Ollie's Bargain Outlet (NASDAQ:OLLI) Given New $128.00 Price Target at Truist Financial

Ollie's Bargain Outlet (NASDAQ:OLLI - Get Free Report) had its price objective hoisted by analysts at Truist Financial from $126.00 to $128.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Truist Financial's target price suggests a potential upside of 11.29% from the stock's current price.

A number of other brokerages also recently weighed in on OLLI. Piper Sandler reduced their price target on shares of Ollie's Bargain Outlet from $126.00 to $124.00 and set an "overweight" rating for the company in a report on Thursday, March 20th. KeyCorp reissued an "overweight" rating and issued a $135.00 price target on shares of Ollie's Bargain Outlet in a report on Wednesday. Jefferies Financial Group downgraded shares of Ollie's Bargain Outlet from a "buy" rating to a "hold" rating and reduced their price target for the company from $125.00 to $111.00 in a report on Tuesday, February 4th. JPMorgan Chase & Co. increased their price target on shares of Ollie's Bargain Outlet from $135.00 to $137.00 and gave the company an "overweight" rating in a report on Monday, May 19th. Finally, UBS Group increased their price target on shares of Ollie's Bargain Outlet from $117.00 to $123.00 and gave the company a "neutral" rating in a report on Thursday, March 20th. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $124.50.

Ollie's Bargain Outlet Price Performance

NASDAQ:OLLI traded up $0.60 during midday trading on Wednesday, reaching $115.01. The stock had a trading volume of 1,138,716 shares, compared to its average volume of 1,179,544. Ollie's Bargain Outlet has a 1-year low of $82.84 and a 1-year high of $122.15. The firm's fifty day simple moving average is $111.56 and its 200-day simple moving average is $107.96. The stock has a market capitalization of $7.06 billion, a P/E ratio of 34.33, a PEG ratio of 2.21 and a beta of 0.45.

Ollie's Bargain Outlet (NASDAQ:OLLI - Get Free Report) last posted its earnings results on Tuesday, June 3rd. The company reported $0.75 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.70 by $0.05. Ollie's Bargain Outlet had a net margin of 9.22% and a return on equity of 13.15%. The business had revenue of $576.77 million for the quarter, compared to analyst estimates of $565.04 million. During the same period last year, the business posted $0.73 EPS. Ollie's Bargain Outlet's revenue was up 13.4% compared to the same quarter last year. On average, equities research analysts anticipate that Ollie's Bargain Outlet will post 3.29 earnings per share for the current fiscal year.

Insider Activity at Ollie's Bargain Outlet

In other Ollie's Bargain Outlet news, Director Robert Fisch sold 6,250 shares of the business's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $108.08, for a total value of $675,500.00. Following the completion of the transaction, the director now directly owns 22,159 shares of the company's stock, valued at approximately $2,394,944.72. The trade was a 22.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Robert F. Helm sold 2,145 shares of the business's stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $108.50, for a total transaction of $232,732.50. Following the completion of the transaction, the chief financial officer now directly owns 3,888 shares of the company's stock, valued at approximately $421,848. This represents a 35.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 37,897 shares of company stock valued at $4,227,970 in the last ninety days. Insiders own 0.75% of the company's stock.

Hedge Funds Weigh In On Ollie's Bargain Outlet

A number of institutional investors have recently modified their holdings of the stock. Corient Private Wealth LLC raised its stake in shares of Ollie's Bargain Outlet by 86.2% during the fourth quarter. Corient Private Wealth LLC now owns 8,438 shares of the company's stock worth $926,000 after buying an additional 3,906 shares during the last quarter. Next Century Growth Investors LLC raised its stake in shares of Ollie's Bargain Outlet by 27.6% during the fourth quarter. Next Century Growth Investors LLC now owns 162,136 shares of the company's stock worth $17,791,000 after buying an additional 35,075 shares during the last quarter. Caxton Associates LP bought a new stake in shares of Ollie's Bargain Outlet during the fourth quarter worth approximately $438,000. Schonfeld Strategic Advisors LLC raised its stake in shares of Ollie's Bargain Outlet by 85.2% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 5,800 shares of the company's stock worth $636,000 after buying an additional 2,668 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Ollie's Bargain Outlet by 130.5% during the fourth quarter. JPMorgan Chase & Co. now owns 436,366 shares of the company's stock worth $47,882,000 after buying an additional 247,065 shares during the last quarter.

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.