Royal Bank of Canada Boosts Ollie’s Bargain Outlet (NASDAQ:OLLI) Price Target to $106.00

by · The Markets Daily

Ollie’s Bargain Outlet (NASDAQ:OLLI – Free Report) had its target price boosted by Royal Bank of Canada from $100.00 to $106.00 in a research report released on Wednesday morning, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

Other equities research analysts have also recently issued reports about the stock. Gordon Haskett upgraded shares of Ollie’s Bargain Outlet from an accumulate rating to a buy rating and upped their price objective for the stock from $105.00 to $107.00 in a report on Monday, August 26th. Bank of America increased their price objective on Ollie’s Bargain Outlet from $102.00 to $115.00 and gave the company a buy rating in a report on Monday, September 30th. Craig Hallum boosted their target price on Ollie’s Bargain Outlet from $100.00 to $105.00 and gave the stock a buy rating in a report on Thursday, June 6th. Morgan Stanley increased their price target on Ollie’s Bargain Outlet from $80.00 to $92.00 and gave the company an equal weight rating in a report on Thursday, June 6th. Finally, Truist Financial boosted their price objective on shares of Ollie’s Bargain Outlet from $102.00 to $109.00 and gave the stock a buy rating in a research note on Friday, July 12th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $104.92.

Read Our Latest Research Report on Ollie’s Bargain Outlet

Ollie’s Bargain Outlet Price Performance

Shares of OLLI stock opened at $97.39 on Wednesday. Ollie’s Bargain Outlet has a fifty-two week low of $68.05 and a fifty-two week high of $104.98. The stock’s 50-day moving average is $95.10 and its two-hundred day moving average is $87.73. The firm has a market cap of $5.96 billion, a P/E ratio of 30.72, a PEG ratio of 2.42 and a beta of 0.84.

Ollie’s Bargain Outlet (NASDAQ:OLLI – Get Free Report) last released its quarterly earnings data on Thursday, August 29th. The company reported $0.78 EPS for the quarter, hitting analysts’ consensus estimates of $0.78. The firm had revenue of $578.38 million for the quarter, compared to the consensus estimate of $561.60 million. Ollie’s Bargain Outlet had a return on equity of 13.27% and a net margin of 9.19%. The firm’s revenue was up 12.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.67 earnings per share. As a group, research analysts expect that Ollie’s Bargain Outlet will post 3.28 EPS for the current year.

Insider Activity

In related news, President Der Valk Eric Van sold 7,479 shares of Ollie’s Bargain Outlet stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $100.32, for a total transaction of $750,293.28. Following the sale, the president now directly owns 5,615 shares of the company’s stock, valued at $563,296.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Ollie’s Bargain Outlet news, SVP Kevin Mclain sold 15,000 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $98.99, for a total value of $1,484,850.00. Following the sale, the senior vice president now owns 10,610 shares of the company’s stock, valued at $1,050,283.90. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, President Der Valk Eric Van sold 7,479 shares of the firm’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $100.32, for a total transaction of $750,293.28. Following the transaction, the president now directly owns 5,615 shares of the company’s stock, valued at $563,296.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 24,632 shares of company stock valued at $2,459,421. Insiders own 0.87% of the company’s stock.

Institutional Trading of Ollie’s Bargain Outlet

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Sei Investments Co. boosted its holdings in Ollie’s Bargain Outlet by 15.3% during the first quarter. Sei Investments Co. now owns 207,554 shares of the company’s stock valued at $16,515,000 after purchasing an additional 27,531 shares in the last quarter. CHURCHILL MANAGEMENT Corp acquired a new stake in Ollie’s Bargain Outlet in the 1st quarter valued at $1,621,000. Axxcess Wealth Management LLC bought a new stake in Ollie’s Bargain Outlet in the first quarter valued at $841,000. Meeder Asset Management Inc. acquired a new position in Ollie’s Bargain Outlet during the first quarter worth $529,000. Finally, Wasatch Advisors LP lifted its holdings in shares of Ollie’s Bargain Outlet by 5.2% during the fourth quarter. Wasatch Advisors LP now owns 3,761,480 shares of the company’s stock valued at $285,459,000 after acquiring an additional 184,864 shares during the period.

About Ollie’s Bargain Outlet

(Get Free Report)

Ollie's Bargain Outlet Holdings, Inc operates as a retailer of brand name merchandise in the United States. The company offers housewares, bed and bath, food, floor coverings, health and beauty aids, books and stationery, toys, and electronics; and other products, including hardware, candy, clothing, sporting goods, pet and lawn, and garden products.

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