Ollie's Bargain Outlet (NASDAQ:OLLI) Rating Increased to Buy at Wall Street Zen

Key Points

• Ollie's Bargain Outlet was upgraded from a "hold" to a "buy" rating by Wall Street Zen, reflecting confidence in the company's stock prospects.
• The company reported earnings of $0.99 per share for the recent quarter, surpassing estimates and demonstrating a 17.5% increase in revenue compared to the previous year.
• According to analysts, Ollie's has a consensus price target of $143.46 and a consensus rating of "Moderate Buy," with eight analysts recommending a buy.

Wall Street Zen upgraded shares of Ollie's Bargain Outlet (NASDAQ:OLLI - Free Report) from a hold rating to a buy rating in a research note published on Saturday morning.

OLLI has been the topic of a number of other reports. Craig Hallum set a $156.00 target price on Ollie's Bargain Outlet in a report on Friday, August 29th. Piper Sandler lifted their target price on Ollie's Bargain Outlet from $123.00 to $150.00 and gave the stock an "overweight" rating in a report on Tuesday, August 19th. Jefferies Financial Group lifted their target price on Ollie's Bargain Outlet from $111.00 to $135.00 and gave the stock a "hold" rating in a report on Friday, August 29th. Loop Capital cut Ollie's Bargain Outlet from a "buy" rating to a "hold" rating and set a $130.00 target price on the stock. in a report on Tuesday, June 24th. Finally, Citigroup restated a "buy" rating on shares of Ollie's Bargain Outlet in a report on Friday, August 29th. Eight investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $143.46.

Ollie's Bargain Outlet Price Performance

Shares of OLLI traded down $4.37 during midday trading on Friday, reaching $127.99. The stock had a trading volume of 1,265,431 shares, compared to its average volume of 1,176,491. Ollie's Bargain Outlet has a 52 week low of $86.88 and a 52 week high of $141.74. The firm's 50 day moving average price is $132.63 and its 200-day moving average price is $118.88. The company has a market capitalization of $7.85 billion, a P/E ratio of 37.10, a P/E/G ratio of 2.73 and a beta of 0.45.

Ollie's Bargain Outlet (NASDAQ:OLLI - Get Free Report) last issued its earnings results on Thursday, August 28th. The company reported $0.99 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.91 by $0.08. The business had revenue of $679.56 million for the quarter, compared to analysts' expectations of $658.03 million. Ollie's Bargain Outlet had a return on equity of 12.66% and a net margin of 8.74%.The company's quarterly revenue was up 17.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.78 EPS. Ollie's Bargain Outlet has set its FY 2025 guidance at 3.760-3.840 EPS. On average, equities analysts forecast that Ollie's Bargain Outlet will post 3.29 earnings per share for the current year.

Insider Transactions at Ollie's Bargain Outlet

In other Ollie's Bargain Outlet news, CEO Der Valk Eric Van sold 728 shares of the business's stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $112.85, for a total value of $82,154.80. Following the completion of the sale, the chief executive officer owned 7,761 shares of the company's stock, valued at $875,828.85. The trade was a 8.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP James J. Comitale sold 2,117 shares of the business's stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $130.00, for a total value of $275,210.00. Following the completion of the sale, the senior vice president directly owned 2,504 shares of the company's stock, valued at $325,520. This represents a 45.81% decrease in their position. The disclosure for this sale can be found here. 0.87% of the stock is owned by insiders.

Institutional Trading of Ollie's Bargain Outlet

A number of institutional investors and hedge funds have recently made changes to their positions in OLLI. Invesco Ltd. lifted its position in shares of Ollie's Bargain Outlet by 55.5% in the second quarter. Invesco Ltd. now owns 2,552,605 shares of the company's stock worth $336,382,000 after buying an additional 911,364 shares during the last quarter. Hood River Capital Management LLC lifted its position in shares of Ollie's Bargain Outlet by 165.4% in the second quarter. Hood River Capital Management LLC now owns 1,240,339 shares of the company's stock worth $163,452,000 after buying an additional 773,013 shares during the last quarter. Norges Bank acquired a new stake in shares of Ollie's Bargain Outlet in the second quarter worth about $83,622,000. Wellington Management Group LLP lifted its position in shares of Ollie's Bargain Outlet by 268.0% in the first 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. Finally, Ameriprise Financial Inc. lifted its position in shares of 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 during the last quarter.

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.