BidaskClub Upgrades Big Lots, Inc. (BIG) to “Hold”
Big Lots, Inc. (NYSE:BIG) was upgraded by equities researchers at BidaskClub from a “sell” rating to a “hold” rating in a research note issued on Tuesday.
A number of other analysts have also commented on BIG. Loop Capital reaffirmed a “buy” rating and issued a $64.00 price target on shares of Big Lots in a research note on Monday, March 6th. Oppenheimer Holdings, Inc. set a $60.00 price target on Big Lots and gave the stock a “buy” rating in a research note on Saturday, May 27th. Citigroup Inc. reaffirmed a “buy” rating and issued a $62.00 price target (up previously from $61.00) on shares of Big Lots in a research note on Friday, June 9th. ValuEngine lowered Big Lots from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, Zacks Investment Research raised Big Lots from a “hold” rating to a “buy” rating and set a $53.00 price target for the company in a research note on Tuesday, May 23rd. Seven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Big Lots presently has a consensus rating of “Buy” and a consensus target price of $57.09.
Big Lots (NYSE:BIG) traded up 1.82% during mid-day trading on Tuesday, hitting $49.18. 501,408 shares of the stock traded hands. Big Lots has a 1-year low of $42.40 and a 1-year high of $56.54. The firm has a market capitalization of $2.17 billion, a P/E ratio of 13.35 and a beta of 0.85. The company has a 50-day moving average of $48.26 and a 200 day moving average of $49.92.
Big Lots (NYSE:BIG) last announced its quarterly earnings results on Friday, May 26th. The company reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.16. Big Lots had a return on equity of 29.88% and a net margin of 3.20%. The company had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.31 billion. During the same quarter last year, the firm posted $0.82 earnings per share. The firm’s revenue was down 1.2% on a year-over-year basis. On average, equities research analysts anticipate that Big Lots will post $4.20 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 23rd. Shareholders of record on Friday, June 9th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.03%. The ex-dividend date was Wednesday, June 7th. Big Lots’s dividend payout ratio is currently 27.25%.
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In other Big Lots news, insider Lisa M. Bachmann sold 9,538 shares of the firm’s stock in a transaction on Wednesday, April 26th. The stock was sold at an average price of $51.09, for a total transaction of $487,296.42. Following the completion of the transaction, the insider now owns 45,920 shares of the company’s stock, valued at $2,346,052.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael Allen Schlonsky sold 15,000 shares of the firm’s stock in a transaction on Monday, April 24th. The shares were sold at an average price of $49.98, for a total value of $749,700.00. Following the transaction, the insider now directly owns 52,104 shares of the company’s stock, valued at approximately $2,604,157.92. The disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. BlackRock Inc. increased its position in shares of Big Lots by 3,846.5% in the first quarter. BlackRock Inc. now owns 6,101,011 shares of the company’s stock valued at $296,996,000 after buying an additional 5,946,417 shares during the last quarter. Norges Bank bought a new position in shares of Big Lots during the fourth quarter valued at $31,377,000. UBS Asset Management Americas Inc. increased its position in shares of Big Lots by 206.9% in the first quarter. UBS Asset Management Americas Inc. now owns 547,890 shares of the company’s stock valued at $26,671,000 after buying an additional 369,367 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Big Lots by 7.2% in the first quarter. Vanguard Group Inc. now owns 5,474,133 shares of the company’s stock valued at $266,480,000 after buying an additional 368,464 shares during the last quarter. Finally, Westport Asset Management Inc. bought a new position in shares of Big Lots during the fourth quarter valued at $9,851,000.
Big Lots Company Profile
Big Lots, Inc is a non-traditional, discount retailer operating in the United States. As of January 28, 2017, the Company operated a total of 1,432 stores. The Company operates through the discount retailing segment. As of January 28, 2017, the Company’s stores are located at various states of the United States, such as Alabama, Arizona, California, Colorado, Florida, Georgia, Idaho, Indiana, Iowa, Kansas, Kentucky, Maine, Michigan, Montana, Nevada, Nebraska, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, South Carolina, Texas, Utah and Washington.
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