Ollie’s Bargain Outlet (NASDAQ: OLLI) is a brand retailer that merchandises names of brands. Their products include housewares, health and beauty products, toys, personal healthcare, food products, books, and stationery, as well as bed and baths. Their other products include pet and lawn, floor coverings, sporting, and clothes.
On Friday, the stocks had an opening of $93.03. Zacks Investment Research reported a plunge in NASDAQ: OLLI’s rating on Friday, from to be held to be sold. Zacks said that the firm had been underperforming for the past few months. Even with a better performing third quarter, things began slipping by the end of it, and as a result, the final quarter brought an underwhelming performance. The financial and health issues were also warned by the management as uncertainty due to the COVID-19 pandemic.
Research Reports on OLLI:
On Monday, 7th of December, Minimum Coupon Principal Protected Based upon Russel plunged OLLI’s shares to $78.00 from $91.00. Ollie’s Bargain Outlet was further reduced in rating from a whopping $118.00 to $70.00, reported Wells Fargo and Company, on 2nd of November Monday.
Bank Of America slashed the price ratings of NASDAQ: OLLI to a disappointing $115.00 from $125.00. Berenberg Bank and Craig Hullum gave a “hold” and “buy” rating, respectively. The latter decreased the price targets on the holdings of Ollie’s. The range fell to $100.00 from $128.00.
OLLI’s last earning results:
The market-capital of the firm is valued at $6.09 billion. They released their previous earnings on December 2nd. Their EPS for the quarter was valued at $0.65. This beats predictions by analysts’ of $0.58 or $0.07. NASDAQ: OLLI’s revenue also outperformed the analysts’ estimates, earning $414.40 million compared to their estimate- $405.70 million.
Increase in holdings:
FMR LLC now holds 35.9% of OLLI’s, valued at $329,034,000. Neuberger Berman Group LLC bought new shares, increasing their holding to $104,573,000. Riverbridge also increased its shares, now owning $88,100,000. JPMorgan Chase and Co. freshly owns a value stock of $65,232,000. Victory Capital’s sum of shares held at NASDAQ: OLLI is rated to be $46,194,000.
Despite the decrease in stock value, the firm still increased in holding value of OLLI.
