Ollie's Bargain Outlet (NASDAQ:OLLI) Raised to Buy at Citigroup

Ollie's Bargain Outlet (NASDAQ:OLLI - Get Free Report) was upgraded by research analysts at Citigroup from a "sell" rating to a "buy" rating in a report released on Wednesday, MarketBeat.com reports. The firm presently has a $133.00 price objective on the stock, up from their prior price objective of $64.00. Citigroup's target price would suggest a potential upside of 16.17% from the stock's previous close.

OLLI has been the topic of several other research reports. Royal Bank of Canada raised their price target on shares of Ollie's Bargain Outlet from $120.00 to $130.00 and gave the company an "outperform" rating in a research report on Wednesday, December 11th. Wells Fargo & Company upped their price target on Ollie's Bargain Outlet from $95.00 to $105.00 and gave the stock an "equal weight" rating in a report on Wednesday, December 11th. Truist Financial raised their price objective on Ollie's Bargain Outlet from $109.00 to $121.00 and gave the company a "buy" rating in a research note on Wednesday, December 11th. Craig Hallum upped their target price on shares of Ollie's Bargain Outlet from $107.00 to $130.00 and gave the stock a "buy" rating in a research note on Wednesday, December 11th. Finally, UBS Group raised their price target on shares of Ollie's Bargain Outlet from $97.00 to $99.00 and gave the company a "neutral" rating in a research report on Friday, August 30th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, Ollie's Bargain Outlet presently has an average rating of "Moderate Buy" and a consensus price target of $117.85.

Ollie's Bargain Outlet Price Performance

Shares of NASDAQ:OLLI traded down $0.45 during trading on Wednesday, reaching $114.49. 1,489,569 shares of the stock were exchanged, compared to its average volume of 1,055,760. Ollie's Bargain Outlet has a 1-year low of $68.05 and a 1-year high of $118.47. The stock has a fifty day moving average of $97.09 and a two-hundred day moving average of $95.87. The firm has a market cap of $7.02 billion, a price-to-earnings ratio of 34.18, a price-to-earnings-growth ratio of 2.79 and a beta of 0.85.

Ollie's Bargain Outlet (NASDAQ:OLLI - Get Free Report) last released its quarterly earnings data on Tuesday, December 10th. The company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.01. The firm had revenue of $517.43 million for 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 business's revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.51 earnings per share. Sell-side analysts forecast that Ollie's Bargain Outlet will post 3.29 EPS for the current year.

Insider Activity

In related news, CEO John W. Swygert sold 54,318 shares of Ollie's Bargain Outlet stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $109.44, for a total value 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. This trade represents a 52.98 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Larry Kraus sold 10,646 shares of the company's stock in a transaction dated 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 sale, the senior vice president now directly owns 1,905 shares in the company, valued at approximately $220,179.90. This trade represents a 84.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 97,651 shares of company stock valued at $10,628,452 in the last three months. Company insiders own 0.87% of the company's stock.

Hedge Funds Weigh In On Ollie's Bargain Outlet

Large investors have recently modified their holdings of the business. International Assets Investment Management LLC purchased a new stake in Ollie's Bargain Outlet during the 2nd quarter worth about $25,000. Crewe Advisors LLC bought a new stake in Ollie's Bargain Outlet during the second quarter valued at $36,000. GAMMA Investing LLC grew its position in Ollie's Bargain Outlet by 37.9% during the third quarter. GAMMA Investing LLC now owns 651 shares of the company's stock worth $63,000 after buying an additional 179 shares in the last quarter. Northwest & Ethical Investments L.P. bought a new position in Ollie's Bargain Outlet in the 3rd quarter worth about $117,000. Finally, LRI Investments LLC raised its holdings in shares of Ollie's Bargain Outlet by 2,356.1% in the 3rd quarter. LRI Investments LLC now owns 1,400 shares of the company's stock valued at $130,000 after acquiring an additional 1,343 shares in 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.