Ollie's Bargain Outlet (NASDAQ:OLLI) Given New $159.00 Price Target at JPMorgan Chase & Co.

Ollie's Bargain Outlet (NASDAQ:OLLI - Get Free Report) had its price objective hoisted by equities researchers at JPMorgan Chase & Co. from $137.00 to $159.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price objective would indicate a potential upside of 20.31% from the stock's previous close.

Several other research analysts also recently weighed in on OLLI. Piper Sandler reiterated an "overweight" rating and set a $123.00 price target (down previously from $124.00) on shares of Ollie's Bargain Outlet in a research note on Wednesday, June 4th. KeyCorp set a $145.00 target price on Ollie's Bargain Outlet and gave the stock an "overweight" rating in a research note on Thursday, June 26th. Loop Capital downgraded Ollie's Bargain Outlet from a "buy" rating to a "hold" rating and set a $130.00 target price for the company. in a research note on Tuesday, June 24th. Wall Street Zen upgraded Ollie's Bargain Outlet from a "sell" rating to a "hold" rating in a research note on Tuesday, May 13th. Finally, Truist Financial raised their target price on Ollie's Bargain Outlet from $126.00 to $128.00 and gave the stock a "buy" rating in a research note on Wednesday, June 4th. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Ollie's Bargain Outlet has a consensus rating of "Moderate Buy" and a consensus price target of $126.79.

Ollie's Bargain Outlet Price Performance

Shares of NASDAQ:OLLI opened at $132.16 on Monday. The company has a market capitalization of $8.11 billion, a PE ratio of 40.66, a price-to-earnings-growth ratio of 2.97 and a beta of 0.41. The business has a fifty day moving average price of $121.04 and a two-hundred day moving average price of $112.03. Ollie's Bargain Outlet has a 1 year low of $86.05 and a 1 year high of $134.59.

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

Insider Transactions at Ollie's Bargain Outlet

In related news, CEO Der Valk Eric Van sold 728 shares of the firm's stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $112.85, for a total transaction of $82,154.80. Following the transaction, the chief executive officer directly owned 7,761 shares in the company, valued at $875,828.85. This trade represents a 8.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.87% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Ollie's Bargain Outlet

Several institutional investors and hedge funds have recently bought and sold shares of OLLI. Kayne Anderson Rudnick Investment Management LLC grew its position in Ollie's Bargain Outlet by 173.8% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,644,774 shares of the company's stock worth $509,671,000 after acquiring an additional 2,948,393 shares during the last quarter. Norges Bank bought a new stake in shares of Ollie's Bargain Outlet in the 4th quarter worth approximately $80,741,000. Wellington Management Group LLP grew its position in shares of Ollie's Bargain Outlet by 268.0% in the 1st quarter. Wellington Management Group LLP now owns 844,799 shares of the company's stock worth $98,301,000 after buying an additional 615,257 shares during the last quarter. Ameriprise Financial Inc. grew its position in shares of Ollie's Bargain Outlet by 130.3% in the 1st quarter. Ameriprise Financial Inc. now owns 828,743 shares of the company's stock worth $96,428,000 after buying an additional 468,944 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of Ollie's Bargain Outlet in the 4th quarter worth approximately $48,633,000.

Ollie's Bargain Outlet Company Profile

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.

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