Ollie’s Bargain Outlet (NASDAQ:OLLI) Shares Gap Up on Better-Than-Expected Earnings

Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLIGet Free Report)’s share price gapped up prior to trading on Wednesday following a better than expected earnings announcement. The stock had previously closed at $82.04, but opened at $85.00. Ollie’s Bargain Outlet shares last traded at $88.32, with a volume of 310,418 shares trading hands.

The company reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.08. Ollie’s Bargain Outlet had a net margin of 9.14% and a return on equity of 13.39%. The company had revenue of $508.82 million during the quarter, compared to the consensus estimate of $506.49 million. During the same period in the previous year, the firm posted $0.49 earnings per share. The company’s revenue was up 10.8% on a year-over-year basis.

Analyst Ratings Changes

A number of research firms recently weighed in on OLLI. UBS Group boosted their price target on shares of Ollie’s Bargain Outlet from $95.00 to $97.00 and gave the stock a “neutral” rating in a research note on Thursday. The Goldman Sachs Group boosted their price target on shares of Ollie’s Bargain Outlet from $91.00 to $104.00 and gave the stock a “buy” rating in a research note on Thursday, March 21st. Loop Capital boosted their price target on shares of Ollie’s Bargain Outlet from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday. Morgan Stanley boosted their price target on shares of Ollie’s Bargain Outlet from $80.00 to $92.00 and gave the stock an “equal weight” rating in a research note on Thursday. Finally, Craig Hallum boosted their price target on shares of Ollie’s Bargain Outlet from $100.00 to $105.00 and gave the stock a “buy” rating in a research note on Thursday. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $94.67.

Check Out Our Latest Report on OLLI

Insider Activity

In other news, CFO Robert F. Helm sold 2,317 shares of the business’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $78.14, for a total value of $181,050.38. Following the completion of the transaction, the chief financial officer now owns 1,777 shares of the company’s stock, valued at approximately $138,854.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CEO John W. Swygert sold 11,756 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $75.22, for a total value of $884,286.32. Following the sale, the chief executive officer now directly owns 48,200 shares of the company’s stock, valued at approximately $3,625,604. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Robert F. Helm sold 2,317 shares of the business’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $78.14, for a total transaction of $181,050.38. Following the completion of the sale, the chief financial officer now directly owns 1,777 shares in the company, valued at $138,854.78. The disclosure for this sale can be found here. Insiders sold 33,881 shares of company stock valued at $2,674,393 in the last quarter. Company insiders own 0.87% of the company’s stock.

Institutional Investors Weigh In On Ollie’s Bargain Outlet

Several institutional investors have recently added to or reduced their stakes in OLLI. New York State Common Retirement Fund lifted its position in Ollie’s Bargain Outlet by 14.7% in the 3rd quarter. New York State Common Retirement Fund now owns 102,207 shares of the company’s stock valued at $7,888,000 after acquiring an additional 13,064 shares in the last quarter. Amalgamated Bank lifted its position in Ollie’s Bargain Outlet by 5.8% during the 3rd quarter. Amalgamated Bank now owns 41,829 shares of the company’s stock worth $3,228,000 after buying an additional 2,299 shares in the last quarter. Swiss National Bank lifted its position in Ollie’s Bargain Outlet by 6.0% during the 3rd quarter. Swiss National Bank now owns 135,800 shares of the company’s stock worth $10,481,000 after buying an additional 7,700 shares in the last quarter. Janney Montgomery Scott LLC lifted its position in Ollie’s Bargain Outlet by 73.0% during the 3rd quarter. Janney Montgomery Scott LLC now owns 15,045 shares of the company’s stock worth $1,161,000 after buying an additional 6,346 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Ollie’s Bargain Outlet by 12.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 722,440 shares of the company’s stock worth $55,758,000 after buying an additional 81,215 shares in the last quarter.

Ollie’s Bargain Outlet Stock Performance

The firm’s 50-day simple moving average is $75.46 and its 200 day simple moving average is $75.22. The stock has a market capitalization of $5.17 billion, a P/E ratio of 26.61, a PEG ratio of 2.70 and a beta of 0.82.

About Ollie’s Bargain Outlet

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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.

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