Ollie's Bargain Outlet (NASDAQ:OLLI) Sets New 1-Year High Following Analyst Upgrade

Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI - Get Free Report) hit a new 52-week high during mid-day trading on Monday after JPMorgan Chase & Co. raised their price target on the stock from $137.00 to $159.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Ollie's Bargain Outlet traded as high as $135.91 and last traded at $134.89, with a volume of 861337 shares trading hands. The stock had previously closed at $132.16.

Several other equities research analysts also recently weighed in on the company. Royal Bank Of Canada reissued an "outperform" rating and issued a $133.00 price objective on shares of Ollie's Bargain Outlet in a report on Wednesday, June 4th. Loop Capital lowered Ollie's Bargain Outlet from a "buy" rating to a "hold" rating and set a $130.00 price target on the stock. in a research report on Tuesday, June 24th. KeyCorp set a $145.00 target price on Ollie's Bargain Outlet and gave the company an "overweight" rating in a research report on Thursday, June 26th. 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, Piper Sandler reaffirmed an "overweight" rating and set a $123.00 target price (down previously from $124.00) on shares of Ollie's Bargain Outlet in a research note on Wednesday, June 4th. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $126.79.

Insiders Place Their Bets

In other news, CEO Der Valk Eric Van sold 728 shares of the firm's stock in a transaction 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 completion of 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.87% of the company's stock.

Institutional Trading of Ollie's Bargain Outlet

Hedge funds and other institutional investors have recently made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Ollie's Bargain Outlet by 489.7% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 230 shares of the company's stock valued at $25,000 after purchasing an additional 191 shares in the last quarter. HM Payson & Co. purchased a new stake in Ollie's Bargain Outlet in the 1st quarter valued at approximately $30,000. City Holding Co. purchased a new stake in Ollie's Bargain Outlet in the 1st quarter valued at approximately $31,000. Maseco LLP purchased a new stake in Ollie's Bargain Outlet in the 2nd quarter valued at approximately $36,000. Finally, Brown Brothers Harriman & Co. purchased a new stake in Ollie's Bargain Outlet in the 4th quarter valued at approximately $33,000.

Ollie's Bargain Outlet Trading Up 2.1%

The company has a 50 day moving average price of $121.04 and a 200 day moving average price of $112.03. The firm has a market cap of $8.27 billion, a PE ratio of 41.50, a price-to-earnings-growth ratio of 2.97 and a beta of 0.41.

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

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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