Ollie's Bargain Outlet (NASDAQ:OLLI) was downgraded by stock analysts at BidaskClub from a "strong-buy" rating to a "buy" rating in a report released on Thursday, BidAskClub reports.
Other equities research analysts also recently issued reports about the stock. Goldman Sachs Group started coverage on shares of Ollie's Bargain Outlet in a report on Monday, May 18th. They issued a "buy" rating and a $84.00 price target for the company. ValuEngine downgraded shares of Ollie's Bargain Outlet from a "buy" rating to a "hold" rating in a report on Saturday, May 30th. TheStreet raised shares of Ollie's Bargain Outlet from a "c+" rating to a "b-" rating in a report on Wednesday, June 3rd. Royal Bank of Canada upped their price target on shares of Ollie's Bargain Outlet from $101.00 to $111.00 and gave the company an "outperform" rating in a report on Tuesday. Finally, Stephens upped their price target on shares of Ollie's Bargain Outlet from $54.00 to $104.00 and gave the company an "overweight" rating in a report on Friday, May 29th. Seven research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The stock has an average rating of "Buy" and a consensus target price of $85.63.
OLLI stock opened at $95.44 on Thursday. The company has a market capitalization of $6.09 billion, a P/E ratio of 46.11, a PEG ratio of 2.30 and a beta of 1.35. The company has a 50-day simple moving average of $90.61 and a 200 day simple moving average of $64.52. Ollie's Bargain Outlet has a fifty-two week low of $28.83 and a fifty-two week high of $105.20. The company has a quick ratio of 0.68, a current ratio of 2.48 and a debt-to-equity ratio of 0.27.
Ollie's Bargain Outlet (NASDAQ:OLLI) last posted its quarterly earnings data on Thursday, May 28th. The company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.16. The business had revenue of $349.40 million during the quarter, compared to the consensus estimate of $322.90 million. Ollie's Bargain Outlet had a net margin of 9.48% and a return on equity of 12.56%. The company's quarterly revenue was up 7.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.46 earnings per share. Equities analysts anticipate that Ollie's Bargain Outlet will post 2.24 EPS for the current year.
In other news, SVP Kevin Mclain sold 23,000 shares of the company's stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $65.01, for a total value of $1,495,230.00. Following the transaction, the senior vice president now owns 26,677 shares in the company, valued at approximately $1,734,271.77. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO John W. Swygert sold 28,062 shares of the company's stock in a transaction dated Wednesday, April 29th. The shares were sold at an average price of $72.50, for a total value of $2,034,495.00. Following the completion of the transaction, the chief executive officer now owns 53,218 shares in the company, valued at approximately $3,858,305. The disclosure for this sale can be found here. 16.46% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently modified their holdings of the company. State Street Corp increased its holdings in shares of Ollie's Bargain Outlet by 2.8% in the 1st quarter. State Street Corp now owns 1,323,233 shares of the company's stock valued at $61,319,000 after purchasing an additional 35,468 shares during the period. New Mexico Educational Retirement Board increased its holdings in Ollie's Bargain Outlet by 46.1% in the first quarter. New Mexico Educational Retirement Board now owns 13,000 shares of the company's stock worth $602,000 after buying an additional 4,100 shares during the last quarter. Morgan Stanley increased its holdings in Ollie's Bargain Outlet by 87.0% in the first quarter. Morgan Stanley now owns 382,995 shares of the company's stock worth $17,748,000 after buying an additional 178,170 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in Ollie's Bargain Outlet by 2.0% in the first quarter. The Manufacturers Life Insurance Company now owns 78,541 shares of the company's stock worth $3,640,000 after buying an additional 1,572 shares during the last quarter. Finally, HighTower Advisors LLC increased its holdings in Ollie's Bargain Outlet by 153.4% in the first quarter. HighTower Advisors LLC now owns 23,755 shares of the company's stock worth $1,112,000 after buying an additional 14,379 shares during the last quarter.
About Ollie's Bargain Outlet
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.
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