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.
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.
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.
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