Ollie’s Bargain Outlet (NASDAQ:OLLI) Updates FY 2024 Earnings Guidance

Ollie’s Bargain Outlet (NASDAQ:OLLI) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 3.220-3.300 for the period, compared to the consensus earnings per share estimate of 3.270. The company issued revenue guidance of $2.3 billion-$2.3 billion, compared to the consensus revenue estimate of $2.3 billion. Ollie’s Bargain Outlet also updated its FY25 guidance to $3.22-3.30 EPS.

Ollie’s Bargain Outlet Price Performance

OLLI stock opened at $98.05 on Tuesday. The company has a 50-day moving average of $94.99 and a two-hundred day moving average of $94.47. The stock has a market capitalization of $6.02 billion, a price-to-earnings ratio of 29.89, a price-to-earnings-growth ratio of 2.53 and a beta of 0.85. Ollie’s Bargain Outlet has a 52-week low of $68.05 and a 52-week high of $104.98.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on OLLI shares. Loop Capital reaffirmed a “buy” rating and issued a $110.00 target price on shares of Ollie’s Bargain Outlet in a report on Friday, September 20th. Wells Fargo & Company lowered shares of Ollie’s Bargain Outlet from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $100.00 to $95.00 in a research report on Tuesday, December 3rd. Royal Bank of Canada increased their target price on shares of Ollie’s Bargain Outlet from $100.00 to $106.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. Bank of America boosted their price target on shares of Ollie’s Bargain Outlet from $102.00 to $115.00 and gave the company a “buy” rating in a report on Monday, September 30th. Finally, StockNews.com lowered Ollie’s Bargain Outlet from a “hold” rating to a “sell” rating in a research note on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $104.50.

Insiders Place Their Bets

In related news, CFO Robert F. Helm sold 2,401 shares of the firm’s stock in a transaction dated Thursday, October 17th. The stock was sold at an average price of $94.68, for a total value of $227,326.68. Following the transaction, the chief financial officer now owns 2,021 shares in the company, valued at $191,348.28. This trade represents a 54.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Kevin Mclain sold 15,000 shares of the business’s 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 sale, the senior vice president now directly owns 10,610 shares of the company’s stock, valued at $1,050,283.90. This represents a 58.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 33,712 shares of company stock valued at $3,368,270. Insiders own 0.87% of the company’s stock.

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.