Craig Hallum Forecasts Strong Price Appreciation for Ollie’s Bargain Outlet (NASDAQ:OLLI) Stock

Ollie’s Bargain Outlet (NASDAQ:OLLI) had its price target increased by equities research analysts at Craig Hallum from $107.00 to $130.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Craig Hallum’s target price would indicate a potential upside of 13.54% from the stock’s current price.

OLLI has been the topic of several other research reports. Bank of America boosted their target price on Ollie’s Bargain Outlet from $102.00 to $115.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Royal Bank of Canada lifted their price target on shares of Ollie’s Bargain Outlet from $120.00 to $130.00 and gave the stock an “outperform” rating in a research note on Wednesday. UBS Group increased their price target 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. Loop Capital reaffirmed a “buy” rating and set a $110.00 price target on shares of Ollie’s Bargain Outlet in a research note on Friday, September 20th. Finally, Piper Sandler increased their target price on shares of Ollie’s Bargain Outlet from $107.00 to $126.00 and gave the stock an “overweight” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, Ollie’s Bargain Outlet presently has a consensus rating of “Moderate Buy” and an average target price of $112.42.

Ollie’s Bargain Outlet Price Performance

Ollie’s Bargain Outlet stock traded up $3.48 during mid-day trading on Wednesday, hitting $114.50. The company’s stock had a trading volume of 784,660 shares, compared to its average volume of 1,043,873. The stock has a market cap of $7.02 billion, a price-to-earnings ratio of 34.68, a price-to-earnings-growth ratio of 2.53 and a beta of 0.85. Ollie’s Bargain Outlet has a 12 month low of $68.05 and a 12 month high of $115.98. The business has a 50 day moving average price of $95.30 and a 200-day moving average price of $94.70.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last released its earnings results on Tuesday, December 10th. The company reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.01. Ollie’s Bargain Outlet had a return on equity of 13.27% and a net margin of 9.19%. The company had revenue of $517.43 million during the quarter, compared to analysts’ expectations of $518.83 million. During the same quarter last year, the business posted $0.51 EPS. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. On average, equities research analysts expect that Ollie’s Bargain Outlet will post 3.27 earnings per share for the current fiscal year.

Insider Transactions at Ollie’s Bargain Outlet

In other news, CFO Robert F. Helm sold 2,401 shares of the company’s stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $94.68, for a total value of $227,326.68. Following the sale, the chief financial officer now owns 2,021 shares in the company, valued at approximately $191,348.28. This represents a 54.30 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO John W. Swygert sold 2,400 shares of Ollie’s Bargain Outlet stock in a transaction on Friday, December 6th. The stock was sold at an average price of $102.54, for a total transaction of $246,096.00. Following the completion of the transaction, the chief executive officer now directly owns 48,200 shares of the company’s stock, valued at approximately $4,942,428. This represents a 4.74 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 36,112 shares of company stock worth $3,614,366. Corporate insiders own 0.87% of the company’s stock.

Institutional Investors Weigh In On Ollie’s Bargain Outlet

Several large investors have recently made changes to their positions in the company. Cetera Advisors LLC acquired a new stake in Ollie’s Bargain Outlet during the first quarter valued at $228,000. Diversified Trust Co increased its position in shares of Ollie’s Bargain Outlet by 30.1% in the 2nd quarter. Diversified Trust Co now owns 5,838 shares of the company’s stock valued at $573,000 after buying an additional 1,350 shares in the last quarter. Wealth Enhancement Advisory Services LLC bought a new stake in Ollie’s Bargain Outlet during the second quarter worth about $362,000. Envestnet Portfolio Solutions Inc. boosted its holdings in shares of Ollie’s Bargain Outlet by 31.7% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 5,208 shares of the company’s stock worth $511,000 after buying an additional 1,254 shares during the period. Finally, Portside Wealth Group LLC boosted its holdings in Ollie’s Bargain Outlet by 41.3% in the 2nd quarter. Portside Wealth Group LLC now owns 12,299 shares of the company’s stock valued at $1,207,000 after purchasing an additional 3,596 shares during the period.

About Ollie’s Bargain Outlet

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.