Bank of America downgraded shares of Ollie's Bargain Outlet (NASDAQ:OLLI) from a buy rating to a neutral rating in a report issued on Thursday morning, Marketbeat reports. They currently have $65.00 target price on the stock.
Several other research firms also recently commented on OLLI. Zacks Investment Research downgraded Ollie's Bargain Outlet from a buy rating to a hold rating in a report on Thursday, March 8th. BidaskClub upgraded Ollie's Bargain Outlet from a buy rating to a strong-buy rating in a report on Tuesday, April 3rd. Piper Jaffray restated a buy rating and set a $71.00 price objective on shares of Ollie's Bargain Outlet in a report on Tuesday, January 9th. Morgan Stanley set a $48.00 price objective on Ollie's Bargain Outlet and gave the company a hold rating in a report on Thursday, December 7th. Finally, Stephens restated an overweight rating and set a $56.00 price objective (up previously from $54.00) on shares of Ollie's Bargain Outlet in a report on Monday, January 8th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Ollie's Bargain Outlet currently has an average rating of Hold and a consensus target price of $55.92.
Shares of OLLI opened at $58.95 on Thursday. Ollie's Bargain Outlet has a 52-week low of $33.20 and a 52-week high of $62.05. The company has a current ratio of 2.22, a quick ratio of 0.36 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $3,666.87, a price-to-earnings ratio of 47.16, a price-to-earnings-growth ratio of 1.50 and a beta of 0.14.
Ollie's Bargain Outlet (NASDAQ:OLLI) last issued its quarterly earnings results on Wednesday, April 4th. The company reported $0.51 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.02. Ollie's Bargain Outlet had a return on equity of 11.23% and a net margin of 11.85%. The firm had revenue of $356.70 million for the quarter, compared to analyst estimates of $349.93 million. During the same period in the previous year, the firm earned $0.39 earnings per share. The company’s revenue was up 25.9% compared to the same quarter last year. equities analysts predict that Ollie's Bargain Outlet will post 1.67 earnings per share for the current year.
In related news, VP Howard Freedman sold 8,300 shares of the company’s stock in a transaction on Thursday, March 1st. The stock was sold at an average price of $59.08, for a total transaction of $490,364.00. Following the completion of the sale, the vice president now owns 34,670 shares in the company, valued at $2,048,303.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Thomas Hendrickson sold 9,116 shares of the company’s stock in a transaction on Friday, January 19th. The stock was sold at an average price of $55.76, for a total value of $508,308.16. Following the sale, the director now owns 1,233 shares of the company’s stock, valued at approximately $68,752.08. The disclosure for this sale can be found here. Insiders have sold 95,742 shares of company stock valued at $5,567,718 in the last quarter. 22.25% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in OLLI. Carillon Tower Advisers Inc. bought a new stake in Ollie's Bargain Outlet during the fourth quarter worth $58,331,000. Bamco Inc. NY grew its holdings in Ollie's Bargain Outlet by 252.2% during the fourth quarter. Bamco Inc. NY now owns 519,774 shares of the company’s stock worth $27,678,000 after buying an additional 372,206 shares in the last quarter. Janus Henderson Group PLC bought a new stake in Ollie's Bargain Outlet during the third quarter worth $9,666,000. BlackRock Inc. grew its holdings in Ollie's Bargain Outlet by 3.1% during the fourth quarter. BlackRock Inc. now owns 6,057,562 shares of the company’s stock worth $322,567,000 after buying an additional 179,875 shares in the last quarter. Finally, Fred Alger Management Inc. grew its holdings in Ollie's Bargain Outlet by 38.4% during the fourth quarter. Fred Alger Management Inc. now owns 626,056 shares of the company’s stock worth $33,337,000 after buying an additional 173,577 shares in the last quarter. Institutional investors and hedge funds own 91.77% of the company’s stock.
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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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