Ollie's Bargain Outlet (NASDAQ:OLLI) Sets New 1-Year High - Should You Buy?

Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI - Get Free Report) shares reached a new 52-week high during mid-day trading on Friday . The company traded as high as $122.16 and last traded at $121.82, with a volume of 1114653 shares changing hands. The stock had previously closed at $120.32.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on OLLI shares. Morgan Stanley lifted their price target on Ollie's Bargain Outlet from $108.00 to $118.00 and gave the company an "equal weight" rating in a report on Thursday, March 20th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $133.00 target price on shares of Ollie's Bargain Outlet in a research note on Wednesday, June 4th. UBS Group increased their price target on shares of Ollie's Bargain Outlet from $117.00 to $123.00 and gave the stock a "neutral" rating in a research report on Thursday, March 20th. Piper Sandler restated an "overweight" rating and set a $123.00 price target (down from $124.00) on shares of Ollie's Bargain Outlet in a report on Wednesday, June 4th. Finally, KeyCorp reiterated an "overweight" rating and issued a $135.00 price objective on shares of Ollie's Bargain Outlet in a research note on Wednesday, June 4th. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $124.50.

Ollie's Bargain Outlet Price Performance

The stock has a market capitalization of $7.47 billion, a P/E ratio of 37.48, a PEG ratio of 2.74 and a beta of 0.37. The stock's fifty day moving average is $112.81 and its 200-day moving average is $109.59.

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

Insider Buying and Selling at Ollie's Bargain Outlet

In other Ollie's Bargain Outlet news, Chairman John W. Swygert sold 6,526 shares of the firm's stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $107.87, for a total value of $703,959.62. Following the sale, the chairman now owns 53,432 shares of the company's stock, valued at $5,763,709.84. This trade represents a 10.88% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Robert F. Helm sold 2,145 shares of Ollie's Bargain Outlet stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $108.50, for a total value of $232,732.50. Following the completion of the transaction, the chief financial officer now directly owns 3,888 shares in the company, valued at approximately $421,848. This represents a 35.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 38,625 shares of company stock worth $4,310,125 over the last 90 days. Insiders own 0.75% of the company's stock.

Institutional Investors Weigh In On Ollie's Bargain Outlet

Several hedge funds have recently modified their holdings of OLLI. Kayne Anderson Rudnick Investment Management LLC raised its stake in Ollie's Bargain Outlet by 173.8% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,644,774 shares of the company's stock valued at $509,671,000 after purchasing an additional 2,948,393 shares during the last quarter. Norges Bank bought a new position in shares of Ollie's Bargain Outlet during the 4th quarter worth about $80,741,000. Wellington Management Group LLP raised its position in shares of Ollie's Bargain Outlet by 268.0% during the first quarter. Wellington Management Group LLP now owns 844,799 shares of the company's stock valued at $98,301,000 after buying an additional 615,257 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in shares of Ollie's Bargain Outlet by 130.3% in the first quarter. Ameriprise Financial Inc. now owns 828,743 shares of the company's stock valued at $96,428,000 after buying an additional 468,944 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in Ollie's Bargain Outlet during the fourth quarter worth about $48,633,000.

Ollie's Bargain Outlet Company Profile

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.