Ollie's Bargain Outlet (OLLI) Cut to Neutral at Bank of America

Bank of America downgraded shares of Ollie's Bargain Outlet (NASDAQ:OLLI) from a buy rating to a neutral rating in a report released on Thursday morning, Marketbeat reports. They currently have $65.00 price objective on the stock.

Other research analysts have also recently issued research reports about the stock. MKM Partners set a $59.00 price objective on shares of Ollie's Bargain Outlet and gave the company a hold rating in a research report on Wednesday, March 28th. BidaskClub raised shares of Ollie's Bargain Outlet from a hold rating to a buy rating in a research note on Thursday, December 7th. Morgan Stanley set a $48.00 target price on shares of Ollie's Bargain Outlet and gave the company a hold rating in a research note on Thursday, December 7th. KeyCorp boosted their target price on shares of Ollie's Bargain Outlet from $60.00 to $65.00 and gave the company an overweight rating in a research note on Thursday. Finally, JPMorgan Chase boosted their target price on shares of Ollie's Bargain Outlet from $47.00 to $61.00 in a research note on Thursday, December 7th. One analyst has rated the stock with a sell rating, seven have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of Hold and a consensus price target of $55.92.

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OLLI stock traded down $1.15 during mid-day trading on Thursday, reaching $58.30. 954,657 shares of the stock traded hands, compared to its average volume of 617,969. The company has a quick ratio of 0.36, a current ratio of 2.53 and a debt-to-equity ratio of 0.16. Ollie's Bargain Outlet has a one year low of $33.20 and a one year high of $62.05. The stock has a market capitalization of $3,727.17, a price-to-earnings ratio of 47.84, a price-to-earnings-growth ratio of 1.56 and a beta of 0.14.

Ollie's Bargain Outlet (NASDAQ:OLLI) last posted its quarterly earnings data on Wednesday, April 4th. The company reported $0.51 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.02. Ollie's Bargain Outlet had a net margin of 11.85% and a return on equity of 11.62%. The business had revenue of $356.70 million for the quarter, compared to analysts’ expectations of $349.93 million. During the same quarter in the previous year, the business posted $0.39 earnings per share. The business’s revenue was up 25.9% compared to the same quarter last year. equities research analysts expect that Ollie's Bargain Outlet will post 1.66 EPS for the current year.

In related news, SVP Kevin Mclain sold 24,326 shares of the company’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $56.09, for a total value of $1,364,445.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Thomas Hendrickson sold 9,116 shares of the company’s stock in a transaction dated Friday, January 19th. The stock was sold at an average price of $55.76, for a total transaction of $508,308.16. Following the completion of the sale, the director now directly owns 1,233 shares of the company’s stock, valued at $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 over the last three months. Insiders own 22.25% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. Elkfork Partners LLC purchased a new stake in Ollie's Bargain Outlet in the fourth quarter worth about $315,000. Xact Kapitalforvaltning AB purchased a new stake in Ollie's Bargain Outlet in the fourth quarter worth about $309,000. Dynasty Wealth Management LLC purchased a new stake in Ollie's Bargain Outlet in the fourth quarter worth about $293,000. Pier Capital LLC lifted its stake in Ollie's Bargain Outlet by 18.7% in the fourth quarter. Pier Capital LLC now owns 140,922 shares of the company’s stock worth $7,504,000 after acquiring an additional 22,154 shares during the period. Finally, MetLife Investment Advisors LLC purchased a new stake in Ollie's Bargain Outlet in the fourth quarter worth about $1,190,000. 91.77% of the stock is owned by institutional investors.

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Ollie's Bargain Outlet Company Profile

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.

Analyst Recommendations for Ollie's Bargain Outlet (NASDAQ:OLLI)

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