Ollie’s Bargain Outlet (NASDAQ:OLLI) Releases Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Ollie’s Bargain Outlet (NASDAQ:OLLI) posted its quarterly earnings data 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 business had revenue of $517.43 million during the quarter, compared to analyst estimates of $518.83 million. During the same period last year, the company earned $0.51 EPS. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. 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 Price Performance

OLLI traded up $13.35 on Tuesday, reaching $111.40. 482,069 shares of the stock were exchanged, compared to its average volume of 1,030,339. The company’s 50-day moving average price is $94.99 and its 200 day moving average price is $94.47. Ollie’s Bargain Outlet has a fifty-two week low of $68.05 and a fifty-two week high of $111.86. The firm has a market capitalization of $6.83 billion, a PE ratio of 29.89, a PEG ratio of 2.53 and a beta of 0.85.

Analysts Set New Price Targets

Several brokerages have recently weighed in on OLLI. Loop Capital reiterated a “buy” rating and issued a $110.00 price target on shares of Ollie’s Bargain Outlet in a report on Friday, September 20th. 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 report on Friday, August 30th. Wells Fargo & Company downgraded Ollie’s Bargain Outlet from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $100.00 to $95.00 in a report on Tuesday, December 3rd. Gordon Haskett upgraded Ollie’s Bargain Outlet from an “accumulate” rating to a “buy” rating and raised their price objective for the stock from $105.00 to $107.00 in a report on Monday, August 26th. Finally, Bank of America raised their price objective on Ollie’s Bargain Outlet from $102.00 to $115.00 and gave the stock a “buy” rating in a report on Monday, September 30th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Ollie’s Bargain Outlet has a consensus rating of “Moderate Buy” and a consensus target price of $104.50.

Insiders Place Their Bets

In other news, CEO John W. Swygert sold 4,800 shares of the company’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $102.60, for a total transaction of $492,480.00. Following the completion of the sale, the chief executive officer now owns 48,200 shares of the company’s stock, valued at $4,945,320. This represents a 9.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Der Valk Eric Van sold 7,479 shares of the business’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $100.32, for a total value of $750,293.28. Following the transaction, the president now directly owns 5,615 shares in the company, valued at $563,296.80. This trade represents a 57.12 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 33,712 shares of company stock valued at $3,368,270. 0.87% of the stock is owned by company insiders.

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.