Royal Bank of Canada Issues Positive Forecast for Ollie’s Bargain Outlet (NASDAQ:OLLI) Stock Price

Ollie’s Bargain Outlet (NASDAQ:OLLI) had its price objective lifted by investment analysts at Royal Bank of Canada from $120.00 to $130.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective would indicate a potential upside of 13.16% from the stock’s previous close.

Other research analysts also recently issued reports about the company. JPMorgan Chase & Co. cut their target price on Ollie’s Bargain Outlet from $113.00 to $105.00 and set an “overweight” rating on the stock in a report on Friday, August 30th. Wells Fargo & Company downgraded Ollie’s Bargain Outlet from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $100.00 to $95.00 in a report on Tuesday, December 3rd. UBS Group lifted their target price on Ollie’s Bargain Outlet from $97.00 to $99.00 and gave the stock a “neutral” rating in a report on Friday, August 30th. Gordon Haskett raised Ollie’s Bargain Outlet from an “accumulate” rating to a “buy” rating and boosted their price objective for the company from $105.00 to $107.00 in a research note on Monday, August 26th. Finally, Truist Financial boosted their price objective on Ollie’s Bargain Outlet from $109.00 to $121.00 and gave the company a “buy” rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, Ollie’s Bargain Outlet has a consensus rating of “Moderate Buy” and a consensus target price of $109.08.

Ollie’s Bargain Outlet Stock Performance

Shares of OLLI traded up $3.86 during trading hours on Wednesday, reaching $114.88. The stock had a trading volume of 498,288 shares, compared to its average volume of 1,042,873. Ollie’s Bargain Outlet has a 12 month low of $68.05 and a 12 month high of $115.98. The stock has a market capitalization of $7.05 billion, a PE ratio of 34.88, a PEG ratio of 2.53 and a beta of 0.85. The company’s 50-day moving average is $95.30 and its two-hundred day moving average is $94.70.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last announced 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. The firm had revenue of $517.43 million for the quarter, compared to the consensus estimate of $518.83 million. Ollie’s Bargain Outlet had a return on equity of 13.27% and a net margin of 9.19%. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.51 EPS. Equities analysts anticipate that Ollie’s Bargain Outlet will post 3.27 earnings per share for the current fiscal year.

Insider Activity at Ollie’s Bargain Outlet

In related news, CEO John W. Swygert sold 4,800 shares of the business’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $102.60, for a total value of $492,480.00. Following the completion of the sale, the chief executive officer now directly owns 48,200 shares of the company’s stock, valued at $4,945,320. The trade was a 9.06 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Kevin Mclain sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was 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 directly owns 10,610 shares of the company’s stock, valued at $1,050,283.90. This represents a 58.57 % 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 in the last three months. Corporate insiders own 0.87% of the company’s stock.

Institutional Trading of Ollie’s Bargain Outlet

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Royce & Associates LP increased its holdings in Ollie’s Bargain Outlet by 161.6% during the 3rd quarter. Royce & Associates LP now owns 75,605 shares of the company’s stock worth $7,349,000 after purchasing an additional 46,706 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Ollie’s Bargain Outlet by 0.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 753,658 shares of the company’s stock worth $73,256,000 after purchasing an additional 5,438 shares in the last quarter. Fred Alger Management LLC increased its holdings in Ollie’s Bargain Outlet by 12.1% during the 3rd quarter. Fred Alger Management LLC now owns 772,145 shares of the company’s stock worth $75,052,000 after purchasing an additional 83,063 shares in the last quarter. Hancock Whitney Corp bought a new stake in Ollie’s Bargain Outlet during the 3rd quarter worth approximately $988,000. Finally, D. E. Shaw & Co. Inc. increased its holdings in Ollie’s Bargain Outlet by 953.2% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 566,738 shares of the company’s stock worth $55,637,000 after purchasing an additional 512,928 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.