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

Ollie’s Bargain Outlet (NASDAQ:OLLI) issued its earnings results on Tuesday. The company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.01, Briefing.com reports. The business had revenue of $517.43 million during the quarter, compared to analysts’ expectations of $518.83 million. Ollie’s Bargain Outlet had a return on equity of 13.27% and a net margin of 9.19%. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.51 EPS. 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

Ollie’s Bargain Outlet stock opened at $113.51 on Thursday. Ollie’s Bargain Outlet has a fifty-two week low of $68.05 and a fifty-two week high of $115.98. The company has a market cap of $6.96 billion, a PE ratio of 34.61, a PEG ratio of 2.53 and a beta of 0.85. The business’s 50-day simple moving average is $95.64 and its two-hundred day simple moving average is $94.83.

Insider Buying and Selling

In other Ollie’s Bargain Outlet news, CEO John W. Swygert sold 2,400 shares of Ollie’s Bargain Outlet stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $102.54, for a total transaction of $246,096.00. Following the completion of the transaction, the chief executive officer now owns 48,200 shares in the company, valued at approximately $4,942,428. This trade represents a 4.74 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Robert F. Helm sold 2,401 shares of the company’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 completion of the sale, the chief financial officer now owns 2,021 shares in the company, valued at $191,348.28. The trade was a 54.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 36,112 shares of company stock valued at $3,614,366 over the last quarter. 0.87% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Gordon Haskett raised 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 lowered shares of Ollie’s Bargain Outlet from a “hold” rating to a “sell” rating in a report on Tuesday, October 22nd. Truist Financial upped their target price on Ollie’s Bargain Outlet from $109.00 to $121.00 and gave the stock a “buy” rating in a report on Wednesday. Piper Sandler boosted their price target on Ollie’s Bargain Outlet from $107.00 to $126.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, Bank of America upped their price objective on Ollie’s Bargain Outlet from $115.00 to $130.00 and gave the stock a “buy” rating in a research note on Wednesday. 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $116.58.

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.