Ollie’s Bargain Outlet (NASDAQ:OLLI – Get Free Report) released its earnings results on Wednesday. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.04, Briefing.com reports. The business had revenue of $658.93 million for the quarter, compared to analyst estimates of $661.65 million. Ollie’s Bargain Outlet had a return on equity of 13.18% and a net margin of 9.08%.The company’s revenue for the quarter was up 14.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.75 earnings per share.
Ollie’s Bargain Outlet Stock Performance
OLLI opened at $79.25 on Wednesday. The company has a market capitalization of $4.81 billion, a P/E ratio of 20.32, a PEG ratio of 1.42 and a beta of 0.46. Ollie’s Bargain Outlet has a 1-year low of $73.32 and a 1-year high of $141.74. The company has a 50-day moving average of $87.45 and a 200-day moving average of $104.03.
Analyst Upgrades and Downgrades
OLLI has been the topic of several research analyst reports. UBS Group set a $125.00 price target on Ollie’s Bargain Outlet in a research note on Monday, March 16th. Weiss Ratings lowered shares of Ollie’s Bargain Outlet from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, April 22nd. Wells Fargo & Company dropped their target price on shares of Ollie’s Bargain Outlet from $130.00 to $115.00 and set an “overweight” rating for the company in a report on Wednesday, May 13th. Piper Sandler reaffirmed an “overweight” rating and issued a $128.00 price target (down from $140.00) on shares of Ollie’s Bargain Outlet in a report on Friday, March 13th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Ollie’s Bargain Outlet from $163.00 to $152.00 and set an “overweight” rating on the stock in a report on Monday, April 13th. Thirteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Ollie’s Bargain Outlet currently has an average rating of “Moderate Buy” and an average target price of $137.21.
Insider Transactions at Ollie’s Bargain Outlet
In other Ollie’s Bargain Outlet news, Chairman John W. Swygert sold 5,231 shares of Ollie’s Bargain Outlet stock in a transaction that occurred on Tuesday, March 31st. The stock was sold at an average price of $92.09, for a total value of $481,722.79. Following the completion of the transaction, the chairman directly owned 48,200 shares in the company, valued at $4,438,738. The trade was a 9.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 12,459 shares of company stock worth $1,149,218 in the last quarter. Company insiders own 0.87% of the company’s stock.
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of OLLI. Corient Private Wealth LLC increased its stake in shares of Ollie’s Bargain Outlet by 127.3% during the fourth quarter. Corient Private Wealth LLC now owns 12,326 shares of the company’s stock valued at $1,351,000 after acquiring an additional 6,903 shares during the period. Mercer Global Advisors Inc. ADV raised its position in Ollie’s Bargain Outlet by 37.9% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 3,076 shares of the company’s stock worth $337,000 after acquiring an additional 845 shares in the last quarter. Vident Advisory LLC lifted its holdings in Ollie’s Bargain Outlet by 93.5% in the 4th quarter. Vident Advisory LLC now owns 4,547 shares of the company’s stock valued at $498,000 after acquiring an additional 2,197 shares during the last quarter. XTX Topco Ltd lifted its stake in Ollie’s Bargain Outlet by 116.4% during the fourth quarter. XTX Topco Ltd now owns 5,374 shares of the company’s stock valued at $589,000 after purchasing an additional 2,891 shares during the last quarter. Finally, Wellington Management Group LLP grew its position in Ollie’s Bargain Outlet by 57.1% during the 4th quarter. Wellington Management Group LLP now owns 953,008 shares of the company’s stock worth $104,459,000 after purchasing an additional 346,543 shares in the last quarter.
About Ollie’s Bargain Outlet
Ollie’s Bargain Outlet is an American discount retailer specializing in closeout merchandise and surplus inventory across a broad range of categories. The company operates a no-frills retail format that offers branded and private-label products at significant markdowns. Its merchandise mix typically includes housewares, electronics, health and beauty items, food products, beauty supplies, books, toys, and seasonal goods.
Founded in 1982 by Oliver E. “Ollie” Rosenberg, the company is headquartered in Harrisburg, Pennsylvania.
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