Ollie's Bargain Outlet Receives Rating Upgrade from StockNews.com

Ollie's Bargain Outlet (NASDAQ:OLLI) has seen a change in its stock rating by analysts at StockNews.com, who have upgraded the company from a "sell" rating to a "hold" rating. This shift in rating was made public in a report released on Thursday, reflecting analysts' reassessment of the stock's performance.

Analyst Insights on Ollie's Bargain Outlet

In addition to StockNews.com's adjustment, several other analysts have provided updates on Ollie's stock. Loop Capital has raised their price target for Ollie's Bargain Outlet from $110 to $120 and assigned a "buy" rating. Similarly, Piper Sandler increased their price objective from $107 to $126, maintaining an "overweight" rating.

Citigroup has also made notable adjustments, moving their rating from "sell" to "buy" and raising the target price significantly from $64 to $133. In another update, Bank of America adjusted their price target from $115 to $130, reiterating a "buy" rating. Lastly, Gordon Haskett elevated their rating from "accumulate" to "buy," slightly increasing their target from $105 to $107.

Currently, the consensus among analysts is generally positive, with four giving the stock a hold rating and ten considering it a buy. MarketBeat reports an average rating of "Moderate Buy" with a target price set at $117.85.

Current Trading Status

On Thursday, Ollie's Bargain Outlet experienced a 2.7% increase in share price, reaching $117.63. The trading volume was substantial, with approximately 1,492,399 shares exchanged, which is higher than the average volume of 1,057,542 shares. Key averages for the stock include a fifty-day moving average of $97.49 and a 200-day moving average of $96.00. The company is valued with a market capitalization of $7.21 billion, a price-to-earnings ratio of 35.11, and a P/E/G ratio of 2.79. This stock has experienced a twelve-month low of $68.05 and a high of $118.95.

Recent Financial Performance

In its latest earnings announcement on December 10, Ollie's reported earnings per share (EPS) of $0.58, exceeding initial estimates of $0.57. The company generated $517.43 million in revenue for the quarter, which was slightly below the anticipated $518.83 million. Ollie's achieved a net margin of 9.22% and recorded a return on equity of 13.15%. Compared to the same quarter of the previous year, revenues have increased by 7.8%. Analysts forecast that Ollie's Bargain Outlet will achieve an EPS of 3.29 for the current fiscal year.

Insider Activity

In recent insider news, Eric Van Der Valk, the company's President, sold 7,479 shares at an average price of $100.32, totaling around $750,293.28. As a result of this transaction, he now owns 5,615 shares, reflecting a significant reduction in his holdings. Additionally, CFO Robert F. Helm sold 2,401 shares at an average price of $94.68, amounting to approximately $227,326.68. Following this sale, Helm owns 2,021 shares. Over the last three months, insider sales have totaled 97,651 shares, valued at roughly $10.6 million. Currently, corporate insiders hold about 0.87% of the company's total stock.

Institutional Investor Activities

Several institutional investors have been adjusting their stakes in Ollie's Bargain Outlet recently. International Assets Investment Management LLC has newly invested in the company, while Crewe Advisors LLC has also acquired a new stake. GAMMA Investing LLC increased its holdings by nearly 38% during the third quarter. Moreover, Northwest & Ethical Investments L.P. and LRI Investments LLC both acquired new positions, valuing their stakes at approximately $117,000 and $130,000, respectively.

About Ollie's Bargain Outlet

Ollie's Bargain Outlet Holdings, Inc. is a retailer that specializes in selling brand-name merchandise across the United States. Their product range includes housewares, food items, health and beauty aids, electronics, and more. The company provides a diverse selection of products for consumers.

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