Ollie’s Bargain Outlet (NASDAQ:OLLI) Announces Earnings Results, Beats Expectations By $0.30 EPS

Ollie’s Bargain Outlet (NASDAQ:OLLI) announced its quarterly earnings data on Wednesday. The company reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.30, Briefing.com reports. Ollie’s Bargain Outlet had a return on equity of 13.43% and a net margin of 9.13%.The firm’s revenue was up 9.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.99 EPS.

Ollie’s Bargain Outlet Stock Down 4.1%

Shares of NASDAQ OLLI opened at $72.34 on Wednesday. Ollie’s Bargain Outlet has a 52 week low of $60.29 and a 52 week high of $139.21. The company has a market cap of $4.37 billion, a P/E ratio of 17.86, a P/E/G ratio of 1.33 and a beta of 0.50. The business has a 50-day simple moving average of $72.24 and a two-hundred day simple moving average of $84.76.

Institutional Investors Weigh In On Ollie’s Bargain Outlet

Several large investors have recently made changes to their positions in OLLI. Wasatch Advisors LP lifted its holdings in Ollie’s Bargain Outlet by 1.2% during the second quarter. Wasatch Advisors LP now owns 4,062,147 shares of the company’s stock worth $535,310,000 after buying an additional 49,603 shares during the period. Invesco Ltd. increased its position in Ollie’s Bargain Outlet by 17.2% during the third quarter. Invesco Ltd. now owns 2,992,848 shares of the company’s stock worth $384,282,000 after purchasing an additional 440,243 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Ollie’s Bargain Outlet by 3.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,199,525 shares of the company’s stock valued at $131,478,000 after buying an additional 34,702 shares in the last quarter. Ameriprise Financial Inc. increased its position in shares of Ollie’s Bargain Outlet by 15.2% during the third quarter. Ameriprise Financial Inc. now owns 1,095,419 shares of the company’s stock worth $140,654,000 after acquiring an additional 144,649 shares during the period. Finally, Balyasny Asset Management L.P. acquired a new stake in shares of Ollie’s Bargain Outlet in the 3rd quarter valued at $136,152,000.

Wall Street Analysts Forecast Growth

A number of research firms have commented on OLLI. Royal Bank Of Canada reiterated an “outperform” rating and issued a $121.00 price target on shares of Ollie’s Bargain Outlet in a research note on Tuesday, August 25th. Gordon Haskett restated an “accumulate” rating and issued a $90.00 price target (down from $100.00) on shares of Ollie’s Bargain Outlet in a research note on Thursday, June 4th. Piper Sandler lowered their price target on shares of Ollie’s Bargain Outlet from $114.00 to $113.00 and set an “overweight” rating for the company in a report on Tuesday, August 18th. Truist Financial decreased their price target on shares of Ollie’s Bargain Outlet from $112.00 to $80.00 and set a “buy” rating for the company in a research report on Thursday, July 9th. Finally, Morgan Stanley lowered their price target on Ollie’s Bargain Outlet from $120.00 to $108.00 and set an “equal weight” rating for the company in a report on Thursday, June 4th. Thirteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $107.29.

About Ollie’s Bargain Outlet

Ollie’s Bargain Outlet is an American discount retailer specializing in closeout merchandise and surplus inventory across a broad range of categories. The company operates a no-frills retail format that offers branded and private-label products at significant markdowns. Its merchandise mix typically includes housewares, electronics, health and beauty items, food products, beauty supplies, books, toys, and seasonal goods.

Founded in 1982 by Oliver E. “Ollie” Rosenberg, the company is headquartered in Harrisburg, Pennsylvania.