Ollie’s Bargain Outlet (NASDAQ:OLLI) Sets New 1-Year High – Here’s Why

Shares of Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) reached a new 52-week high on Monday . The company traded as high as $116.18 and last traded at $115.46, with a volume of 443516 shares changing hands. The stock had previously closed at $112.77.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Royal Bank of Canada increased their price target on shares of Ollie’s Bargain Outlet from $120.00 to $130.00 and gave the stock an “outperform” rating in a report on Wednesday, December 11th. Truist Financial boosted their price target on shares of Ollie’s Bargain Outlet from $109.00 to $121.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. UBS Group increased their price objective on Ollie’s Bargain Outlet from $97.00 to $99.00 and gave the stock a “neutral” rating in a research report on Friday, August 30th. Craig Hallum boosted their target price on Ollie’s Bargain Outlet from $107.00 to $130.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Finally, JPMorgan Chase & Co. raised their price target on Ollie’s Bargain Outlet from $105.00 to $135.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, three have given a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $117.85.

Ollie’s Bargain Outlet Trading Down 0.4 %

The company’s fifty day moving average is $97.09 and its 200 day moving average is $95.87. The company has a market cap of $7.02 billion, a P/E ratio of 34.18, a price-to-earnings-growth ratio of 2.79 and a beta of 0.85.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last released its quarterly earnings data on Tuesday, December 10th. The company reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.01. Ollie’s Bargain Outlet had a return on equity of 13.15% and a net margin of 9.22%. The firm had revenue of $517.43 million during the quarter, compared to analyst estimates of $518.83 million. During the same quarter in the prior year, the firm posted $0.51 earnings per share. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. Analysts anticipate that Ollie’s Bargain Outlet Holdings, Inc. will post 3.29 EPS for the current year.

Insider Activity

In other Ollie’s Bargain Outlet news, SVP Larry Kraus sold 10,646 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $115.58, for a total value of $1,230,464.68. Following the completion of the transaction, the senior vice president now owns 1,905 shares in the company, valued at approximately $220,179.90. This represents a 84.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, President Der Valk Eric Van sold 7,479 shares of the business’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $100.32, for a total transaction of $750,293.28. Following the sale, the president now directly owns 5,615 shares in the company, valued at $563,296.80. The trade was a 57.12 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 97,651 shares of company stock valued at $10,628,452. Company insiders own 0.87% of the company’s stock.

Institutional Trading of Ollie’s Bargain Outlet

Institutional investors and hedge funds have recently bought and sold shares of the company. State Street Corp boosted its holdings in shares of Ollie’s Bargain Outlet by 2.1% during the 3rd quarter. State Street Corp now owns 1,871,047 shares of the company’s stock valued at $181,866,000 after acquiring an additional 38,203 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Ollie’s Bargain Outlet by 0.9% in the third quarter. Geode Capital Management LLC now owns 1,078,544 shares of the company’s stock worth $104,860,000 after buying an additional 9,492 shares during the period. Geneva Capital Management LLC lifted its holdings in Ollie’s Bargain Outlet by 1.3% during the third quarter. Geneva Capital Management LLC now owns 1,050,469 shares of the company’s stock valued at $102,106,000 after purchasing an additional 13,369 shares in the last quarter. American Century Companies Inc. lifted its stake in shares of Ollie’s Bargain Outlet by 5.6% during the 2nd quarter. American Century Companies Inc. now owns 780,064 shares of the company’s stock valued at $76,579,000 after buying an additional 41,605 shares in the last quarter. Finally, Fred Alger Management LLC lifted its position in shares of Ollie’s Bargain Outlet by 12.1% in the third quarter. Fred Alger Management LLC now owns 772,145 shares of the company’s stock valued at $75,052,000 after acquiring an additional 83,063 shares in the last quarter.

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.