Ollie's Bargain Outlet (NASDAQ:OLLI) Receives New Coverage from Analysts at Bank of America

Equities researchers at Bank of America assumed coverage on shares of Ollie's Bargain Outlet (NASDAQ:OLLI - Get Free Report) in a research report issued on Monday, StockNewsAPI reports. The brokerage set a "buy" rating and a $92.00 price target on the stock. Bank of America's price objective would indicate a potential upside of 16.93% from the stock's previous close.

OLLI has been the subject of a number of other research reports. Loop Capital upgraded Ollie's Bargain Outlet from a "hold" rating to a "buy" rating and increased their price target for the company from $80.00 to $90.00 in a research report on Friday, April 5th. Truist Financial upgraded Ollie's Bargain Outlet from a "hold" rating to a "buy" rating and increased their price target for the company from $80.00 to $86.00 in a research report on Friday. The Goldman Sachs Group increased their price target on Ollie's Bargain Outlet from $91.00 to $104.00 and gave the company a "buy" rating in a research report on Thursday, March 21st. Royal Bank of Canada reissued an "outperform" rating and issued a $86.00 price objective on shares of Ollie's Bargain Outlet in a research note on Thursday, March 21st. Finally, Craig Hallum increased their price objective on Ollie's Bargain Outlet from $98.00 to $100.00 and gave the stock a "buy" rating in a research note on Thursday, March 21st. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $87.08.

Ollie's Bargain Outlet Stock Performance

Shares of NASDAQ:OLLI traded up $1.88 on Monday, hitting $78.68. The company's stock had a trading volume of 1,186,109 shares, compared to its average volume of 912,375. Ollie's Bargain Outlet has a 12 month low of $52.93 and a 12 month high of $84.38. The company has a market capitalization of $4.82 billion, a price-to-earnings ratio of 27.18 and a beta of 0.76. The stock's 50-day moving average is $75.08 and its two-hundred day moving average is $75.15.

Ollie's Bargain Outlet (NASDAQ:OLLI - Get Free Report) last announced its earnings results on Wednesday, March 20th. The company reported $1.23 earnings per share for the quarter, beating 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 analysts' expectations of $649.39 million. During the same quarter 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. Equities analysts expect that Ollie's Bargain Outlet will post 3.19 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO John W. Swygert sold 5,000 shares of the stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $82.57, for a total transaction of $412,850.00. Following the transaction, the chief executive officer now owns 48,200 shares of the company's stock, valued at approximately $3,979,874. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Ollie's Bargain Outlet news, CEO John W. Swygert sold 5,000 shares of the firm's stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $82.57, for a total value of $412,850.00. Following the sale, the chief executive officer now owns 48,200 shares of the company's stock, valued at approximately $3,979,874. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO John W. Swygert sold 11,756 shares of the firm's stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $75.22, for a total value of $884,286.32. Following the completion of the sale, the chief executive officer now directly owns 48,200 shares in the company, valued at approximately $3,625,604. The disclosure for this sale can be found here. In the last quarter, insiders have sold 27,171 shares of company stock valued at $2,084,338. Insiders own 0.87% of the company's stock.

Institutional Trading of Ollie's Bargain Outlet

Several institutional investors have recently modified their holdings of the company. ORG Partners LLC acquired a new stake in shares of Ollie's Bargain Outlet during the 1st quarter worth approximately $28,000. Duality Advisers LP bought a new position in shares of Ollie's Bargain Outlet during the 1st quarter worth approximately $303,000. Texas Permanent School Fund Corp lifted its position in shares of Ollie's Bargain Outlet by 1.1% during the 1st quarter. Texas Permanent School Fund Corp now owns 53,905 shares of the company's stock worth $4,289,000 after buying an additional 602 shares during the period. GSA Capital Partners LLP lifted its position in shares of Ollie's Bargain Outlet by 348.5% during the 1st quarter. GSA Capital Partners LLP now owns 33,247 shares of the company's stock worth $2,645,000 after buying an additional 25,834 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. lifted its position in shares of Ollie's Bargain Outlet by 5.2% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 72,345 shares of the company's stock worth $5,756,000 after buying an additional 3,604 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.