Ollie's Bargain Outlet (NASDAQ:OLLI) Lifted to Buy at Truist Financial

Truist Financial upgraded shares of Ollie's Bargain Outlet (NASDAQ:OLLI - Free Report) from a hold rating to a buy rating in a research note released on Friday morning, MarketBeat.com reports. Truist Financial currently has $86.00 price objective on the stock, up from their prior price objective of $80.00.

Several other brokerages have also recently issued reports on OLLI. JPMorgan Chase & Co. lowered their price target on Ollie's Bargain Outlet from $88.00 to $85.00 and set a neutral rating on the stock in a research report on Thursday, March 21st. Loop Capital raised Ollie's Bargain Outlet from a hold rating to a buy rating and lifted their price objective for the company from $80.00 to $90.00 in a research report on Friday, April 5th. The Goldman Sachs Group raised their target price on Ollie's Bargain Outlet from $91.00 to $104.00 and gave the company a buy rating in a report on Thursday, March 21st. Craig Hallum raised their target price on Ollie's Bargain Outlet from $98.00 to $100.00 and gave the company a buy rating in a report on Thursday, March 21st. Finally, Royal Bank of Canada reiterated 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. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $85.42.

Ollie's Bargain Outlet Trading Up 2.9 %

Shares of NASDAQ OLLI traded up $2.18 during trading on Friday, reaching $76.80. The company had a trading volume of 743,830 shares, compared to its average volume of 909,067. Ollie's Bargain Outlet has a twelve month low of $52.93 and a twelve month high of $84.38. The stock has a market capitalization of $4.71 billion, a PE ratio of 26.30 and a beta of 0.76. The stock has a 50-day moving average price of $75.20 and a two-hundred day moving average price of $75.08.

Ollie's Bargain Outlet (NASDAQ:OLLI - Get Free Report) last issued its earnings results on Wednesday, March 20th. The company reported $1.23 earnings per share for the quarter, topping 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 company had revenue of $648.90 million during the quarter, compared to the consensus estimate of $649.39 million. During the same quarter in the prior year, the business earned $0.84 earnings per share. The company's revenue was up 18.0% compared to the same quarter last year. On average, sell-side analysts predict that Ollie's Bargain Outlet will post 3.19 EPS for the current year.

Insider Buying and Selling at Ollie's Bargain Outlet

In other Ollie's Bargain Outlet news, CEO John W. Swygert sold 11,756 shares of Ollie's Bargain Outlet stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $75.22, for a total transaction of $884,286.32. Following the sale, the chief executive officer now directly owns 48,200 shares of the company's stock, valued at $3,625,604. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO John W. Swygert sold 11,756 shares of the business'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 transaction, the chief executive officer now owns 48,200 shares in the company, valued at approximately $3,625,604. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Larry Kraus sold 2,928 shares of the business's stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $79.00, for a total transaction of $231,312.00. Following the completion of the transaction, the vice president now owns 1,905 shares of the company's stock, valued at approximately $150,495. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 27,171 shares of company stock valued at $2,084,338. 0.86% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Treasurer of the State of North Carolina raised its position in Ollie's Bargain Outlet by 0.5% in the 3rd quarter. Treasurer of the State of North Carolina now owns 27,065 shares of the company's stock worth $2,089,000 after purchasing an additional 140 shares during the last quarter. Alliance Wealth Advisors LLC UT boosted its stake in Ollie's Bargain Outlet by 3.4% in the 4th quarter. Alliance Wealth Advisors LLC UT now owns 4,410 shares of the company's stock worth $335,000 after purchasing an additional 144 shares during the period. Precision Wealth Strategies LLC boosted its stake in Ollie's Bargain Outlet by 3.0% in the 3rd quarter. Precision Wealth Strategies LLC now owns 5,179 shares of the company's stock worth $400,000 after purchasing an additional 149 shares during the period. Teacher Retirement System of Texas boosted its stake in Ollie's Bargain Outlet by 0.7% in the 3rd quarter. Teacher Retirement System of Texas now owns 22,294 shares of the company's stock worth $1,721,000 after purchasing an additional 151 shares during the period. Finally, Diversified Trust Co boosted its stake in Ollie's Bargain Outlet by 4.8% in the 4th quarter. Diversified Trust Co now owns 3,636 shares of the company's stock worth $276,000 after purchasing an additional 168 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.