Ollie's Bargain Outlet (NASDAQ:OLLI) Earns "Outperform" Rating from Royal Bank of Canada

Ollie's Bargain Outlet (NASDAQ:OLLI - Get Free Report)'s stock had its "outperform" rating reiterated by equities research analysts at Royal Bank of Canada in a research report issued on Monday,Benzinga reports. They presently have a $130.00 target price on the stock. Royal Bank of Canada's target price suggests a potential upside of 10.57% from the company's previous close.

Other equities research analysts have also issued reports about the company. Gordon Haskett upgraded Ollie's Bargain Outlet from an "accumulate" rating to a "buy" rating and upped their price target for the company from $105.00 to $107.00 in a research report on Monday, August 26th. Citigroup raised Ollie's Bargain Outlet from a "sell" rating to a "buy" rating and raised their target price for the stock from $64.00 to $133.00 in a research note on Wednesday, December 18th. Craig Hallum boosted their price target on shares of Ollie's Bargain Outlet from $107.00 to $130.00 and gave the company a "buy" rating in a research report on Wednesday, December 11th. Bank of America raised their price objective on shares of Ollie's Bargain Outlet from $115.00 to $130.00 and gave the stock a "buy" rating in a research report on Wednesday, December 11th. Finally, Truist Financial boosted their target price on shares of Ollie's Bargain Outlet from $109.00 to $121.00 and gave the company a "buy" rating in a report on Wednesday, December 11th. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $118.62.

Ollie's Bargain Outlet Price Performance

NASDAQ OLLI traded down $0.34 during mid-day trading on Monday, hitting $117.57. The stock had a trading volume of 654,191 shares, compared to its average volume of 1,059,668. Ollie's Bargain Outlet has a twelve month low of $68.05 and a twelve month high of $120.03. The firm's 50 day moving average is $98.38 and its 200 day moving average is $96.54. The stock has a market capitalization of $7.20 billion, a price-to-earnings ratio of 35.10, a PEG ratio of 2.79 and a beta of 0.85.

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, topping the consensus estimate of $0.57 by $0.01. Ollie's Bargain Outlet had a net margin of 9.22% and a return on equity of 13.15%. The firm had revenue of $517.43 million for the quarter, compared to the consensus estimate of $518.83 million. During the same period last year, the firm posted $0.51 earnings per share. The company's revenue for the quarter was up 7.8% on a year-over-year basis. As a group, equities research analysts expect that Ollie's Bargain Outlet will post 3.29 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Thomas Hendrickson sold 6,250 shares of the company's stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $114.74, for a total transaction of $717,125.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Larry Kraus sold 10,646 shares of Ollie's Bargain Outlet stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $115.58, for a total transaction of $1,230,464.68. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 90,172 shares of company stock worth $9,878,158 in the last ninety days. 0.87% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Ollie's Bargain Outlet

A number of hedge funds and other institutional investors have recently modified their holdings of OLLI. Sanctuary Advisors LLC boosted its position in shares of Ollie's Bargain Outlet by 464.8% during the 3rd quarter. Sanctuary Advisors LLC now owns 17,135 shares of the company's stock worth $1,621,000 after acquiring an additional 14,101 shares in the last quarter. Virtu Financial LLC purchased a new stake in Ollie's Bargain Outlet during the third quarter worth approximately $969,000. Geode Capital Management LLC boosted its holdings in Ollie's Bargain Outlet by 0.9% in the third quarter. Geode Capital Management LLC now owns 1,078,544 shares of the company's stock valued at $104,860,000 after purchasing an additional 9,492 shares in the last quarter. Bullseye Asset Management LLC raised its holdings in Ollie's Bargain Outlet by 1.8% during the third quarter. Bullseye Asset Management LLC now owns 55,274 shares of the company's stock worth $5,373,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Barclays PLC lifted its position in shares of Ollie's Bargain Outlet by 59.2% during the 3rd quarter. Barclays PLC now owns 41,307 shares of the company's stock worth $4,014,000 after buying an additional 15,357 shares during the last quarter.

About Ollie's Bargain Outlet

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.