Ollie’s Bargain Outlet (NASDAQ:OLLI) Reaches New 1-Year High – Still a Buy?

Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)’s stock price hit a new 52-week high during trading on Friday . The company traded as high as $122.16 and last traded at $121.82, with a volume of 1114653 shares changing hands. The stock had previously closed at $120.32.

Analyst Upgrades and Downgrades

OLLI has been the subject of a number of analyst reports. Morgan Stanley increased their price target on shares of Ollie’s Bargain Outlet from $108.00 to $118.00 and gave the company an “equal weight” rating in a report on Thursday, March 20th. Truist Financial increased their price target on shares of Ollie’s Bargain Outlet from $126.00 to $128.00 and gave the company a “buy” rating in a report on Wednesday, June 4th. KeyCorp reaffirmed an “overweight” rating and issued a $135.00 price target on shares of Ollie’s Bargain Outlet in a report on Wednesday, June 4th. UBS Group increased their price target on shares of Ollie’s Bargain Outlet from $117.00 to $123.00 and gave the company a “neutral” rating in a report on Thursday, March 20th. Finally, JPMorgan Chase & Co. increased their price target on shares of Ollie’s Bargain Outlet from $135.00 to $137.00 and gave the company an “overweight” rating in a report on Monday, May 19th. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $124.50.

Ollie’s Bargain Outlet Price Performance

The firm has a market capitalization of $7.47 billion, a PE ratio of 37.48, a price-to-earnings-growth ratio of 2.71 and a beta of 0.37. The stock’s 50-day moving average price is $112.81 and its 200 day moving average price is $109.52.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last issued its earnings results on Tuesday, June 3rd. The company reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.05. The business had revenue of $576.77 million for the quarter, compared to analyst estimates of $565.04 million. Ollie’s Bargain Outlet had a net margin of 8.59% and a return on equity of 12.27%. The company’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same period last year, the company posted $0.73 earnings per share. Equities research analysts forecast that Ollie’s Bargain Outlet Holdings, Inc. will post 3.29 earnings per share for the current fiscal year.

Insider Activity

In other news, SVP Kevin Mclain sold 4,799 shares of the stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $115.56, for a total transaction of $554,572.44. Following the transaction, the senior vice president now directly owns 12,336 shares in the company, valued at approximately $1,425,548.16. This trade represents a 28.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert Fisch sold 6,250 shares of the stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $108.08, for a total transaction of $675,500.00. Following the transaction, the director now owns 22,159 shares in the company, valued at approximately $2,394,944.72. This represents a 22.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 38,625 shares of company stock worth $4,310,125. Corporate insiders own 0.75% of the company’s stock.

Institutional Trading of Ollie’s Bargain Outlet

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Ollie’s Bargain Outlet by 489.7% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 230 shares of the company’s stock worth $25,000 after purchasing an additional 191 shares in the last quarter. HM Payson & Co. acquired a new stake in shares of Ollie’s Bargain Outlet in the 1st quarter worth $30,000. City Holding Co. acquired a new stake in shares of Ollie’s Bargain Outlet in the 1st quarter worth $31,000. Blue Trust Inc. boosted its position in shares of Ollie’s Bargain Outlet by 55.2% in the 4th quarter. Blue Trust Inc. now owns 284 shares of the company’s stock worth $31,000 after purchasing an additional 101 shares in the last quarter. Finally, Brown Brothers Harriman & Co. acquired a new stake in shares of Ollie’s Bargain Outlet in the 4th quarter worth $33,000.

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.