Ollie’s Bargain Outlet (NASDAQ:OLLI) Announces Earnings Results

Ollie’s Bargain Outlet (NASDAQ:OLLI) announced its quarterly earnings results on Wednesday. The company reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.16 by $0.07, Briefing.com reports. Ollie’s Bargain Outlet had a net margin of 8.63% and a return on equity of 12.55%. The company had revenue of $648.90 million for the quarter, compared to the consensus estimate of $649.39 million. During the same period in the previous year, the firm posted $0.84 EPS. Ollie’s Bargain Outlet’s revenue for the quarter was up 18.0% compared to the same quarter last year. Ollie’s Bargain Outlet updated its FY25 guidance to $3.10-$3.20 EPS and its FY 2024 guidance to 3.100-3.200 EPS.

Ollie’s Bargain Outlet Stock Performance

Shares of NASDAQ OLLI traded down $1.46 during mid-day trading on Friday, reaching $78.17. The company’s stock had a trading volume of 1,240,645 shares, compared to its average volume of 864,324. The stock has a 50-day moving average of $75.91 and a two-hundred day moving average of $75.43. The stock has a market capitalization of $4.81 billion, a P/E ratio of 27.30 and a beta of 0.76. Ollie’s Bargain Outlet has a 1-year low of $52.93 and a 1-year high of $84.38.

Analysts Set New Price Targets

A number of research firms recently commented on OLLI. Truist Financial lifted their price target on shares of Ollie’s Bargain Outlet from $78.00 to $80.00 and gave the stock a “hold” rating in a research note on Thursday. Royal Bank of Canada reissued an “outperform” rating and issued a $86.00 price objective on shares of Ollie’s Bargain Outlet in a research report on Thursday. The Goldman Sachs Group boosted their price objective on shares of Ollie’s Bargain Outlet from $91.00 to $104.00 and gave the company a “buy” rating in a research report on Thursday. Craig Hallum boosted their price objective on shares of Ollie’s Bargain Outlet from $98.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday. Finally, TheStreet lowered shares of Ollie’s Bargain Outlet from a “b” rating to a “c+” rating in a report on Thursday, December 14th. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $84.08.

Insider Activity

In related news, CEO John W. Swygert sold 2,342 shares of the firm’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $75.23, for a total transaction of $176,188.66. Following the completion of the sale, the chief executive officer now directly owns 48,200 shares in the company, valued at $3,626,086. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO John W. Swygert sold 5,000 shares of Ollie’s Bargain Outlet stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $82.57, for a total value of $412,850.00. Following the completion of the transaction, the chief executive officer now owns 48,200 shares in the company, valued at $3,979,874. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO John W. Swygert sold 2,342 shares of Ollie’s Bargain Outlet stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $75.23, for a total transaction of $176,188.66. Following the completion of the transaction, the chief executive officer now owns 48,200 shares of the company’s stock, valued at approximately $3,626,086. The disclosure for this sale can be found here. Company insiders own 0.86% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in OLLI. Creative Planning acquired a new position in Ollie’s Bargain Outlet during the 3rd quarter worth approximately $46,000. KBC Group NV acquired a new position in Ollie’s Bargain Outlet during the 4th quarter worth approximately $70,000. Captrust Financial Advisors grew its holdings in Ollie’s Bargain Outlet by 81.1% during the 2nd quarter. Captrust Financial Advisors now owns 1,411 shares of the company’s stock worth $83,000 after acquiring an additional 632 shares in the last quarter. Lazard Asset Management LLC acquired a new position in Ollie’s Bargain Outlet during the 2nd quarter worth approximately $167,000. Finally, State of Wyoming grew its holdings in Ollie’s Bargain Outlet by 371.7% during the 2nd quarter. State of Wyoming now owns 2,972 shares of the company’s stock worth $172,000 after acquiring an additional 2,342 shares in the last quarter.

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.