Ollie's Bargain Outlet (NASDAQ:OLLI) Hits New 1-Year High - What's Next?

Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI - Get Free Report)'s share price reached a new 52-week high during trading on Thursday . The company traded as high as $132.22 and last traded at $131.47, with a volume of 1260221 shares. The stock had previously closed at $129.55.

Analyst Upgrades and Downgrades

A number of research firms have commented on OLLI. JPMorgan Chase & Co. raised their price objective on Ollie's Bargain Outlet from $135.00 to $137.00 and gave the stock an "overweight" rating in a research note on Monday, May 19th. UBS Group raised their price objective on Ollie's Bargain Outlet from $117.00 to $123.00 and gave the stock a "neutral" rating in a research note on Thursday, March 20th. Wall Street Zen upgraded Ollie's Bargain Outlet from a "sell" rating to a "hold" rating in a research note on Tuesday, May 13th. Piper Sandler restated an "overweight" rating and set a $123.00 price objective (down previously from $124.00) on shares of Ollie's Bargain Outlet in a research note on Wednesday, June 4th. Finally, Royal Bank Of Canada reissued an "outperform" rating and issued a $133.00 target price on shares of Ollie's Bargain Outlet in a report on Wednesday, June 4th. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat, Ollie's Bargain Outlet currently has an average rating of "Moderate Buy" and an average target price of $125.21.

Ollie's Bargain Outlet Stock Performance

The stock has a market capitalization of $8.15 billion, a P/E ratio of 40.86, a price-to-earnings-growth ratio of 2.99 and a beta of 0.37. The firm's fifty day simple moving average is $114.66 and its 200 day simple moving average is $110.50.

Ollie's Bargain Outlet (NASDAQ:OLLI - Get Free Report) last announced its quarterly earnings results on Tuesday, June 3rd. The company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.05. The company had revenue of $576.77 million for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the previous year, the firm posted $0.73 EPS. Analysts anticipate that Ollie's Bargain Outlet Holdings, Inc. will post 3.29 earnings per share for the current fiscal year.

Insider Activity at Ollie's Bargain Outlet

In related news, CEO Der Valk Eric Van sold 1,153 shares of Ollie's Bargain Outlet stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $110.85, for a total transaction of $127,810.05. Following the sale, the chief executive officer now directly owns 6,768 shares of the company's stock, valued at approximately $750,232.80. The trade was a 14.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP James J. Comitale sold 5,485 shares of Ollie's Bargain Outlet stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $113.53, for a total transaction of $622,712.05. Following the sale, the senior vice president now directly owns 4,621 shares in the company, valued at $524,622.13. This trade represents a 54.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,472 shares of company stock valued at $2,109,280. 0.87% of the stock is owned by insiders.

Institutional Investors Weigh In On Ollie's Bargain Outlet

A number of institutional investors have recently added to or reduced their stakes in OLLI. Advisor OS LLC bought a new stake in Ollie's Bargain Outlet during the 4th quarter worth approximately $213,000. NewEdge Wealth LLC bought a new stake in Ollie's Bargain Outlet during the 4th quarter worth approximately $3,570,000. Oppenheimer Asset Management Inc. grew its holdings in Ollie's Bargain Outlet by 43.9% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 57,106 shares of the company's stock worth $6,266,000 after acquiring an additional 17,433 shares during the last quarter. Versor Investments LP bought a new stake in Ollie's Bargain Outlet during the 4th quarter worth approximately $463,000. Finally, US Bancorp DE grew its holdings in Ollie's Bargain Outlet by 38.6% during the 4th quarter. US Bancorp DE now owns 41,608 shares of the company's stock worth $4,566,000 after acquiring an additional 11,587 shares during the last quarter.

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.