Ollie’s Bargain Outlet (NASDAQ:OLLI) Releases Earnings Results

Ollie’s Bargain Outlet (NASDAQ:OLLI) issued its quarterly earnings results on Tuesday. The company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.01, Briefing.com reports. 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 for the quarter, compared to analyst estimates of $518.83 million. During the same quarter last year, the company posted $0.51 EPS. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. Ollie’s Bargain Outlet updated its FY 2024 guidance to 3.220-3.300 EPS and its FY25 guidance to $3.22-3.30 EPS.

Ollie’s Bargain Outlet Stock Performance

NASDAQ:OLLI opened at $111.02 on Wednesday. Ollie’s Bargain Outlet has a fifty-two week low of $68.05 and a fifty-two week high of $113.76. The company has a 50 day simple moving average of $95.30 and a two-hundred day simple moving average of $94.70. The company has a market capitalization of $6.81 billion, a PE ratio of 33.85, a P/E/G ratio of 2.53 and a beta of 0.85.

Insider Transactions at Ollie’s Bargain Outlet

In other news, SVP Kevin Mclain sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $98.99, for a total transaction of $1,484,850.00. Following the completion of the sale, the senior vice president now owns 10,610 shares of the company’s stock, valued at $1,050,283.90. This trade represents a 58.57 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Robert F. Helm sold 2,401 shares of Ollie’s Bargain Outlet stock in a transaction on Thursday, October 17th. The shares were sold at an average price of $94.68, for a total transaction of $227,326.68. Following the completion of the sale, the chief financial officer now directly owns 2,021 shares of the company’s stock, valued at approximately $191,348.28. This trade represents a 54.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 36,112 shares of company stock worth $3,614,366. Company insiders own 0.87% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on OLLI shares. Royal Bank of Canada lifted their target price on Ollie’s Bargain Outlet from $100.00 to $106.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. Loop Capital reiterated a “buy” rating and set a $110.00 price objective on shares of Ollie’s Bargain Outlet in a research report on Friday, September 20th. Gordon Haskett upgraded shares of Ollie’s Bargain Outlet from an “accumulate” rating to a “buy” rating and raised their target price for the company from $105.00 to $107.00 in a research report on Monday, August 26th. StockNews.com downgraded Ollie’s Bargain Outlet from a “hold” rating to a “sell” rating in a report on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. reduced their price objective on Ollie’s Bargain Outlet from $113.00 to $105.00 and set an “overweight” rating on the stock in a research report on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $104.50.

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.