Big Lots Receives “Overweight” Rating from JPMorgan Chase & Co. (BIG)
Big Lots (NYSE:BIG)‘s stock had its “overweight” rating reaffirmed by JPMorgan Chase & Co. in a research note issued on Wednesday. They currently have a $46.00 price target on the stock, up from their previous price target of $45.00. JPMorgan Chase & Co.’s price objective points to a potential upside of 3.21% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. Analysts at BB&T Corp. raised their price target on shares of Big Lots from $47.00 to $49.00 in a research note on Monday. They now have a “buy” rating on the stock. Separately, analysts at TheStreet downgraded shares of Big Lots from a “buy” rating to a “hold” rating in a research note on Tuesday, June 3rd. Finally, analysts at Wedbush raised their price target on shares of Big Lots from $42.00 to $49.00 in a research note on Monday, June 2nd. They now have an “outperform” rating on the stock. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Big Lots presently has a consensus rating of “Buy” and a consensus price target of $45.46.
Big Lots (NYSE:BIG) traded up 0.13% during mid-day trading on Wednesday, hitting $44.6301. The stock had a trading volume of 352,575 shares. Big Lots has a 52 week low of $25.50 and a 52 week high of $45.00. The stock has a 50-day moving average of $39.91 and a 200-day moving average of $34.45. The company has a market cap of $2.544 billion and a price-to-earnings ratio of 26.77.
Big Lots (NYSE:BIG) last announced its earnings results on Friday, May 30th. The company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.06. The company had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter in the previous year, the company posted $0.61 earnings per share. The company’s revenue for the quarter was down 2.3% on a year-over-year basis. On average, analysts predict that Big Lots will post $2.52 earnings per share for the current fiscal year.
Big Lots, Inc, through its wholly owned subsidiaries, is a North America’s closeout retailer. At January 28, 2012, the Company operated a total of 1,533 stores in two countries: the United States and Canada.
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