Ollie’s Bargain Outlet (NASDAQ:OLLI) Issues Quarterly Earnings Results, Beats Expectations By $0.07 EPS

Ollie’s Bargain Outlet (NASDAQ:OLLI) released its quarterly earnings results on Wednesday. The company reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.07, Briefing.com reports. The business had revenue of $648.90 million for the quarter, compared to analysts’ expectations of $649.39 million. Ollie’s Bargain Outlet had a net margin of 8.63% and a return on equity of 12.55%. The firm’s revenue for the quarter was up 18.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.84 earnings per share. 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 $0.26 during midday trading on Friday, hitting $79.37. 289,166 shares of the company’s stock traded hands, compared to its average volume of 847,301. Ollie’s Bargain Outlet has a 1 year low of $52.93 and a 1 year high of $84.38. The stock has a market capitalization of $4.89 billion, a price-to-earnings ratio of 27.30 and a beta of 0.76. The firm has a fifty day moving average of $75.91 and a 200 day moving average of $75.43.

Analysts Set New Price Targets

A number of brokerages have recently commented on OLLI. UBS Group boosted their target price on shares of Ollie’s Bargain Outlet from $92.00 to $95.00 and gave the company a “neutral” rating in a report on Thursday, December 7th. Truist Financial boosted their target price on shares of Ollie’s Bargain Outlet from $78.00 to $80.00 and gave the company a “hold” rating in a report on Thursday. Royal Bank of Canada restated an “outperform” rating and set a $86.00 target price on shares of Ollie’s Bargain Outlet in a report on Thursday. TheStreet cut shares of Ollie’s Bargain Outlet from a “b” rating to a “c+” rating in a report on Thursday, December 14th. Finally, The Goldman Sachs Group boosted their target price on shares of Ollie’s Bargain Outlet from $91.00 to $104.00 and gave the company a “buy” rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Ollie’s Bargain Outlet presently has a consensus rating of “Hold” and an average price target of $84.08.

Insider Activity

In related news, CEO John W. Swygert sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $82.57, for a total transaction of $412,850.00. Following the completion of the transaction, the chief executive officer now directly owns 48,200 shares in the company, valued at approximately $3,979,874. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CEO John W. Swygert sold 2,342 shares of the business’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was 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 directly owns 48,200 shares in the company, valued at approximately $3,626,086. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO John W. Swygert sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The stock was 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 of the company’s stock, valued at $3,979,874. The disclosure for this sale can be found here. Insiders own 0.86% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in OLLI. Vanguard Group Inc. raised its holdings in shares of Ollie’s Bargain Outlet by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 5,539,005 shares of the company’s stock worth $420,355,000 after acquiring an additional 43,979 shares in the last quarter. State Street Corp raised its holdings in shares of Ollie’s Bargain Outlet by 3.3% during the 1st quarter. State Street Corp now owns 1,734,913 shares of the company’s stock worth $100,521,000 after acquiring an additional 55,791 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Ollie’s Bargain Outlet by 26.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,585,472 shares of the company’s stock worth $91,859,000 after acquiring an additional 336,268 shares in the last quarter. Royal London Asset Management Ltd. purchased a new stake in shares of Ollie’s Bargain Outlet during the 1st quarter worth approximately $41,301,000. Finally, Geode Capital Management LLC raised its holdings in shares of Ollie’s Bargain Outlet by 3.1% during the 1st quarter. Geode Capital Management LLC now owns 885,892 shares of the company’s stock worth $51,329,000 after acquiring an additional 26,656 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.