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

Key Points

• Ollie’s Bargain Outlet exceeded earnings expectations, reporting quarterly EPS of $1.42 versus the $1.12 consensus estimate. Revenue increased 9.1% year over year, while EPS rose from $0.99 in the prior-year period.
• Despite the strong results, shares fell 4.1% and opened at $72.34, near their 52-week low compared with a high of $139.21.
• Analysts remain generally positive, with a consensus rating of “Moderate Buy” from 13 Buy and four Hold ratings, though several firms recently lowered their price targets; the consensus target is $107.29.

Ollie's Bargain Outlet (NASDAQ:OLLI - Get Free Report) announced its earnings results on Wednesday. The company reported $1.42 EPS for the quarter, topping the consensus estimate of $1.12 by $0.30, Briefing.com reports. Ollie's Bargain Outlet had a net margin of 9.13% and a return on equity of 13.43%. The business's quarterly revenue was up 9.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.99 earnings per share.

Ollie's Bargain Outlet Trading Down 4.1%

Shares of NASDAQ OLLI opened at $72.34 on Wednesday. The firm has a market capitalization of $4.37 billion, a price-to-earnings ratio of 17.86, a PEG ratio of 1.33 and a beta of 0.50. Ollie's Bargain Outlet has a one year low of $60.29 and a one year high of $139.21. The business has a fifty day simple moving average of $72.24 and a 200 day simple moving average of $84.76.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on OLLI shares. The Goldman Sachs Group decreased their price objective on shares of Ollie's Bargain Outlet from $129.00 to $112.00 and set a "buy" rating for the company in a research note on Monday, June 29th. Gordon Haskett reiterated an "accumulate" rating and issued a $90.00 target price (down from $100.00) on shares of Ollie's Bargain Outlet in a report on Thursday, June 4th. Wells Fargo & Company decreased their price target on shares of Ollie's Bargain Outlet from $115.00 to $100.00 and set an "overweight" rating for the company in a report on Monday, August 17th. Weiss Ratings downgraded shares of Ollie's Bargain Outlet from a "hold (c)" rating to a "hold (c-)" rating in a research report on Thursday, July 16th. Finally, Truist Financial lowered their price target on shares of Ollie's Bargain Outlet from $112.00 to $80.00 and set a "buy" rating on the stock in a report on Thursday, July 9th. Thirteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, Ollie's Bargain Outlet has a consensus rating of "Moderate Buy" and a consensus target price of $107.29.

Institutional Trading of Ollie's Bargain Outlet

Several hedge funds have recently modified their holdings of the company. Allworth Financial LP raised its holdings in Ollie's Bargain Outlet by 301.8% during the 3rd quarter. Allworth Financial LP now owns 221 shares of the company's stock worth $28,000 after purchasing an additional 166 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its position in shares of Ollie's Bargain Outlet by 49.2% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 279 shares of the company's stock worth $31,000 after buying an additional 92 shares during the period. Quarry LP acquired a new stake in shares of Ollie's Bargain Outlet during the third quarter worth $55,000. Johnson Financial Group Inc. acquired a new position in shares of Ollie's Bargain Outlet during the 3rd quarter worth about $62,000. Finally, Danske Bank A S bought a new stake in Ollie's Bargain Outlet in the third quarter valued at approximately $64,000.

Ollie's Bargain Outlet Company Profile

Ollie's Bargain Outlet is an American discount retailer specializing in closeout merchandise and surplus inventory across a broad range of categories. The company operates a no-frills retail format that offers branded and private-label products at significant markdowns. Its merchandise mix typically includes housewares, electronics, health and beauty items, food products, beauty supplies, books, toys, and seasonal goods.

Founded in 1982 by Oliver E. “Ollie” Rosenberg, the company is headquartered in Harrisburg, Pennsylvania.

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