Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) Lowered to “Hold” at Zacks Investment Research

Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Thursday, September 7th.

According to Zacks, “Ollie’s Bargain Outlet Holdings, Inc. is a retailer of closeouts, excess inventory and salvage merchandise. The Company’s product includes housewares, food, books and stationery, bed and bath, floor coverings, toys and hardware. Its brand portfolio consist of Ollie’s, Ollie’s Bargain Outlet, Ollie’s Army, Real Brands! Real Bargains! and Good Stuff Cheap. The company operates primarily in Alabama, Delaware, Georgia, Indiana, Kentucky, Maryland, Michigan, New Jersey, New York, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee, Virginia and West Virginia. Ollie’s Bargain Outlet Holdings, Inc. is based in Harrisburg, United States. “

Other analysts have also recently issued research reports about the stock. BidaskClub raised shares of Ollie’s Bargain Outlet Holdings from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 5th. Bank of America Corporation reissued a “buy” rating and set a $52.00 target price on shares of Ollie’s Bargain Outlet Holdings in a research note on Tuesday, September 5th. Royal Bank Of Canada boosted their target price on shares of Ollie’s Bargain Outlet Holdings from $47.00 to $49.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 30th. Buckingham Research set a $41.00 target price on shares of Ollie’s Bargain Outlet Holdings and gave the stock a “hold” rating in a research note on Wednesday, August 30th. Finally, TheStreet raised shares of Ollie’s Bargain Outlet Holdings from a “c” rating to a “b-” rating in a research note on Monday, July 17th. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $46.88.

Shares of Ollie’s Bargain Outlet Holdings (OLLI) traded up 1.21% during trading on Thursday, reaching $45.85. The company’s stock had a trading volume of 679,813 shares. Ollie’s Bargain Outlet Holdings has a one year low of $24.80 and a one year high of $46.00. The firm’s 50-day moving average price is $45.57 and its 200-day moving average price is $39.42. The company has a market capitalization of $2.81 billion, a price-to-earnings ratio of 39.53 and a beta of 0.17.

Ollie’s Bargain Outlet Holdings (NASDAQ:OLLI) last released its quarterly earnings data on Tuesday, August 29th. The company reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.02. The company had revenue of $254.60 million during the quarter, compared to analysts’ expectations of $242.85 million. Ollie’s Bargain Outlet Holdings had a net margin of 7.60% and a return on equity of 10.44%. The firm’s revenue for the quarter was up 20.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.21 earnings per share. On average, equities analysts anticipate that Ollie’s Bargain Outlet Holdings will post $1.19 earnings per share for the current year.

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In other Ollie’s Bargain Outlet Holdings news, CEO Mark L. Butler sold 6,248 shares of the business’s stock in a transaction dated Thursday, August 24th. The shares were sold at an average price of $45.00, for a total value of $281,160.00. Following the transaction, the chief executive officer now directly owns 4,880,480 shares in the company, valued at approximately $219,621,600. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Kenneth Robert Bertram sold 6,000 shares of the business’s stock in a transaction dated Monday, July 17th. The shares were sold at an average price of $43.25, for a total transaction of $259,500.00. Following the completion of the transaction, the vice president now owns 6,000 shares in the company, valued at $259,500. The disclosure for this sale can be found here. Insiders have sold 469,981 shares of company stock worth $21,212,335 over the last 90 days. 22.25% of the stock is currently owned by company insiders.

A number of large investors have recently bought and sold shares of the business. FMR LLC boosted its holdings in Ollie’s Bargain Outlet Holdings by 22.3% in the 1st quarter. FMR LLC now owns 6,550,250 shares of the company’s stock valued at $219,433,000 after purchasing an additional 1,195,337 shares during the last quarter. BlackRock Inc. boosted its holdings in Ollie’s Bargain Outlet Holdings by 17.3% in the 2nd quarter. BlackRock Inc. now owns 5,659,483 shares of the company’s stock valued at $241,093,000 after purchasing an additional 832,667 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Ollie’s Bargain Outlet Holdings by 4.7% in the 2nd quarter. Vanguard Group Inc. now owns 4,339,008 shares of the company’s stock valued at $184,842,000 after purchasing an additional 195,242 shares during the last quarter. Wasatch Advisors Inc. boosted its holdings in Ollie’s Bargain Outlet Holdings by 1.2% in the 2nd quarter. Wasatch Advisors Inc. now owns 3,136,746 shares of the company’s stock valued at $133,625,000 after purchasing an additional 37,517 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its holdings in Ollie’s Bargain Outlet Holdings by 0.7% in the 1st quarter. Alliancebernstein L.P. now owns 2,949,312 shares of the company’s stock valued at $98,802,000 after purchasing an additional 20,795 shares during the last quarter. Institutional investors own 92.47% of the company’s stock.

About Ollie’s Bargain Outlet Holdings

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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