Ollie's Bargain Outlet (NASDAQ:OLLI) Cut to "Hold" at Loop Capital

Ollie's Bargain Outlet (NASDAQ:OLLI - Get Free Report) was downgraded by research analysts at Loop Capital from a "buy" rating to a "hold" rating in a research report issued on Tuesday, Marketbeat reports. They currently have a $130.00 price target on the stock. Loop Capital's price target would indicate a potential downside of 2.29% from the stock's current price.

Several other equities analysts also recently commented on OLLI. KeyCorp restated an "overweight" rating and issued a $135.00 price target on shares of Ollie's Bargain Outlet in a research note on Wednesday, June 4th. UBS Group raised their target price on shares of Ollie's Bargain Outlet from $117.00 to $123.00 and gave the stock a "neutral" rating in a report on Thursday, March 20th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $133.00 price target on shares of Ollie's Bargain Outlet in a research report on Wednesday, June 4th. Truist Financial increased their price target on Ollie's Bargain Outlet from $126.00 to $128.00 and gave the stock a "buy" rating in a research report on Wednesday, June 4th. Finally, Wall Street Zen upgraded Ollie's Bargain Outlet from a "sell" rating to a "hold" rating in a research note on Tuesday, May 13th. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $125.21.

Ollie's Bargain Outlet Trading Down 0.3%

Shares of NASDAQ:OLLI traded down $0.40 on Tuesday, hitting $133.04. The company had a trading volume of 572,624 shares, compared to its average volume of 1,168,839. The stock has a 50 day moving average price of $114.24 and a 200 day moving average price of $110.37. The stock has a market cap of $8.16 billion, a price-to-earnings ratio of 40.88, a P/E/G ratio of 2.96 and a beta of 0.37. Ollie's Bargain Outlet has a 1-year low of $86.05 and a 1-year high of $135.19.

Ollie's Bargain Outlet (NASDAQ:OLLI - Get Free Report) last issued its quarterly earnings data on Tuesday, June 3rd. The company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.05. The firm had revenue of $576.77 million during the quarter, compared to the consensus estimate of $565.04 million. Ollie's Bargain Outlet had a net margin of 8.59% and a return on equity of 12.27%. The business's revenue for the quarter was up 13.4% compared to the same quarter last year. During the same period last year, the business posted $0.73 earnings per share. Sell-side analysts anticipate that Ollie's Bargain Outlet will post 3.29 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Robert F. Helm sold 312 shares of the stock in a transaction on Monday, April 7th. The shares were sold at an average price of $107.17, for a total transaction of $33,437.04. Following the completion of the sale, the chief financial officer now directly owns 3,273 shares in the company, valued at $350,767.41. This represents a 8.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Der Valk Eric Van sold 1,153 shares of the firm's stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $110.85, for a total value of $127,810.05. Following the sale, the chief executive officer now directly owns 6,768 shares of the company's stock, valued at $750,232.80. This represents a 14.56% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,472 shares of company stock valued at $2,109,280. 0.75% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Ollie's Bargain Outlet

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Kayne Anderson Rudnick Investment Management LLC lifted its stake in shares of 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 buying an additional 2,948,393 shares in the last quarter. Norges Bank bought a new position in Ollie's Bargain Outlet in the 4th quarter valued at about $80,741,000. Wellington Management Group LLP boosted its stake in 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 purchasing an additional 615,257 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in Ollie's Bargain Outlet by 130.3% during the 1st quarter. Ameriprise Financial Inc. now owns 828,743 shares of the company's stock worth $96,428,000 after purchasing an additional 468,944 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Ollie's Bargain Outlet in the fourth quarter worth approximately $48,633,000.

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.