Ollie’s Bargain Outlet (NASDAQ:OLLI) Reaches New 52-Week High on Strong Earnings

Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) reached a new 52-week high during mid-day trading on Tuesday following a better than expected earnings announcement. The stock traded as high as $111.86 and last traded at $111.40, with a volume of 482069 shares trading hands. The stock had previously closed at $98.05.

The company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.01. Ollie’s Bargain Outlet had a return on equity of 13.27% and a net margin of 9.19%. The firm had revenue of $517.43 million for the quarter, compared to analysts’ expectations of $518.83 million. During the same period in the prior year, the firm earned $0.51 EPS. The company’s revenue was up 7.8% compared to the same quarter last year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on OLLI. UBS Group raised their price target on Ollie’s Bargain Outlet from $97.00 to $99.00 and gave the stock a “neutral” rating in a research report on Friday, August 30th. JPMorgan Chase & Co. reduced their price target on Ollie’s Bargain Outlet from $113.00 to $105.00 and set an “overweight” rating on the stock in a report on Friday, August 30th. Royal Bank of Canada boosted their target price on shares of Ollie’s Bargain Outlet from $100.00 to $106.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. Loop Capital reiterated a “buy” rating and set a $110.00 price objective on shares of Ollie’s Bargain Outlet in a report on Friday, September 20th. Finally, Piper Sandler restated an “overweight” rating and issued a $107.00 target price on shares of Ollie’s Bargain Outlet in a research note on Friday, October 4th. One analyst has rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $104.50.

Insider Buying and Selling at Ollie’s Bargain Outlet

In related news, CFO Robert F. Helm sold 2,401 shares of the company’s stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $94.68, for a total transaction of $227,326.68. Following the transaction, the chief financial officer now owns 2,021 shares of the company’s stock, valued at $191,348.28. This represents a 54.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO John W. Swygert sold 2,400 shares of the stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $102.54, for a total transaction of $246,096.00. Following the completion of the transaction, the chief executive officer now owns 48,200 shares of the company’s stock, valued at $4,942,428. This represents a 4.74 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 36,112 shares of company stock worth $3,614,366. 0.87% of the stock is currently owned by insiders.

Institutional Trading of Ollie’s Bargain Outlet

Hedge funds and other institutional investors have recently bought and sold shares of the company. International Assets Investment Management LLC purchased a new position in Ollie’s Bargain Outlet in the second quarter valued at approximately $25,000. Crewe Advisors LLC acquired a new stake in Ollie’s Bargain Outlet during the 2nd quarter valued at $36,000. GAMMA Investing LLC lifted its holdings in Ollie’s Bargain Outlet by 37.9% in the 3rd quarter. GAMMA Investing LLC now owns 651 shares of the company’s stock worth $63,000 after buying an additional 179 shares in the last quarter. Northwest & Ethical Investments L.P. acquired a new stake in shares of Ollie’s Bargain Outlet during the third quarter valued at about $117,000. Finally, LRI Investments LLC boosted its holdings in Ollie’s Bargain Outlet by 2,356.1% in the third quarter. LRI Investments LLC now owns 1,400 shares of the company’s stock valued at $130,000 after purchasing an additional 1,343 shares during the last quarter.

Ollie’s Bargain Outlet Trading Up 13.2 %

The business has a 50 day simple moving average of $95.30 and a two-hundred day simple moving average of $94.70. The stock has a market cap of $6.81 billion, a price-to-earnings ratio of 33.85, a price-to-earnings-growth ratio of 2.53 and a beta of 0.85.

About Ollie’s Bargain Outlet

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