Ollie’s Bargain Outlet (NASDAQ:OLLI) Shares Gap Up – Should You Buy?

Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $97.00, but opened at $100.96. Ollie’s Bargain Outlet shares last traded at $101.71, with a volume of 196,382 shares.

Analysts Set New Price Targets

Several analysts have commented on the stock. JPMorgan Chase & Co. increased their price target on shares of Ollie’s Bargain Outlet from $105.00 to $135.00 and gave the company an “overweight” rating in a research report on Wednesday, December 11th. Truist Financial raised their price objective on Ollie’s Bargain Outlet from $109.00 to $121.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Craig Hallum increased their price target on Ollie’s Bargain Outlet from $107.00 to $130.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Citigroup raised shares of Ollie’s Bargain Outlet from a “sell” rating to a “buy” rating and increased their price objective for the company from $64.00 to $133.00 in a research report on Wednesday, December 18th. Finally, StockNews.com downgraded Ollie’s Bargain Outlet from a “hold” rating to a “sell” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $118.62.

Ollie’s Bargain Outlet Price Performance

The stock’s fifty day moving average price is $104.13 and its 200-day moving average price is $98.56. The firm has a market cap of $6.25 billion, a PE ratio of 30.46, a price-to-earnings-growth ratio of 2.63 and a beta of 0.82.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last released its quarterly earnings results on Tuesday, December 10th. The company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.57 by $0.01. The firm had revenue of $517.43 million for the quarter, compared to analyst estimates of $518.83 million. Ollie’s Bargain Outlet had a net margin of 9.22% and a return on equity of 13.15%. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.51 EPS. On average, sell-side analysts anticipate that Ollie’s Bargain Outlet Holdings, Inc. will post 3.29 earnings per share for the current fiscal year.

Insider Buying and Selling at Ollie’s Bargain Outlet

In related news, CEO John W. Swygert sold 4,032 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $102.51, for a total transaction of $413,320.32. Following the completion of the transaction, the chief executive officer now directly owns 48,200 shares of the company’s stock, valued at $4,940,982. The trade was a 7.72 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP James J. Comitale sold 5,325 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $113.95, for a total transaction of $606,783.75. Following the sale, the senior vice president now owns 3,140 shares in the company, valued at $357,803. The trade was a 62.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 87,771 shares of company stock valued at $9,650,832 in the last 90 days. Company insiders own 0.87% of the company’s stock.

Institutional Trading of Ollie’s Bargain Outlet

A number of hedge funds and other institutional investors have recently bought and sold shares of OLLI. State Street Corp boosted its holdings in Ollie’s Bargain Outlet by 2.1% in the third quarter. State Street Corp now owns 1,871,047 shares of the company’s stock valued at $181,866,000 after purchasing an additional 38,203 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Ollie’s Bargain Outlet by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,078,544 shares of the company’s stock valued at $104,860,000 after buying an additional 9,492 shares during the last quarter. Geneva Capital Management LLC raised its stake in Ollie’s Bargain Outlet by 1.3% during the 3rd quarter. Geneva Capital Management LLC now owns 1,050,469 shares of the company’s stock worth $102,106,000 after acquiring an additional 13,369 shares in the last quarter. Fred Alger Management LLC grew its holdings in shares of Ollie’s Bargain Outlet by 12.1% during the third quarter. Fred Alger Management LLC now owns 772,145 shares of the company’s stock worth $75,052,000 after purchasing an additional 83,063 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Ollie’s Bargain Outlet by 0.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 753,658 shares of the company’s stock valued at $73,256,000 after purchasing an additional 5,438 shares during the last quarter.

About Ollie’s Bargain Outlet

Ollie's Bargain Outlet Holdings, Inc operates as a retailer of brand name merchandise in the United States. The company offers housewares, bed and bath, food, floor coverings, health and beauty aids, books and stationery, toys, and electronics; and other products, including hardware, candy, clothing, sporting goods, pet and lawn, and garden products.