Ollie’s Bargain Outlet (NASDAQ:OLLI) Releases Quarterly Earnings Results, Beats Estimates By $0.30 EPS

Ollie’s Bargain Outlet (NASDAQ:OLLI) announced its earnings results on Wednesday. The company reported $1.42 EPS for the quarter, topping the consensus estimate of $1.12 by $0.30, Briefing.com reports. Ollie’s Bargain Outlet had a net margin of 9.13% and a return on equity of 13.43%. During the same quarter in the prior year, the company posted $0.99 EPS. The firm’s quarterly revenue was up 9.1% on a year-over-year basis.

Ollie’s Bargain Outlet Trading Down 4.1%

NASDAQ:OLLI opened at $72.34 on Wednesday. The stock has a market capitalization of $4.37 billion, a PE ratio of 17.86, a P/E/G ratio of 1.33 and a beta of 0.50. The firm has a fifty day simple moving average of $72.24 and a 200 day simple moving average of $84.76. Ollie’s Bargain Outlet has a 1-year low of $60.29 and a 1-year high of $139.21.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Balyasny Asset Management L.P. acquired a new position in shares of Ollie’s Bargain Outlet during the 3rd quarter worth approximately $136,152,000. Invesco Ltd. grew its position in shares of Ollie’s Bargain Outlet by 17.2% in the third quarter. Invesco Ltd. now owns 2,992,848 shares of the company’s stock valued at $384,282,000 after purchasing an additional 440,243 shares during the last quarter. Freestone Grove Partners LP bought a new position in shares of Ollie’s Bargain Outlet during the fourth quarter worth approximately $44,168,000. Marshall Wace LLP increased its stake in shares of Ollie’s Bargain Outlet by 1,082.9% during the third quarter. Marshall Wace LLP now owns 390,196 shares of the company’s stock worth $50,101,000 after purchasing an additional 357,210 shares during the period. Finally, Wellington Management Group LLP lifted its holdings in Ollie’s Bargain Outlet by 57.1% during the 4th quarter. Wellington Management Group LLP now owns 953,008 shares of the company’s stock worth $104,459,000 after purchasing an additional 346,543 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on OLLI shares. Wells Fargo & Company lowered their price objective on shares of Ollie’s Bargain Outlet from $115.00 to $100.00 and set an “overweight” rating for the company in a research report on Monday, August 17th. Gordon Haskett reaffirmed an “accumulate” rating and issued a $90.00 target price (down from $100.00) on shares of Ollie’s Bargain Outlet in a research note on Thursday, June 4th. JPMorgan Chase & Co. increased their target price on Ollie’s Bargain Outlet from $70.00 to $73.00 and gave the stock a “neutral” rating in a report on Tuesday, August 18th. KeyCorp dropped their price target on Ollie’s Bargain Outlet from $140.00 to $98.00 and set an “overweight” rating on the stock in a research note on Thursday, July 16th. Finally, Morgan Stanley decreased their price objective 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 analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $107.29.

Ollie’s Bargain Outlet Company Profile

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.