Ollie's Bargain Outlet (NASDAQ:OLLI) Price Target Raised to $121.00

Ollie's Bargain Outlet (NASDAQ:OLLI - Get Free Report) had its target price increased by stock analysts at Truist Financial from $109.00 to $121.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Truist Financial's target price points to a potential upside of 6.60% from the stock's current price.

A number of other analysts have also commented on OLLI. Bank of America upped their price objective on shares of Ollie's Bargain Outlet from $102.00 to $115.00 and gave the company a "buy" rating in a research note on Monday, September 30th. Loop Capital reaffirmed a "buy" rating and issued a $110.00 price objective on shares of Ollie's Bargain Outlet in a research note on Friday, September 20th. Royal Bank of Canada boosted their target price on shares of Ollie's Bargain Outlet from $100.00 to $106.00 and gave the company an "outperform" rating in a research note on Wednesday, October 2nd. StockNews.com downgraded Ollie's Bargain Outlet from a "hold" rating to a "sell" rating in a report on Tuesday, October 22nd. Finally, Piper Sandler increased their price objective on Ollie's Bargain Outlet from $107.00 to $126.00 and gave the stock an "overweight" rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $116.58.

Ollie's Bargain Outlet Price Performance

Shares of NASDAQ OLLI traded up $2.48 during mid-day trading on Wednesday, reaching $113.51. 1,841,266 shares of the company traded hands, 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 has a market cap of $6.96 billion, a PE ratio of 34.69, a price-to-earnings-growth ratio of 2.53 and a beta of 0.85. The stock has a fifty day simple moving average of $95.30 and a 200-day simple moving average of $94.70.

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

Insiders Place Their Bets

In other Ollie's Bargain Outlet news, CEO John W. Swygert sold 2,400 shares of the company's stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $102.54, for a total transaction of $246,096.00. Following the completion of the sale, the chief executive officer now owns 48,200 shares of the company's stock, valued at $4,942,428. This represents a 4.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Robert F. Helm sold 2,401 shares of the business's stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $94.68, for a total transaction of $227,326.68. Following the completion of the sale, the chief financial officer now owns 2,021 shares of the company's stock, valued at $191,348.28. The trade was a 54.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 36,112 shares of company stock valued at $3,614,366 over the last ninety days. Corporate insiders own 0.87% of the company's stock.

Hedge Funds Weigh In On Ollie's Bargain Outlet

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