KeyCorp Reaffirms "Overweight" Rating for Ollie's Bargain Outlet (NASDAQ:OLLI)

Ollie's Bargain Outlet (NASDAQ:OLLI - Get Free Report)'s stock had its "overweight" rating reiterated by equities research analysts at KeyCorp in a research note issued on Wednesday,Benzinga reports. They presently have a $135.00 target price on the stock. KeyCorp's target price suggests a potential upside of 17.38% from the company's current price.

A number of other equities analysts have also issued reports on the company. JPMorgan Chase & Co. raised their target price on Ollie's Bargain Outlet from $135.00 to $137.00 and gave the stock an "overweight" rating in a research note on Monday, May 19th. UBS Group raised their target price on Ollie's Bargain Outlet from $117.00 to $123.00 and gave the stock a "neutral" rating in a research note on Thursday, March 20th. Morgan Stanley raised their target price on Ollie's Bargain Outlet from $108.00 to $118.00 and gave the stock an "equal weight" rating in a research note on Thursday, March 20th. Jefferies Financial Group lowered Ollie's Bargain Outlet from a "buy" rating to a "hold" rating and reduced their target price for the stock from $125.00 to $111.00 in a research note on Tuesday, February 4th. Finally, Royal Bank of Canada lifted their price objective on Ollie's Bargain Outlet from $130.00 to $133.00 and gave the company an "outperform" rating in a research note on Friday, March 7th. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, Ollie's Bargain Outlet presently has an average rating of "Moderate Buy" and a consensus target price of $124.50.

Ollie's Bargain Outlet Price Performance

NASDAQ OLLI traded up $0.60 during midday trading on Wednesday, hitting $115.01. 1,138,716 shares of the company traded hands, compared to its average volume of 1,179,544. The company has a market cap of $7.06 billion, a PE ratio of 34.33, a price-to-earnings-growth ratio of 2.21 and a beta of 0.45. The company's 50-day simple moving average is $111.59 and its 200-day simple moving average is $107.79. Ollie's Bargain Outlet has a 52 week low of $82.84 and a 52 week high of $122.15.

Ollie's Bargain Outlet (NASDAQ:OLLI - Get Free Report) last posted its quarterly earnings data on Tuesday, June 3rd. The company reported $0.75 earnings per share for the quarter, topping analysts' consensus estimates of $0.70 by $0.05. The firm had revenue of $576.77 million during the quarter, compared to analysts' expectations of $565.04 million. Ollie's Bargain Outlet had a return on equity of 13.15% and a net margin of 9.22%. The business's quarterly revenue was up 13.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.73 EPS. On average, research analysts predict that Ollie's Bargain Outlet will post 3.29 earnings per share for the current year.

Insider Activity at Ollie's Bargain Outlet

In other Ollie's Bargain Outlet news, CFO Robert F. Helm sold 2,145 shares of the business's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $108.50, for a total transaction of $232,732.50. Following the completion of the sale, the chief financial officer now directly owns 3,888 shares in the company, valued at approximately $421,848. The trade was a 35.55% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Der Valk Eric Van sold 525 shares of the business's stock in a transaction that occurred on Thursday, April 3rd. The stock was sold at an average price of $112.94, for a total value of $59,293.50. Following the transaction, the chief executive officer now owns 6,793 shares in the company, valued at approximately $767,201.42. This represents a 7.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 37,897 shares of company stock worth $4,227,970 in the last 90 days. Corporate insiders own 0.75% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in Ollie's Bargain Outlet by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 5,821,957 shares of the company's stock valued at $638,843,000 after acquiring an additional 70,496 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in Ollie's Bargain Outlet by 173.8% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,644,774 shares of the company's stock valued at $509,671,000 after acquiring an additional 2,948,393 shares during the last quarter. Congress Asset Management Co. lifted its holdings in Ollie's Bargain Outlet by 181.6% in the fourth quarter. Congress Asset Management Co. now owns 1,916,584 shares of the company's stock valued at $210,307,000 after acquiring an additional 1,235,994 shares during the last quarter. Invesco Ltd. lifted its holdings in Ollie's Bargain Outlet by 1.1% in the fourth quarter. Invesco Ltd. now owns 1,645,472 shares of the company's stock valued at $180,558,000 after acquiring an additional 17,302 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its holdings in Ollie's Bargain Outlet by 12.9% in the fourth quarter. Alliancebernstein L.P. now owns 1,629,572 shares of the company's stock valued at $178,813,000 after acquiring an additional 186,313 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.