Ollie's Bargain Outlet's (OLLI) "Buy (B)" Rating Reaffirmed at Weiss Ratings

Key Points

• Ollie's Bargain Outlet's stock has received a "buy (B)" rating from Weiss Ratings, reaffirming positive analyst sentiment amidst mixed reviews from other brokerages.
• The company reported a quarterly earnings per share of $0.99, exceeding expectations and reflecting a 17.5% year-on-year revenue increase to $679.56 million.
• Insider activity showed significant sales, with the chairman reducing his stake by nearly 69%, indicating potential changes in management sentiment or strategy.

Ollie's Bargain Outlet (NASDAQ:OLLI - Get Free Report)'s stock had its "buy (b)" rating reissued by equities research analysts at Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

A number of other brokerages have also recently weighed in on OLLI. Loop Capital cut 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. JPMorgan Chase & Co. boosted their price objective on Ollie's Bargain Outlet from $137.00 to $159.00 and gave the company an "overweight" rating in a research note on Monday, July 21st. Craig Hallum set a $156.00 target price on Ollie's Bargain Outlet in a report on Friday, August 29th. Wells Fargo & Company boosted their target price on Ollie's Bargain Outlet from $105.00 to $130.00 and gave the company an "equal weight" rating in a report on Friday, August 29th. Finally, Truist Financial boosted their target price on Ollie's Bargain Outlet from $146.00 to $148.00 and gave the company a "buy" rating in a report on Thursday, August 28th. Nine equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $144.15.

Ollie's Bargain Outlet Trading Up 3.9%

NASDAQ OLLI opened at $127.55 on Wednesday. The stock has a market cap of $7.82 billion, a PE ratio of 36.97, a P/E/G ratio of 2.51 and a beta of 0.42. Ollie's Bargain Outlet has a twelve month low of $86.88 and a twelve month high of $141.74. The stock has a fifty day simple moving average of $132.69 and a 200-day simple moving average of $123.09.

Ollie's Bargain Outlet (NASDAQ:OLLI - Get Free Report) last announced its quarterly earnings data on Thursday, August 28th. The company reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.08. Ollie's Bargain Outlet had a return on equity of 12.66% and a net margin of 8.74%.The business had revenue of $679.56 million during the quarter, compared to analysts' expectations of $658.03 million. During the same quarter last year, the business posted $0.78 EPS. The business's quarterly revenue was up 17.5% compared to the same quarter last year. Ollie's Bargain Outlet has set its FY 2025 guidance at 3.760-3.840 EPS. Research analysts predict that Ollie's Bargain Outlet will post 3.29 EPS for the current year.

Insider Activity

In other news, Chairman John W. Swygert sold 107,058 shares of the company's stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $132.87, for a total transaction of $14,224,796.46. Following the completion of the transaction, the chairman owned 48,200 shares of the company's stock, valued at $6,404,334. This represents a 68.95% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Larry Kraus sold 3,159 shares of the company's stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $131.46, for a total transaction of $415,282.14. Following the transaction, the senior vice president directly owned 3,679 shares of the company's stock, valued at approximately $483,641.34. This represents a 46.20% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 116,334 shares of company stock worth $15,444,369. Company insiders own 0.75% of the company's stock.

Hedge Funds Weigh In On Ollie's Bargain Outlet

Several institutional investors and hedge funds have recently made changes to their positions in OLLI. Invesco Ltd. boosted its stake in shares of Ollie's Bargain Outlet by 55.5% during the 2nd quarter. Invesco Ltd. now owns 2,552,605 shares of the company's stock valued at $336,382,000 after buying an additional 911,364 shares during the last quarter. Hood River Capital Management LLC lifted its stake in Ollie's Bargain Outlet by 165.4% during the second quarter. Hood River Capital Management LLC now owns 1,240,339 shares of the company's stock worth $163,452,000 after purchasing an additional 773,013 shares during the last quarter. Norges Bank bought a new position in Ollie's Bargain Outlet during the second quarter worth $83,622,000. Wellington Management Group LLP lifted its stake in 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 worth $98,301,000 after purchasing an additional 615,257 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its stake in Ollie's Bargain Outlet by 130.3% during the first quarter. Ameriprise Financial Inc. now owns 828,743 shares of the company's stock worth $96,428,000 after purchasing an additional 468,944 shares during the last quarter.

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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