MKM Partners Increases Ollie’s Bargain Outlet (OLLI) Price Target to $80.00

Ollie’s Bargain Outlet (NASDAQ:OLLI) had its target price increased by analysts at MKM Partners from $80.00 to $80.00 in a research note issued on Wednesday, Marketbeat.com reports. The firm presently has a “neutral” rating on the stock. MKM Partners’ target price suggests a potential downside of 9.04% from the stock’s previous close.

Several other analysts have also recently weighed in on OLLI. Bank of America cut shares of Ollie’s Bargain Outlet from a “neutral” rating to an “underperform” rating and reduced their target price for the company from $75.50 to $68.00 in a report on Friday, June 22nd. JPMorgan Chase & Co. raised their target price on shares of Ollie’s Bargain Outlet from $70.00 to $84.00 and gave the company an “overweight” rating in a report on Tuesday, May 22nd. BidaskClub raised shares of Ollie’s Bargain Outlet from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 23rd. Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $99.00 target price on shares of Ollie’s Bargain Outlet in a report on Tuesday, August 28th. Finally, Morgan Stanley raised their target price on shares of Ollie’s Bargain Outlet from $58.00 to $63.00 and gave the company a “hold” rating in a report on Wednesday, June 6th. Seven research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Ollie’s Bargain Outlet presently has an average rating of “Buy” and an average price target of $84.06.

Shares of OLLI opened at $87.95 on Wednesday. The stock has a market cap of $5.52 billion, a PE ratio of 70.36, a price-to-earnings-growth ratio of 2.22 and a beta of 0.26. Ollie’s Bargain Outlet has a 1 year low of $42.36 and a 1 year high of $89.85. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.25 and a current ratio of 2.18.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last issued its quarterly earnings results on Wednesday, September 5th. The company reported $0.40 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.04. The business had revenue of $288.10 million for the quarter, compared to analysts’ expectations of $284.19 million. Ollie’s Bargain Outlet had a net margin of 12.88% and a return on equity of 12.80%. The business’s quarterly revenue was up 13.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.27 earnings per share. analysts predict that Ollie’s Bargain Outlet will post 1.73 EPS for the current year.

In other Ollie’s Bargain Outlet news, SVP Kevin Mclain sold 12,667 shares of the stock in a transaction that occurred on Monday, June 11th. The shares were sold at an average price of $72.64, for a total value of $920,130.88. Following the transaction, the senior vice president now directly owns 5,750 shares in the company, valued at $417,680. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mark L. Butler sold 300,000 shares of the stock in a transaction that occurred on Wednesday, August 1st. The shares were sold at an average price of $67.48, for a total transaction of $20,244,000.00. The disclosure for this sale can be found here. Insiders sold 1,985,490 shares of company stock worth $143,390,525 over the last quarter. 20.27% of the stock is currently owned by insiders.

A number of institutional investors have recently made changes to their positions in the business. Point72 Asia Hong Kong Ltd purchased a new position in shares of Ollie’s Bargain Outlet during the first quarter worth approximately $112,000. Cerebellum GP LLC purchased a new position in shares of Ollie’s Bargain Outlet during the second quarter worth approximately $178,000. Cim LLC purchased a new position in shares of Ollie’s Bargain Outlet during the second quarter worth approximately $204,000. Zeke Capital Advisors LLC purchased a new position in shares of Ollie’s Bargain Outlet during the second quarter worth approximately $212,000. Finally, Verition Fund Management LLC purchased a new position in shares of Ollie’s Bargain Outlet during the second quarter worth approximately $214,000. Institutional investors own 89.04% of the company’s stock.

About Ollie’s Bargain Outlet

Ollie's Bargain Outlet Holdings, Inc operates as a retailer of brand name merchandise. The company offers food products, housewares, books and stationery, bed and bath products, floor coverings, electronics, and toys; and other products, including hardware, personal health care, candy, clothing, sporting, pet and lawn, and garden products.

Further Reading: Stock Ratings and Recommendations: Understanding Analyst Upgrades and Downgrades

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

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