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

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

Wall Street Analyst Weigh In

A number of analysts recently commented on OLLI shares. Piper Sandler reaffirmed an "overweight" rating and issued a $123.00 price target (down previously from $124.00) on shares of Ollie's Bargain Outlet in a research note on Wednesday, June 4th. UBS Group raised their target price 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. KeyCorp reiterated an "overweight" rating and set a $135.00 price target on shares of Ollie's Bargain Outlet in a research report on Wednesday, June 4th. Wall Street Zen upgraded shares of Ollie's Bargain Outlet from a "sell" rating to a "hold" rating in a report on Tuesday, May 13th. Finally, Royal Bank Of Canada reiterated an "outperform" rating and set a $133.00 target price on shares of Ollie's Bargain Outlet in a report on Wednesday, June 4th. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $124.50.

Ollie's Bargain Outlet Stock Performance

The firm has a market cap of $7.95 billion, a PE ratio of 39.86, a price-to-earnings-growth ratio of 2.74 and a beta of 0.37. The stock has a 50-day simple moving average of $113.08 and a two-hundred day simple moving average of $109.84.

Ollie's Bargain Outlet (NASDAQ:OLLI - Get Free Report) last issued its 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 for the quarter, compared to analysts' expectations 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 quarterly revenue was up 13.4% on a year-over-year basis. During the same quarter last year, the company posted $0.73 earnings per share. As a group, sell-side analysts anticipate that Ollie's Bargain Outlet Holdings, Inc. will post 3.29 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Robert F. Helm sold 312 shares of the business's stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $107.17, for a total value of $33,437.04. Following the transaction, the chief financial officer now directly owns 3,273 shares in the company, valued at $350,767.41. The trade was a 8.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman John W. Swygert sold 6,526 shares of Ollie's Bargain Outlet stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $107.87, for a total value of $703,959.62. Following the sale, the chairman now directly owns 53,432 shares in the company, valued at $5,763,709.84. This trade represents a 10.88% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 30,230 shares of company stock valued at $3,401,892. Insiders own 0.87% of the company's stock.

Hedge Funds Weigh In On Ollie's Bargain Outlet

Several hedge funds have recently modified their holdings of the stock. Corient Private Wealth LLC boosted its stake in Ollie's Bargain Outlet by 86.2% during the fourth quarter. Corient Private Wealth LLC now owns 8,438 shares of the company's stock valued at $926,000 after buying an additional 3,906 shares during the last quarter. Next Century Growth Investors LLC boosted its position in shares of Ollie's Bargain Outlet by 27.6% during the 4th quarter. Next Century Growth Investors LLC now owns 162,136 shares of the company's stock valued at $17,791,000 after acquiring an additional 35,075 shares during the last quarter. Caxton Associates LP bought a new position in shares of Ollie's Bargain Outlet during the 4th quarter valued at approximately $438,000. Schonfeld Strategic Advisors LLC grew its holdings in shares of Ollie's Bargain Outlet by 85.2% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 5,800 shares of the company's stock valued at $636,000 after purchasing an additional 2,668 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in Ollie's Bargain Outlet by 130.5% in the fourth quarter. JPMorgan Chase & Co. now owns 436,366 shares of the company's stock worth $47,882,000 after purchasing an additional 247,065 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.