Ollie's Bargain Outlet (NASDAQ:OLLI) Shares Gap Up After 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 share price gapped up before the market opened on Thursday after the company announced better than expected quarterly earnings. 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 traded.

The company reported $0.99 earnings per share for the quarter, beating analysts' consensus estimates of $0.91 by $0.08. The company had revenue of $679.56 million for the quarter, compared to analyst estimates of $658.03 million. Ollie's Bargain Outlet had a return on equity of 12.66% and a net margin of 8.74%.The firm's revenue for the quarter was up 17.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.78 EPS. Ollie's Bargain Outlet has set its FY 2025 guidance at 3.760-3.840 EPS.

Analysts Set New Price Targets

A number of research firms have weighed in on OLLI. 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. Wells Fargo & Company lifted their price target on shares of Ollie's Bargain Outlet from $105.00 to $130.00 and gave the stock an "equal weight" rating in a research report on Friday. Jefferies Financial Group lifted their price objective on shares of Ollie's Bargain Outlet from $111.00 to $135.00 and gave the stock a "hold" rating in a research report on Friday. JPMorgan Chase & Co. boosted their price target on shares of Ollie's Bargain Outlet from $137.00 to $159.00 and gave the company an "overweight" rating in a 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 objective for the company. in a research note on Tuesday, June 24th. Eight equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $143.46.

Insider Activity at Ollie's Bargain Outlet

In other Ollie's Bargain Outlet news, CEO Der Valk Eric Van sold 728 shares of Ollie's Bargain Outlet 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 sale, the chief executive officer directly owned 7,761 shares in the company, valued at approximately $875,828.85. The trade was a 8.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.87% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Ollie's Bargain Outlet

Institutional investors have recently added to or reduced their stakes in the stock. HM Payson & Co. bought a new stake in shares of Ollie's Bargain Outlet in the 1st quarter valued at $30,000. City Holding Co. purchased a new position in shares of Ollie's Bargain Outlet in the first quarter worth about $31,000. Putney Financial Group LLC bought a new position in shares of Ollie's Bargain Outlet in the fourth quarter valued at approximately $33,000. Assetmark Inc. lifted its holdings in shares of Ollie's Bargain Outlet by 44.8% in the 2nd quarter. Assetmark Inc. now owns 265 shares of the company's stock worth $35,000 after acquiring an additional 82 shares during the last quarter. Finally, Maseco LLP purchased a new position in shares of Ollie's Bargain Outlet in the second quarter worth $36,000.

Ollie's Bargain Outlet Stock Performance

The stock's 50-day simple moving average is $132.72 and its 200-day simple moving average is $117.96. The firm has a market capitalization of $7.71 billion, a PE ratio of 36.47, a P/E/G ratio of 2.61 and a beta of 0.45.

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.