Piper Sandler Reiterates Overweight Rating for Ollie's Bargain Outlet (NASDAQ:OLLI)

Ollie's Bargain Outlet (NASDAQ:OLLI - Get Free Report)'s stock had its "overweight" rating reaffirmed by equities researchers at Piper Sandler in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $123.00 price target on the stock, down from their prior price target of $124.00. Piper Sandler's target price would indicate a potential upside of 6.95% from the stock's previous close.

Other analysts also recently issued reports about the company. KeyCorp reiterated an "overweight" rating and set a $135.00 target price on shares of Ollie's Bargain Outlet in a research report on Wednesday. Truist Financial upped their price objective on Ollie's Bargain Outlet from $126.00 to $128.00 and gave the stock a "buy" rating in a research report on Wednesday. UBS Group upped their price objective on Ollie's Bargain Outlet from $117.00 to $123.00 and gave the stock a "neutral" rating in a research report on Thursday, March 20th. JPMorgan Chase & Co. upped their price objective on Ollie's Bargain Outlet from $135.00 to $137.00 and gave the stock an "overweight" rating in a research report on Monday, May 19th. Finally, Morgan Stanley upped their price objective on Ollie's Bargain Outlet from $108.00 to $118.00 and gave the stock an "equal weight" rating in a research report on Thursday, March 20th. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, Ollie's Bargain Outlet currently has a consensus rating of "Moderate Buy" and an average target price of $124.50.

Ollie's Bargain Outlet Stock Up 0.5%

Shares of NASDAQ:OLLI traded up $0.60 during trading on Wednesday, reaching $115.01. 1,138,716 shares of the company traded hands, compared to its average volume of 1,179,544. The company's 50 day moving average is $111.56 and its two-hundred day moving average is $107.96. The firm has a market capitalization of $7.06 billion, a PE ratio of 34.33, a PEG ratio of 2.21 and a beta of 0.45. Ollie's Bargain Outlet has a 52 week low of $82.84 and a 52 week high of $122.15.

Ollie's Bargain Outlet (NASDAQ:OLLI - Get Free Report) last released its earnings results on Tuesday, June 3rd. The company reported $0.75 earnings per share for the quarter, beating analysts' consensus estimates of $0.70 by $0.05. The firm 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 13.15% and a net margin of 9.22%. The company's revenue was up 13.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.73 EPS. As a group, research analysts anticipate that Ollie's Bargain Outlet will post 3.29 EPS for the current year.

Insider Activity

In related news, CFO Robert F. Helm sold 312 shares of the business's stock in a transaction on Monday, April 7th. The shares were sold at an average price of $107.17, for a total value of $33,437.04. Following the transaction, the chief financial officer now owns 3,273 shares in the company, valued at $350,767.41. The trade was a 8.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Der Valk Eric Van sold 1,153 shares of the company's stock in a transaction on Monday, March 31st. The shares were sold at an average price of $110.85, for a total transaction of $127,810.05. Following the sale, the chief executive officer now directly owns 6,768 shares in the company, valued at $750,232.80. This trade represents a 14.56% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 37,897 shares of company stock valued at $4,227,970. Company insiders own 0.75% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Barclays PLC grew its stake in Ollie's Bargain Outlet by 59.2% during the third quarter. Barclays PLC now owns 41,307 shares of the company's stock worth $4,014,000 after purchasing an additional 15,357 shares during the period. Blue Trust Inc. lifted its stake in Ollie's Bargain Outlet by 55.2% in the fourth quarter. Blue Trust Inc. now owns 284 shares of the company's stock valued at $31,000 after buying an additional 101 shares during the period. DAVENPORT & Co LLC bought a new position in shares of Ollie's Bargain Outlet during the 4th quarter worth approximately $225,000. Retirement Systems of Alabama grew its position in shares of Ollie's Bargain Outlet by 0.3% during the 4th quarter. Retirement Systems of Alabama now owns 74,594 shares of the company's stock worth $8,185,000 after buying an additional 243 shares during the period. Finally, Bleakley Financial Group LLC acquired a new position in shares of Ollie's Bargain Outlet during the 4th quarter valued at $228,000.

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.