Ollie's Bargain Outlet (NASDAQ:OLLI) Hits New 1-Year High - Here's Why

Key Points

• Ollie's Bargain Outlet shares reached a new 52-week high of $140.25, with a recent trading price of $139.97 and a volume of 341,715 shares.
• Analysts have rated Ollie's stock with a consensus of "Moderate Buy," with price targets ranging from $126 to $159, reflecting strong confidence in its performance.
• For Q1, Ollie's reported earnings of $0.75 per share, exceeding expectations, alongside a 13.4% increase in revenue compared to the same quarter last year.

Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI - Get Free Report) shares hit a new 52-week high during trading on Monday . The stock traded as high as $140.25 and last traded at $139.97, with a volume of 341715 shares traded. The stock had previously closed at $138.04.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on OLLI shares. Truist Financial lifted their target price on shares of Ollie's Bargain Outlet from $126.00 to $128.00 and gave the company a "buy" rating in a research report on Wednesday, June 4th. Wall Street Zen raised shares of Ollie's Bargain Outlet from a "sell" rating to a "hold" rating in a research note on Tuesday, May 13th. KeyCorp set a $145.00 price target on shares of Ollie's Bargain Outlet and gave the company an "overweight" rating in a report on Thursday, June 26th. JPMorgan Chase & Co. upped their price target on shares of Ollie's Bargain Outlet from $137.00 to $159.00 and gave the stock an "overweight" rating in a research report on Monday, July 21st. Finally, Loop Capital lowered shares of Ollie's Bargain Outlet from a "buy" rating to a "hold" rating and set a $130.00 price target on the stock. in a research report on Tuesday, June 24th. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $126.79.

Ollie's Bargain Outlet Stock Performance

The stock's fifty day moving average price is $125.13 and its 200-day moving average price is $114.29. The company has a market capitalization of $8.60 billion, a P/E ratio of 43.12, a PEG ratio of 3.10 and a beta of 0.40.

Ollie's Bargain Outlet (NASDAQ:OLLI - Get Free Report) last issued its quarterly earnings data on Tuesday, June 3rd. The company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.70 by $0.05. The business had revenue of $576.77 million during the quarter, compared to the consensus estimate of $565.04 million. Ollie's Bargain Outlet had a net margin of 8.59% and a return on equity of 12.27%. The firm's revenue was up 13.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.73 EPS. On average, research analysts predict that Ollie's Bargain Outlet Holdings, Inc. will post 3.29 EPS for the current fiscal year.

Insider Buying and Selling at Ollie's Bargain Outlet

In related news, CEO Der Valk Eric Van sold 728 shares of the firm's stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $112.85, for a total transaction of $82,154.80. Following the transaction, the chief executive officer directly owned 7,761 shares in the company, valued at $875,828.85. This trade represents a 8.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.87% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. HM Payson & Co. bought a new stake in Ollie's Bargain Outlet during the first quarter valued at about $30,000. City Holding Co. purchased a new stake in shares of Ollie's Bargain Outlet during the first quarter worth about $31,000. Putney Financial Group LLC bought a new stake in Ollie's Bargain Outlet during the 4th quarter valued at approximately $33,000. Assetmark Inc. raised its stake in Ollie's Bargain Outlet by 44.8% during the 2nd quarter. Assetmark Inc. now owns 265 shares of the company's stock valued at $35,000 after purchasing an additional 82 shares during the period. Finally, Maseco LLP bought a new stake in Ollie's Bargain Outlet during the 2nd quarter valued at approximately $36,000.

About Ollie's Bargain Outlet

Ollie's Bargain Outlet Holdings, Inc is a holding company, which engages in the retail of closeouts, excess inventory, and salvage merchandise. It offers overstocks, package changes, manufacturer refurbished goods, and irregulars. The company's products include housewares, food, books and stationery, bed and bath, floor coverings, electronics and toys.

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