Ollie’s Bargain Outlet (NASDAQ:OLLI) Reaches New 12-Month High Following Better-Than-Expected Earnings

Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) hit 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 traded. The stock had previously closed at $98.05.

The company reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $517.43 million during the quarter, compared to analyst estimates of $518.83 million. During the same quarter in the previous year, the company posted $0.51 EPS. Ollie’s Bargain Outlet’s revenue for the quarter was up 7.8% on a year-over-year basis.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Wells Fargo & Company lowered Ollie’s Bargain Outlet from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $100.00 to $95.00 in a research report on Tuesday, December 3rd. JPMorgan Chase & Co. lowered their price target on Ollie’s Bargain Outlet from $113.00 to $105.00 and set an “overweight” rating for the company in a research report on Friday, August 30th. StockNews.com lowered Ollie’s Bargain Outlet from a “hold” rating to a “sell” rating in a research report on Tuesday, October 22nd. Gordon Haskett raised Ollie’s Bargain Outlet from an “accumulate” rating to a “buy” rating and upped their price target for the company from $105.00 to $107.00 in a research report on Monday, August 26th. Finally, Bank of America upped their price target on Ollie’s Bargain Outlet from $102.00 to $115.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. One equities research 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’s stock. According to MarketBeat, Ollie’s Bargain Outlet presently has an average rating of “Moderate Buy” and an average price target of $104.50.

Insider Activity

In related news, CEO John W. Swygert sold 4,032 shares of Ollie’s Bargain Outlet stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $102.51, for a total value of $413,320.32. Following the completion of the transaction, the chief executive officer now owns 48,200 shares in the company, valued at approximately $4,940,982. This trade represents a 7.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Kevin Mclain sold 15,000 shares of Ollie’s Bargain Outlet stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $98.99, for a total value of $1,484,850.00. Following the completion of the transaction, the senior vice president now owns 10,610 shares of the company’s stock, valued at approximately $1,050,283.90. This represents a 58.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 33,712 shares of company stock worth $3,368,270 over the last 90 days. Corporate insiders own 0.87% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Signaturefd LLC boosted its position in shares of Ollie’s Bargain Outlet by 6.4% during the second quarter. Signaturefd LLC now owns 1,727 shares of the company’s stock valued at $170,000 after buying an additional 104 shares during the period. Trust Point Inc. boosted its position in shares of Ollie’s Bargain Outlet by 1.0% during the third quarter. Trust Point Inc. now owns 13,184 shares of the company’s stock valued at $1,281,000 after buying an additional 134 shares during the period. FORA Capital LLC boosted its position in shares of Ollie’s Bargain Outlet by 3.2% during the third quarter. FORA Capital LLC now owns 4,800 shares of the company’s stock valued at $467,000 after buying an additional 148 shares during the period. GAMMA Investing LLC boosted its position in shares of Ollie’s Bargain Outlet by 37.9% during the third quarter. GAMMA Investing LLC now owns 651 shares of the company’s stock valued at $63,000 after buying an additional 179 shares during the period. Finally, Farther Finance Advisors LLC raised its stake in shares of Ollie’s Bargain Outlet by 5.6% during the third quarter. Farther Finance Advisors LLC now owns 3,544 shares of the company’s stock valued at $344,000 after acquiring an additional 188 shares in the last quarter.

Ollie’s Bargain Outlet Stock Up 11.8 %

The company’s 50 day moving average price is $94.99 and its two-hundred day moving average price is $94.47. The stock has a market cap of $6.72 billion, a P/E ratio of 33.96, a P/E/G ratio of 2.53 and a beta of 0.85.

Ollie’s Bargain Outlet Company Profile

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.