Ollie's Bargain Outlet (NASDAQ:OLLI) Upgraded to Hold at StockNews.com

Ollie's Bargain Outlet (NASDAQ:OLLI - Get Free Report) was upgraded by stock analysts at StockNews.com from a "sell" rating to a "hold" rating in a research report issued on Thursday.

Several other analysts also recently weighed in on the company. Citigroup upgraded Ollie's Bargain Outlet from a "sell" rating to a "buy" rating and lifted their price objective for the company from $64.00 to $133.00 in a report on Wednesday, December 18th. Bank of America boosted their target price on shares of Ollie's Bargain Outlet from $115.00 to $130.00 and gave the stock a "buy" rating in a report on Wednesday, December 11th. Wells Fargo & Company raised their price target on shares of Ollie's Bargain Outlet from $95.00 to $105.00 and gave the company an "equal weight" rating in a report on Wednesday, December 11th. JPMorgan Chase & Co. boosted their price objective on shares of Ollie's Bargain Outlet from $105.00 to $135.00 and gave the stock an "overweight" rating in a research note on Wednesday, December 11th. Finally, Royal Bank of Canada restated an "outperform" rating and issued a $130.00 target price on shares of Ollie's Bargain Outlet in a research note on Monday, December 23rd. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, Ollie's Bargain Outlet presently has an average rating of "Moderate Buy" and an average target price of $118.62.

Ollie's Bargain Outlet Trading Up 0.6 %

Shares of NASDAQ OLLI traded up $0.69 during mid-day trading on Thursday, reaching $111.96. The company had a trading volume of 881,833 shares, compared to its average volume of 1,219,492. The stock has a market cap of $6.86 billion, a price-to-earnings ratio of 33.42, a price-to-earnings-growth ratio of 2.81 and a beta of 0.82. Ollie's Bargain Outlet has a 52 week low of $68.05 and a 52 week high of $120.03. The business's 50-day moving average is $105.76 and its 200-day moving average is $99.03.

Ollie's Bargain Outlet (NASDAQ:OLLI - Get Free Report) last posted its quarterly earnings results on Tuesday, December 10th. The company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.01. The firm had revenue of $517.43 million during the quarter, compared to the consensus estimate of $518.83 million. Ollie's Bargain Outlet had a net margin of 9.22% and a return on equity of 13.15%. The company's revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.51 earnings per share. As a group, equities research analysts forecast that Ollie's Bargain Outlet will post 3.29 earnings per share for the current year.

Insider Activity

In other news, SVP Larry Kraus sold 10,646 shares of the company's stock in a transaction on Monday, December 16th. The shares were sold at an average price of $115.58, for a total transaction of $1,230,464.68. Following the completion of the sale, the senior vice president now owns 1,905 shares of the company's stock, valued at $220,179.90. This represents a 84.82 % 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. Also, CEO John W. Swygert sold 54,318 shares of the stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $109.44, for a total transaction of $5,944,561.92. Following the completion of the sale, the chief executive officer now owns 48,200 shares of the company's stock, valued at approximately $5,275,008. The trade was a 52.98 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 87,771 shares of company stock worth $9,650,832 over the last three months. 0.87% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Ollie's Bargain Outlet

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Royce & Associates LP grew its position in Ollie's Bargain Outlet by 161.6% in the third quarter. Royce & Associates LP now owns 75,605 shares of the company's stock worth $7,349,000 after acquiring an additional 46,706 shares during the period. Oak Thistle LLC acquired a new stake in Ollie's Bargain Outlet in the 4th quarter valued at about $1,345,000. JPMorgan Chase & Co. increased its stake in shares of Ollie's Bargain Outlet by 79.6% during the third quarter. JPMorgan Chase & Co. now owns 189,301 shares of the company's stock worth $18,400,000 after buying an additional 83,882 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Ollie's Bargain Outlet by 0.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 753,658 shares of the company's stock worth $73,256,000 after purchasing an additional 5,438 shares during the last quarter. Finally, Fred Alger Management LLC increased its holdings in Ollie's Bargain Outlet by 12.1% in the third quarter. Fred Alger Management LLC now owns 772,145 shares of the company's stock valued at $75,052,000 after buying an additional 83,063 shares during the last quarter.

Ollie's Bargain Outlet Company Profile

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.