Ollie’s Bargain Outlet (NASDAQ:OLLI) Shares Gap Up on Earnings Beat

Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLIGet Free Report)’s share price gapped up prior to trading on Wednesday following a stronger than expected earnings report. 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 changing hands.

The company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $506.49 million. During the same quarter in the previous year, the company earned $0.49 earnings per share. Ollie’s Bargain Outlet’s quarterly revenue was up 10.8% on a year-over-year basis.

Wall Street Analyst Weigh In

Several research firms recently weighed in on OLLI. Royal Bank of Canada lifted their price target on Ollie’s Bargain Outlet from $86.00 to $101.00 and gave the company an “outperform” rating in a research report on Thursday. JPMorgan Chase & Co. upped their target price on shares of Ollie’s Bargain Outlet from $85.00 to $89.00 and gave the stock a “neutral” rating in a research report on Thursday. The Goldman Sachs Group lifted their price target 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, March 21st. Wells Fargo & Company upped their price objective on shares of Ollie’s Bargain Outlet from $85.00 to $100.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Bank of America lifted their target price on shares of Ollie’s Bargain Outlet from $92.00 to $102.00 and gave the company a “buy” rating in a report on Thursday. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $94.67.

Get Our Latest Stock Analysis on OLLI

Insider Transactions at Ollie’s Bargain Outlet

In related news, SVP Kevin Mclain sold 11,340 shares of Ollie’s Bargain Outlet stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $85.75, for a total value of $972,405.00. Following the completion of the sale, the senior vice president now directly owns 10,610 shares in the company, valued at approximately $909,807.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, SVP Kevin Mclain sold 11,340 shares of the firm’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $85.75, for a total value of $972,405.00. Following the sale, the senior vice president now owns 10,610 shares in the company, valued at $909,807.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Robert F. Helm sold 2,317 shares of Ollie’s Bargain Outlet stock in a transaction that occurred on Monday, March 25th. The stock was 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 of the company’s stock, valued at approximately $138,854.78. The disclosure for this sale can be found here. Insiders sold 33,881 shares of company stock worth $2,674,393 over the last quarter. 0.87% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of OLLI. Vanguard Group Inc. lifted its stake in shares of Ollie’s Bargain Outlet by 6.2% in the 1st quarter. Vanguard Group Inc. now owns 5,882,908 shares of the company’s stock worth $468,103,000 after purchasing an additional 343,903 shares during the period. Wasatch Advisors LP raised its position in Ollie’s Bargain Outlet by 4.1% in the first quarter. Wasatch Advisors LP now owns 3,917,575 shares of the company’s stock worth $311,721,000 after acquiring an additional 156,095 shares during the period. Capital Research Global Investors purchased a new position in shares of Ollie’s Bargain Outlet during the 1st quarter worth $136,978,000. Wellington Management Group LLP grew its position in shares of Ollie’s Bargain Outlet by 141.5% during the 3rd quarter. Wellington Management Group LLP now owns 1,075,882 shares of the company’s stock valued at $83,037,000 after acquiring an additional 630,298 shares during the period. Finally, Geneva Capital Management LLC increased its stake in shares of Ollie’s Bargain Outlet by 0.4% in the 4th quarter. Geneva Capital Management LLC now owns 1,037,404 shares of the company’s stock worth $78,729,000 after purchasing an additional 4,523 shares in the last quarter.

Ollie’s Bargain Outlet Stock Performance

The company 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. The stock has a fifty day moving average of $75.46 and a 200 day moving average of $75.22.

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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