Ollie’s Bargain Outlet (NASDAQ:OLLI) Downgraded by BidaskClub to “Sell”

Ollie’s Bargain Outlet (NASDAQ:OLLI) was downgraded by stock analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Thursday, BidAskClub reports.

OLLI has been the subject of a number of other research reports. Credit Suisse Group reissued an “outperform” rating and issued a $78.00 target price (down previously from $103.00) on shares of Ollie’s Bargain Outlet in a report on Thursday, August 29th. Bank of America reduced their target price on Ollie’s Bargain Outlet from $110.00 to $75.00 and set a “buy” rating for the company in a report on Thursday, August 29th. Wells Fargo & Co reissued a “market perform” rating and issued a $60.00 target price (down previously from $85.00) on shares of Ollie’s Bargain Outlet in a report on Thursday, August 29th. Royal Bank of Canada raised Ollie’s Bargain Outlet from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from $65.00 to $67.00 in a report on Tuesday, October 15th. Finally, Piper Jaffray Companies set a $70.00 target price on Ollie’s Bargain Outlet and gave the stock a “buy” rating in a report on Tuesday, September 24th. One analyst has rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company’s stock. Ollie’s Bargain Outlet currently has a consensus rating of “Buy” and an average price target of $80.00.

Ollie’s Bargain Outlet stock opened at $60.56 on Thursday. The firm has a market cap of $3.61 billion, a price-to-earnings ratio of 33.09, a PEG ratio of 1.55 and a beta of 0.87. The stock has a fifty day simple moving average of $64.07 and a two-hundred day simple moving average of $75.53. Ollie’s Bargain Outlet has a 12 month low of $53.60 and a 12 month high of $103.03. The company has a current ratio of 2.13, a quick ratio of 0.41 and a debt-to-equity ratio of 0.26.

In related news, SVP Kevin Mclain sold 5,750 shares of Ollie’s Bargain Outlet stock in a transaction on Monday, November 11th. The stock was sold at an average price of $65.39, for a total value of $375,992.50. Following the completion of the sale, the senior vice president now owns 5,750 shares of the company’s stock, valued at $375,992.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Stanley Fleishman acquired 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The stock was purchased at an average cost of $64.66 per share, with a total value of $129,320.00. Following the acquisition, the director now directly owns 43,974 shares of the company’s stock, valued at $2,843,358.84. The disclosure for this purchase can be found here. Insiders sold 29,270 shares of company stock valued at $1,892,131 in the last ninety days. 16.36% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. Swiss National Bank grew its holdings in shares of Ollie’s Bargain Outlet by 8.4% in the second quarter. Swiss National Bank now owns 105,300 shares of the company’s stock worth $9,173,000 after acquiring an additional 8,200 shares during the period. Marshall Wace LLP lifted its position in Ollie’s Bargain Outlet by 33.8% during the second quarter. Marshall Wace LLP now owns 763,500 shares of the company’s stock valued at $66,509,000 after purchasing an additional 192,961 shares in the last quarter. AXA lifted its position in Ollie’s Bargain Outlet by 42.7% during the second quarter. AXA now owns 60,166 shares of the company’s stock valued at $5,241,000 after purchasing an additional 18,011 shares in the last quarter. M&T Bank Corp lifted its position in Ollie’s Bargain Outlet by 4.6% during the second quarter. M&T Bank Corp now owns 12,996 shares of the company’s stock valued at $1,133,000 after purchasing an additional 573 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its position in Ollie’s Bargain Outlet by 6.0% during the second quarter. Oppenheimer Asset Management Inc. now owns 15,798 shares of the company’s stock valued at $1,376,000 after purchasing an additional 894 shares in the last quarter. 96.06% of the stock is owned by institutional investors.

About Ollie’s Bargain Outlet

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

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Analyst Recommendations for Ollie`s Bargain Outlet (NASDAQ:OLLI)

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