Ollie's Bargain Outlet Receives Upgrade from StockNews.com

Ollie's Bargain Outlet (NASDAQ:OLLI) has been upgraded from a "sell" rating to a "hold" rating by research analysts at StockNews.com in their latest report released on Thursday.

Analyst Insights

Alongside StockNews.com’s upgrade, several other analysts have also weighed in on Ollie's Bargain Outlet. Loop Capital increased their target price from $110.00 to $120.00 and assigned a "buy" rating. Similarly, Piper Sandler raised their price goal from $107.00 to $126.00, giving the stock an "overweight" rating. Citigroup transitioned its rating from a "sell" to a "buy," adjusting their target price from $64.00 to a significantly higher $133.00. Bank of America also boosted its price target from $115.00 to $130.00, maintaining a "buy" stance. Gordon Haskett upgraded the stock from an "accumulate" rating to a "buy" while slightly increasing their target from $105.00 to $107.00.

Within the consensus of market analysts, there are currently four hold ratings and ten buy ratings. According to MarketBeat, the average rating for Ollie's Bargain Outlet stands at "Moderate Buy" with a consensus price target estimated at $117.85.

Stock Performance and Market Response

On Thursday, shares of Ollie's Bargain Outlet saw a gain of 2.7%, climbing by $3.14 to reach $117.63 during trading. This represented a notable trading volume of 1,492,399 shares, which is higher than its average volume of 1,057,542 shares. The company currently boasts a market capitalization of approximately $7.21 billion and has a price-to-earnings (P/E) ratio of 35.11, along with a P/E/G ratio of 2.79, and a beta of 0.85. Over the past year, Ollie's stock has fluctuated, reaching a low of $68.05 and a high of $118.95.

Latest Earnings Results

The last earnings report from Ollie's Bargain Outlet was shared on December 10. The company reported earnings per share (EPS) of $0.58 for the quarter, surpassing analysts' estimates of $0.57 by a slim margin. Their quarterly revenue stood at $517.43 million, slightly below the expected $518.83 million. The net margin for the company was recorded at 9.22% with a return on equity (ROE) of 13.15%. Compared to the same quarter in the previous year, the company experienced a revenue increase of 7.8% and an EPS improvement from $0.51 last year. Analysts predict an EPS of 3.29 for the current fiscal year.

Insider Transactions

Recent insider activity reveals that Eric Van Der Valk, the President, sold 7,479 shares on September 23 at an average price of $100.32. This resulted in a total transaction value of about $750,293. Following this sale, he retained 5,615 shares valued at approximately $563,296. Similarly, CFO Robert F. Helm sold 2,401 shares on October 17 at an average price of $94.68, totaling around $227,326.68. After this transaction, he owns 2,021 shares worth around $191,348. In recent months, company insiders sold a total of 97,651 shares, accumulating to $10,628,452 in worth, while corporate insiders currently own just 0.87% of the company's stock.

Institutional Investor Activity

Several institutional investors have made recent adjustments to their stakes in Ollie's Bargain Outlet. An example includes International Assets Investment Management LLC, which acquired a new stake valued around $25,000 in the second quarter. Crewe Advisors LLC entered a new investment in Ollie's during the same quarter, approximating $36,000. GAMMA Investing LLC notably increased their holdings by 37.9% in the third quarter, now holding 651 shares valued at about $63,000 after acquiring additional shares. Northwest & Ethical Investments L.P. also purchased a new stake valued at around $117,000, while LRI Investments LLC raised its investment significantly by over 2,356.1% during the third quarter to hold 1,400 shares valued at approximately $130,000.

Company Overview

Ollie's Bargain Outlet Holdings, Inc. operates as a retailer offering brand name merchandise across the United States. Their product assortment includes housewares, bed and bath items, food, floor coverings, health and beauty aids, electronics, toys, stationery, and more, covering a broad range of consumer needs.

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