Ollie's Bargain Outlet (NASDAQ:OLLI) was downgraded by equities researchers at BidaskClub from a “strong-buy” rating to a “buy” rating in a note issued to investors on Friday, January 5th.
Several other analysts have also commented on the company. Wells Fargo & Co initiated coverage on Ollie's Bargain Outlet in a report on Friday, November 3rd. They issued a “market perform” rating and a $45.00 price objective on the stock. Morgan Stanley assumed coverage on Ollie's Bargain Outlet in a research note on Monday, September 25th. They issued an “equal weight” rating and a $46.00 price target on the stock. Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $61.00 price target on shares of Ollie's Bargain Outlet in a research note on Thursday, December 7th. Jefferies Group boosted their price objective on Ollie's Bargain Outlet to $57.00 and gave the stock a “buy” rating in a research note on Tuesday, December 5th. Finally, Zacks Investment Research upgraded Ollie's Bargain Outlet from a “hold” rating to a “buy” rating and set a $51.00 target price on the stock in a research report on Tuesday, September 19th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the company. Ollie's Bargain Outlet currently has an average rating of “Buy” and a consensus target price of $51.54.
Shares of Ollie's Bargain Outlet (NASDAQ OLLI) traded up $1.50 during trading hours on Friday, hitting $55.50. The stock had a trading volume of 695,481 shares, compared to its average volume of 585,593. Ollie's Bargain Outlet has a 1 year low of $28.90 and a 1 year high of $56.65. The stock has a market capitalization of $3,329.48, a PE ratio of 47.79, a price-to-earnings-growth ratio of 1.86 and a beta of 0.18. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.36 and a current ratio of 2.53.
Ollie's Bargain Outlet (NASDAQ:OLLI) last announced its quarterly earnings results on Wednesday, December 6th. The company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.01. The company had revenue of $238.10 million during the quarter, compared to analysts’ expectations of $233.77 million. Ollie's Bargain Outlet had a return on equity of 10.55% and a net margin of 8.17%. Ollie's Bargain Outlet’s quarterly revenue was up 17.9% on a year-over-year basis. During the same period last year, the business earned $0.17 earnings per share. research analysts expect that Ollie's Bargain Outlet will post 1.24 EPS for the current fiscal year.
In other Ollie's Bargain Outlet news, CEO Mark L. Butler sold 140,865 shares of the company’s stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $47.09, for a total transaction of $6,633,332.85. Following the completion of the sale, the chief executive officer now directly owns 4,245,437 shares of the company’s stock, valued at approximately $199,917,628.33. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Mark L. Butler sold 227,843 shares of the stock in a transaction that occurred on Friday, November 24th. The stock was sold at an average price of $47.02, for a total value of $10,713,177.86. Following the transaction, the chief executive officer now directly owns 4,356 shares of the company’s stock, valued at $204,819.12. The disclosure for this sale can be found here. Over the last three months, insiders sold 983,840 shares of company stock valued at $46,973,471. Insiders own 22.25% of the company’s stock.
Several hedge funds have recently modified their holdings of OLLI. CHURCHILL MANAGEMENT Corp purchased a new position in Ollie's Bargain Outlet in the 4th quarter valued at approximately $2,315,000. Shelton Capital Management purchased a new position in Ollie's Bargain Outlet in the 3rd quarter valued at approximately $213,000. GSA Capital Partners LLP purchased a new position in Ollie's Bargain Outlet in the 3rd quarter valued at approximately $243,000. Sterling Capital Management LLC increased its stake in Ollie's Bargain Outlet by 15.8% in the 3rd quarter. Sterling Capital Management LLC now owns 78,276 shares of the company’s stock valued at $3,632,000 after purchasing an additional 10,675 shares in the last quarter. Finally, First Heartland Consultants Inc. purchased a new position in Ollie's Bargain Outlet in the 3rd quarter valued at approximately $207,000. 89.66% of the stock is owned by institutional investors and hedge funds.
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About Ollie's Bargain Outlet
Ollie’s Bargain Outlet Holdings, Inc is a retailer of brand name merchandise. The Company offers customers a selection of brand name products, including food, housewares, books and stationery, bed and bath, floor coverings, electronics and toys. Its warehouse format stores feature a range of products, including hardware, personal healthcare, candy, clothing, sporting goods, pet and lawn and garden products.
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