Big Lots Sets New 1-Year High After Analyst Upgrade (BIG)
Big Lots (NYSE:BIG) reached a new 52-week high during mid-day trading on Tuesday after Benchmark raised their price target on the stock from $49.00 to $53.00, AnalystRatingsNetwork.com reports. Benchmark currently has a buy rating on the stock. Big Lots traded as high as $48.42 and last traded at $47.98, with a volume of 348,803 shares. The stock had previously closed at $47.38.
A number of other firms have also recently commented on BIG. Analysts at JPMorgan Chase & Co. raised their price target on shares of Big Lots from $46.00 to $53.00 in a research note on Friday, August 8th. Separately, 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. Finally, 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. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $47.92.
The stock has a 50-day moving average of $45.06 and a 200-day moving average of $39.71. The company has a market cap of $2.672 billion and a P/E ratio of 28.46.
Big Lots (NYSE:BIG) last issued its quarterly earnings data 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 $2.48 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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