Ollie’s Bargain Outlet Holdings, Inc. (OLLI) Downgraded by Zacks Investment Research to “Hold”

Zacks Investment Research downgraded shares of Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) from a buy rating to a hold rating in a research note published on Thursday morning.

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 research analysts also recently issued research reports about the stock. Bank of America Corporation restated a buy rating and set a $52.00 price objective on shares of Ollie’s Bargain Outlet Holdings in a report on Tuesday, September 5th. BidaskClub upgraded shares of Ollie’s Bargain Outlet Holdings from a buy rating to a strong-buy rating in a report on Wednesday, July 5th. Stephens assumed coverage on shares of Ollie’s Bargain Outlet Holdings in a report on Tuesday. They set an overweight rating and a $53.00 price objective on the stock. Royal Bank Of Canada boosted their price objective on shares of Ollie’s Bargain Outlet Holdings from $47.00 to $49.00 and gave the stock an outperform rating in a report 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. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company has a consensus rating of Buy and a consensus target price of $47.58.

Ollie’s Bargain Outlet Holdings (NASDAQ:OLLI) traded up $0.60 during trading hours on Thursday, hitting $44.50. 458,611 shares of the stock traded hands, compared to its average volume of 390,570. The company has a current ratio of 2.80, a quick ratio of 0.29 and a debt-to-equity ratio of 0.17. The company has a market cap of $2.74 billion, a P/E ratio of 41.34, a P/E/G ratio of 1.93 and a beta of 0.16.

Ollie’s Bargain Outlet Holdings (NASDAQ:OLLI) last posted its quarterly earnings data on Tuesday, August 29th. The company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.02. Ollie’s Bargain Outlet Holdings had a net margin of 7.60% and a return on equity of 10.44%. The company had revenue of $254.60 million for the quarter, compared to the consensus estimate of $242.85 million. During the same quarter in the previous year, the firm posted $0.21 EPS. The business’s revenue was up 20.5% compared to the same quarter last year. research analysts forecast that Ollie’s Bargain Outlet Holdings will post 1.19 earnings per share for the current fiscal year.

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In other Ollie’s Bargain Outlet Holdings news, CEO Mark L. Butler sold 5,023 shares of the company’s stock in a transaction dated Wednesday, September 27th. The shares were sold at an average price of $46.00, for a total transaction of $231,058.00. Following the sale, the chief executive officer now directly owns 4,509,395 shares of the company’s stock, valued at $207,432,170. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Howard Freedman sold 14,658 shares of the company’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $45.15, for a total transaction of $661,808.70. Following the sale, the vice president now directly owns 39,370 shares in the company, valued at $1,777,555.50. The disclosure for this sale can be found here. In the last three months, insiders sold 1,150,604 shares of company stock worth $52,550,809. 22.25% of the stock is currently owned by insiders.

Institutional investors have recently modified their holdings of the business. Goldman Sachs Group Inc. grew its stake in Ollie’s Bargain Outlet Holdings by 27.4% during the second quarter. Goldman Sachs Group Inc. now owns 208,271 shares of the company’s stock worth $8,872,000 after buying an additional 44,743 shares during the last quarter. Wasatch Advisors Inc. grew its stake in Ollie’s Bargain Outlet Holdings by 1.2% during the second quarter. Wasatch Advisors Inc. now owns 3,136,746 shares of the company’s stock worth $133,625,000 after buying an additional 37,517 shares during the last quarter. Northern Trust Corp grew its stake in Ollie’s Bargain Outlet Holdings by 70.9% during the second quarter. Northern Trust Corp now owns 609,254 shares of the company’s stock worth $25,954,000 after buying an additional 252,781 shares during the last quarter. Teachers Advisors LLC grew its stake in Ollie’s Bargain Outlet Holdings by 7.8% during the first quarter. Teachers Advisors LLC now owns 35,577 shares of the company’s stock worth $1,192,000 after buying an additional 2,578 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. grew its stake in Ollie’s Bargain Outlet Holdings by 31.9% during the second quarter. Schwab Charles Investment Management Inc. now owns 199,683 shares of the company’s stock worth $8,507,000 after buying an additional 48,299 shares during the last quarter. 91.92% of the stock is currently owned by hedge funds and other institutional investors.

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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