Ollie’s Bargain Outlet (NASDAQ:OLLI) Hits New 1-Year High at $98.62

Shares of Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLIGet Free Report) reached a new 52-week high on Tuesday . The company traded as high as $98.62 and last traded at $98.61, with a volume of 71540 shares changing hands. The stock had previously closed at $95.98.

Wall Street Analysts Forecast Growth

OLLI has been the topic of a number of recent research reports. JPMorgan Chase & Co. upgraded Ollie’s Bargain Outlet from a “neutral” rating to an “overweight” rating and set a $105.00 target price on the stock in a report on Monday. Loop Capital raised their target price on Ollie’s Bargain Outlet from $90.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, June 6th. Truist Financial lifted their price target on Ollie’s Bargain Outlet from $86.00 to $102.00 and gave the stock a “buy” rating in a report on Thursday, June 6th. Royal Bank of Canada lifted their price target on Ollie’s Bargain Outlet from $86.00 to $101.00 and gave the stock an “outperform” rating in a report on Thursday, June 6th. Finally, Morgan Stanley lifted their price target on Ollie’s Bargain Outlet from $80.00 to $92.00 and gave the stock an “equal weight” rating in a report on Thursday, June 6th. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $100.09.

Read Our Latest Stock Analysis on OLLI

Ollie’s Bargain Outlet Price Performance

The stock has a market capitalization of $5.96 billion, a P/E ratio of 30.28, a price-to-earnings-growth ratio of 2.35 and a beta of 0.82. The company has a 50 day simple moving average of $77.48 and a 200-day simple moving average of $75.76.

Ollie’s Bargain Outlet (NASDAQ:OLLIGet Free Report) last announced its quarterly earnings results on Wednesday, June 5th. The company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.08. The company had revenue of $508.82 million during the quarter, compared to analysts’ expectations of $506.49 million. Ollie’s Bargain Outlet had a return on equity of 13.22% and a net margin of 9.14%. The firm’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.49 earnings per share. As a group, equities analysts forecast that Ollie’s Bargain Outlet Holdings, Inc. will post 3.31 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Robert F. Helm sold 2,317 shares of Ollie’s Bargain Outlet stock in a transaction on Monday, March 25th. The stock was sold at an average price of $78.14, for a total value of $181,050.38. Following the completion of the transaction, the chief financial officer now directly owns 1,777 shares in the company, valued at $138,854.78. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CFO Robert F. Helm sold 2,317 shares of the business’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $78.14, for a total transaction of $181,050.38. Following the completion of the transaction, the chief financial officer now directly owns 1,777 shares in the company, valued at $138,854.78. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, President Der Valk Eric Van sold 1,438 shares of the company’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $90.00, for a total value of $129,420.00. Following the completion of the transaction, the president now owns 4,158 shares of the company’s stock, valued at $374,220. The disclosure for this sale can be found here. Over the last three months, insiders sold 50,055 shares of company stock worth $4,083,045. 0.87% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Ollie’s Bargain Outlet

Hedge funds and other institutional investors have recently modified their holdings of the company. Venturi Wealth Management LLC boosted its holdings in shares of Ollie’s Bargain Outlet by 194.3% in the 1st quarter. Venturi Wealth Management LLC now owns 309 shares of the company’s stock worth $25,000 after purchasing an additional 204 shares in the last quarter. Operose Advisors LLC bought a new stake in shares of Ollie’s Bargain Outlet in the 3rd quarter valued at about $26,000. ORG Partners LLC bought a new stake in shares of Ollie’s Bargain Outlet in the 1st quarter valued at about $28,000. Blue Bell Private Wealth Management LLC bought a new stake in shares of Ollie’s Bargain Outlet in the 1st quarter valued at about $29,000. Finally, YHB Investment Advisors Inc. bought a new stake in shares of Ollie’s Bargain Outlet in the 1st quarter valued at about $48,000.

Ollie’s Bargain Outlet Company Profile

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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.

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