Ollie’s Bargain Outlet (NASDAQ:OLLI) Hits New 52-Week High Following Analyst Upgrade

Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) hit a new 52-week high during mid-day trading on Monday after JPMorgan Chase & Co. raised their price target on the stock from $135.00 to $137.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Ollie’s Bargain Outlet traded as high as $120.10 and last traded at $118.97, with a volume of 190833 shares. The stock had previously closed at $118.86.

Other equities research analysts have also issued research reports about the company. Jefferies Financial Group lowered Ollie’s Bargain Outlet from a “buy” rating to a “hold” rating and reduced their target price for the company from $125.00 to $111.00 in a research note on Tuesday, February 4th. Piper Sandler reduced their target price on 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. UBS Group upped their target price on Ollie’s Bargain Outlet from $117.00 to $123.00 and gave the company a “neutral” rating in a research note on Thursday, March 20th. StockNews.com raised Ollie’s Bargain Outlet from a “sell” rating to a “hold” rating in a research note on Tuesday, May 13th. Finally, Morgan Stanley upped their target price on Ollie’s Bargain Outlet from $108.00 to $118.00 and gave the company an “equal weight” rating in a research note on Thursday, March 20th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $123.23.

Insider Activity at Ollie’s Bargain Outlet

In other news, CEO Der Valk Eric Van sold 1,153 shares of the stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $110.85, for a total transaction of $127,810.05. Following the transaction, the chief executive officer now owns 6,768 shares of the company’s stock, valued at approximately $750,232.80. This trade represents a 14.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Robert F. Helm sold 2,145 shares of the firm’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 in the company, valued at $421,848. This represents a 35.55% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 37,897 shares of company stock worth $4,227,970. Corporate insiders own 0.75% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Ollie’s Bargain Outlet by 12.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 183,412 shares of the company’s stock valued at $21,342,000 after acquiring an additional 19,837 shares during the period. Empowered Funds LLC acquired a new position in Ollie’s Bargain Outlet in the first quarter worth approximately $359,000. Axiom Investors LLC DE acquired a new position in Ollie’s Bargain Outlet in the first quarter worth approximately $4,749,000. United Services Automobile Association acquired a new position in Ollie’s Bargain Outlet in the first quarter worth approximately $461,000. Finally, Redwood Investments LLC grew its position in Ollie’s Bargain Outlet by 50.0% in the first quarter. Redwood Investments LLC now owns 27,099 shares of the company’s stock worth $3,153,000 after buying an additional 9,027 shares during the last quarter.

Ollie’s Bargain Outlet Stock Performance

The business’s 50 day moving average is $109.61 and its 200 day moving average is $106.28. The stock has a market cap of $7.38 billion, a price-to-earnings ratio of 35.87, a price-to-earnings-growth ratio of 2.21 and a beta of 0.45.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last released its quarterly earnings results on Wednesday, March 19th. The company reported $1.19 earnings per share for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.01). The business had revenue of $667.10 million for the quarter, compared to the consensus estimate of $674.61 million. Ollie’s Bargain Outlet had a net margin of 9.22% and a return on equity of 13.15%. The firm’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.23 EPS. Research analysts expect that Ollie’s Bargain Outlet Holdings, Inc. will post 3.29 earnings per share for the current year.

About Ollie’s Bargain Outlet

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.