Ollie’s Bargain Outlet’s (OLLI) Outperform Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reaffirmed their outperform rating on shares of Ollie’s Bargain Outlet (NASDAQ:OLLI) in a report issued on Wednesday,Benzinga reports. Royal Bank of Canada currently has a $133.00 price objective on the stock.

A number of other brokerages have also recently commented on OLLI. Wall Street Zen upgraded shares of Ollie’s Bargain Outlet from a “sell” rating to a “hold” rating in a research note on Tuesday, May 13th. UBS Group increased their price objective on Ollie’s Bargain Outlet from $117.00 to $123.00 and gave the stock a “neutral” rating in a research note on Thursday, March 20th. Piper Sandler reduced their target price on shares of Ollie’s Bargain Outlet from $126.00 to $124.00 and set an “overweight” rating on the stock in a research note on Thursday, March 20th. Jefferies Financial Group cut shares of Ollie’s Bargain Outlet from a “buy” rating to a “hold” rating and dropped their target price for the stock from $125.00 to $111.00 in a research report on Tuesday, February 4th. Finally, Morgan Stanley boosted their price target on shares of Ollie’s Bargain Outlet from $108.00 to $118.00 and gave the company 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 company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $124.50.

Ollie’s Bargain Outlet Stock Up 3.8%

Ollie’s Bargain Outlet stock opened at $119.37 on Wednesday. Ollie’s Bargain Outlet has a 12 month low of $82.84 and a 12 month high of $122.15. The stock has a market cap of $7.32 billion, a P/E ratio of 35.63, a P/E/G ratio of 2.21 and a beta of 0.37. The company’s fifty day simple moving average is $111.66 and its 200-day simple moving average is $108.17.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last announced its quarterly earnings results on Tuesday, June 3rd. The company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.70 by $0.05. The company had revenue of $576.77 million for the quarter, compared to analyst estimates of $565.04 million. Ollie’s Bargain Outlet had a net margin of 9.22% and a return on equity of 13.15%. Ollie’s Bargain Outlet’s quarterly revenue was up 13.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.73 EPS. On average, equities research analysts expect 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, Chairman John W. Swygert sold 6,526 shares of the company’s stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $107.87, for a total transaction of $703,959.62. Following the transaction, the chairman now directly owns 53,432 shares in the company, valued at approximately $5,763,709.84. This represents a 10.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Der Valk Eric Van sold 1,153 shares of Ollie’s Bargain Outlet stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $110.85, for a total transaction of $127,810.05. Following the sale, the chief executive officer now owns 6,768 shares of the company’s stock, valued at approximately $750,232.80. This represents a 14.56% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 37,897 shares of company stock valued at $4,227,970 over the last quarter. Corporate insiders own 0.75% of the company’s stock.

Hedge Funds Weigh In On Ollie’s Bargain Outlet

Several large investors have recently bought and sold shares of OLLI. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Ollie’s Bargain Outlet by 489.7% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 230 shares of the company’s stock worth $25,000 after acquiring an additional 191 shares during the period. Wilmington Savings Fund Society FSB boosted its position in shares of Ollie’s Bargain Outlet by 337.0% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 236 shares of the company’s stock worth $26,000 after purchasing an additional 182 shares during the last quarter. Bogart Wealth LLC acquired a new stake in shares of Ollie’s Bargain Outlet during the fourth quarter worth $26,000. HM Payson & Co. acquired a new stake in shares of Ollie’s Bargain Outlet during the first quarter worth $30,000. Finally, City Holding Co. bought a new stake in Ollie’s Bargain Outlet in the first quarter valued at about $31,000.

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.