Ollie's Bargain Outlet (NASDAQ:OLLI) Shares Gap Up Following Better-Than-Expected Earnings

Key Points

• Ollie's Bargain Outlet shares experienced a significant increase, opening at $138.69 after a strong earnings report, compared to a previous close of $130.60.
• The company reported earnings of $0.99 per share, outperforming analysts' expectations of $0.91, and saw a revenue increase of 17.5% year-over-year.
• JPMorgan Chase upgraded the stock's price target from $137.00 to $159.00 while maintaining an "overweight" rating, reflecting positive analyst sentiment toward the company.

Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI - Get Free Report)'s stock price gapped up before the market opened on Thursday following a stronger than expected earnings report. The stock had previously closed at $130.60, but opened at $138.69. Ollie's Bargain Outlet shares last traded at $128.90, with a volume of 764,934 shares trading hands.

The company reported $0.99 EPS for the quarter, beating analysts' consensus estimates of $0.91 by $0.08. Ollie's Bargain Outlet had a net margin of 8.59% and a return on equity of 12.27%. During the same period in the prior year, the firm posted $0.78 EPS. The business's revenue was up 17.5% on a year-over-year basis. Ollie's Bargain Outlet has set its FY 2025 guidance at 3.760-3.840 EPS.

Analyst Upgrades and Downgrades

OLLI has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. increased their price objective on shares of Ollie's Bargain Outlet from $137.00 to $159.00 and gave the company an "overweight" rating in a research report on Monday, July 21st. Loop Capital downgraded shares of Ollie's Bargain Outlet from a "buy" rating to a "hold" rating and set a $130.00 target price on the stock. in a research report on Tuesday, June 24th. Wall Street Zen raised shares of Ollie's Bargain Outlet from a "sell" rating to a "hold" rating in a research report on Tuesday, May 13th. KeyCorp set a $145.00 target price on shares of Ollie's Bargain Outlet and gave the company an "overweight" rating in a research report on Thursday, June 26th. Finally, Piper Sandler increased their target price on shares of Ollie's Bargain Outlet from $123.00 to $150.00 and gave the company an "overweight" rating in a research report on Tuesday, August 19th. Eight investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, Ollie's Bargain Outlet presently has a consensus rating of "Moderate Buy" and an average price target of $132.62.

Insider Transactions at Ollie's Bargain Outlet

In other news, CEO Der Valk Eric Van sold 728 shares of the firm's stock in a transaction on Friday, June 13th. The shares were sold at an average price of $112.85, for a total value of $82,154.80. Following the completion of the sale, the chief executive officer owned 7,761 shares in the company, valued at approximately $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 accessible through this hyperlink. Insiders own 0.75% of the company's stock.

Institutional Trading of Ollie's Bargain Outlet

Several hedge funds have recently made changes to their positions in the company. Wasatch Advisors LP lifted its stake in shares of Ollie's Bargain Outlet by 1.2% in the 2nd quarter. Wasatch Advisors LP now owns 4,062,147 shares of the company's stock worth $535,310,000 after acquiring an additional 49,603 shares during the period. Invesco Ltd. lifted its stake in shares of Ollie's Bargain Outlet by 55.5% in the 2nd quarter. Invesco Ltd. now owns 2,552,605 shares of the company's stock worth $336,382,000 after acquiring an additional 911,364 shares during the period. Hood River Capital Management LLC lifted its stake in shares of Ollie's Bargain Outlet by 165.4% in the second quarter. Hood River Capital Management LLC now owns 1,240,339 shares of the company's stock valued at $163,452,000 after purchasing an additional 773,013 shares during the period. Geode Capital Management LLC lifted its stake in shares of Ollie's Bargain Outlet by 0.4% in the second quarter. Geode Capital Management LLC now owns 1,140,234 shares of the company's stock valued at $150,284,000 after purchasing an additional 5,000 shares during the period. Finally, Geneva Capital Management LLC lifted its stake in shares of Ollie's Bargain Outlet by 7.6% in the second quarter. Geneva Capital Management LLC now owns 1,129,086 shares of the company's stock valued at $148,791,000 after purchasing an additional 79,627 shares during the period.

Ollie's Bargain Outlet Price Performance

The company's 50 day moving average is $132.45 and its 200 day moving average is $117.29. The stock has a market cap of $7.87 billion, a price-to-earnings ratio of 39.59, a PEG ratio of 2.93 and a beta of 0.40.

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.

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