Big Lots Given New $53.00 Price Target at JPMorgan Chase & Co. (BIG)
Analysts at JPMorgan Chase & Co. lifted their price objective on shares of Big Lots (NYSE:BIG) from $46.00 to $53.00 in a research report issued to clients and investors on Friday. JPMorgan Chase & Co.’s price objective would suggest a potential upside of 15.17% from the stock’s previous close.
Shares of Big Lots (NYSE:BIG) opened at 46.02 on Friday. Big Lots has a 52 week low of $25.50 and a 52 week high of $46.39. The stock’s 50-day moving average is $44.61 and its 200-day moving average is $37.98. The company has a market cap of $2.553 billion and a price-to-earnings ratio of 26.52.
Big Lots (NYSE:BIG) last announced its earnings results on Friday, May 30th. The company reported $0.50 EPS for the quarter, beating the Thomson Reuters 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 prior 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 $2.49 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on BIG. Analysts at Deutsche Bank reiterated a “buy” rating on shares of Big Lots in a research note on Monday, June 23rd. They now have a $49.00 price target on the stock, up previously from $43.00. Separately, analysts at KeyCorp reiterated a “buy” rating on shares of Big Lots in a research note on Tuesday, June 17th. They now have a $53.00 price target on the stock, up previously from $50.00. Finally, 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, June 9th. They now have a “buy” rating on the stock. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $47.58.
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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.