) on shares of Ollie’s Bargain Outlet in a research report on Wednesday, January 9th. Finally, ValuEngine lowered Ollie’s Bargain Outlet from a “strong-buy” rating to a “buy” rating in a report on Thursday, December 6th. Eight research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $89.40.

Shares of OLLI traded up $0.88 during midday trading on Monday, hitting $96.05. The company had a trading volume of 459,531 shares, compared to its average volume of 854,546. The stock has a market capitalization of $6.07 billion, a PE ratio of 52.49, a PEG ratio of 1.85 and a beta of 0.99. Ollie’s Bargain Outlet has a 1 year low of $59.72 and a 1 year high of $97.97.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last posted its earnings results on Tuesday, March 26th. The company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.01. The firm had revenue of $393.93 million during the quarter, compared to analysts’ expectations of $398.13 million. Ollie’s Bargain Outlet had a return on equity of 13.71% and a net margin of 10.88%. The firm’s revenue was up 10.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.51 earnings per share. Research analysts forecast that Ollie’s Bargain Outlet will post 2.16 EPS for the current fiscal year.

In related news, CEO Mark L. Butler sold 95,337 shares of the company’s stock in a transaction on Tuesday, February 5th. The stock was sold at an average price of $80.49, for a total transaction of $7,673,675.13. Following the transaction, the chief executive officer now owns 2,528,742 shares of the company’s stock, valued at $203,538,443.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Kenneth Robert Bertram sold 4,000 shares of the company’s stock in a transaction on Tuesday, February 12th. The stock was sold at an average price of $85.42, for a total value of $341,680.00. Following the transaction, the vice president now directly owns 19,967 shares in the company, valued at approximately $1,705,581.14. The disclosure for this sale can be found here. Insiders have sold 330,788 shares of company stock worth $27,072,068 in the last ninety days. 20.27% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in OLLI. JPMorgan Chase & Co. lifted its holdings in Ollie’s Bargain Outlet by 4.0% during the third quarter. JPMorgan Chase & Co. now owns 914,257 shares of the company’s stock valued at $87,861,000 after purchasing an additional 34,762 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Ollie’s Bargain Outlet by 0.5% during the third quarter. Bank of New York Mellon Corp now owns 950,375 shares of the company’s stock valued at $91,331,000 after buying an additional 4,733 shares during the last quarter. BlackRock Inc. raised its position in shares of Ollie’s Bargain Outlet by 4.7% during the third quarter. BlackRock Inc. now owns 5,727,645 shares of the company’s stock valued at $550,427,000 after buying an additional 259,631 shares during the last quarter. Rafferty Asset Management LLC bought a new stake in shares of Ollie’s Bargain Outlet during the third quarter valued at approximately $313,000. Finally, Dimensional Fund Advisors LP raised its position in shares of Ollie’s Bargain Outlet by 1.4% during the third quarter. Dimensional Fund Advisors LP now owns 899,859 shares of the company’s stock valued at $86,473,000 after buying an additional 12,469 shares during the last quarter. 89.45% of the stock is currently owned by hedge funds and other institutional investors.

Ollie’s Bargain Outlet Company Profile

Ollie's Bargain Outlet Holdings, Inc operates as a retailer of brand name merchandise. The company offers food products, housewares, books and stationery, bed and bath products, health and beauty products, floor coverings, electronics, and toys; and other products, including hardware, personal health care, candy, clothing, sporting, pet and lawn, and garden products.

Further Reading: Trading Strategy Examples and Plans

Analyst Recommendations for Ollie`s Bargain Outlet (NASDAQ:OLLI)

Receive News & Ratings for Ollie's Bargain Outlet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ollie's Bargain Outlet and related companies with MarketBeat.com's FREE daily email newsletter.