Piper Sandler Forecasts Strong Price Appreciation for Ollie's Bargain Outlet (NASDAQ:OLLI) Stock

Ollie's Bargain Outlet (NASDAQ:OLLI - Get Free Report) had its target price upped by Piper Sandler from $107.00 to $126.00 in a report released on Wednesday,Benzinga reports. The firm presently has an "overweight" rating on the stock. Piper Sandler's price target indicates a potential upside of 11.01% from the stock's current price.

Several other research firms have also weighed in on OLLI. Bank of America increased their price objective on shares of Ollie's Bargain Outlet from $102.00 to $115.00 and gave the stock a "buy" rating in a research note on Monday, September 30th. Loop Capital restated a "buy" rating and set a $110.00 price objective on shares of Ollie's Bargain Outlet in a research report on Friday, September 20th. StockNews.com lowered Ollie's Bargain Outlet from a "hold" rating to a "sell" rating in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. reduced their price target on shares of Ollie's Bargain Outlet from $113.00 to $105.00 and set an "overweight" rating for the company in a report on Friday, August 30th. Finally, Wells Fargo & Company cut shares of Ollie's Bargain Outlet from an "overweight" rating to an "equal weight" rating and dropped their price objective for the stock from $100.00 to $95.00 in a report on Tuesday, December 3rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat, Ollie's Bargain Outlet currently has a consensus rating of "Moderate Buy" and a consensus price target of $116.58.

Ollie's Bargain Outlet Stock Performance

Shares of Ollie's Bargain Outlet stock traded up $2.48 during trading on Wednesday, reaching $113.50. The company had a trading volume of 1,840,695 shares, compared to its average volume of 1,048,677. Ollie's Bargain Outlet has a fifty-two week low of $68.05 and a fifty-two week high of $115.98. The firm's fifty day moving average is $95.30 and its 200-day moving average is $94.70. The company has a market cap of $6.96 billion, a price-to-earnings ratio of 34.69, a price-to-earnings-growth ratio of 2.53 and a beta of 0.85.

Ollie's Bargain Outlet (NASDAQ:OLLI - Get Free Report) last issued its earnings results on Tuesday, December 10th. The company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.57 by $0.01. Ollie's Bargain Outlet had a return on equity of 13.27% and a net margin of 9.19%. The company had revenue of $517.43 million during the quarter, compared to analyst estimates of $518.83 million. During the same quarter last year, the firm earned $0.51 EPS. The business's revenue was up 7.8% on a year-over-year basis. On average, research analysts anticipate that Ollie's Bargain Outlet will post 3.27 EPS for the current fiscal year.

Insider Buying and Selling at Ollie's Bargain Outlet

In other Ollie's Bargain Outlet news, CEO John W. Swygert sold 2,400 shares of Ollie's Bargain Outlet stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $102.54, for a total value of $246,096.00. Following the transaction, the chief executive officer now owns 48,200 shares in the company, valued at approximately $4,942,428. The trade was a 4.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Kevin Mclain sold 15,000 shares of the stock in a transaction on Monday, September 16th. The shares were sold at an average price of $98.99, for a total value of $1,484,850.00. Following the sale, the senior vice president now owns 10,610 shares of the company's stock, valued at $1,050,283.90. This trade represents a 58.57 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 36,112 shares of company stock valued at $3,614,366. 0.87% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Ollie's Bargain Outlet

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