Big Lots, Inc. (BIG) Given Consensus Recommendation of “Buy” by Brokerages
Big Lots, Inc. (NYSE:BIG) has earned a consensus recommendation of “Buy” from the fourteen analysts that are presently covering the company, MarketBeat Ratings reports. Four analysts have rated the stock with a hold recommendation, nine have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $58.09.
BIG has been the subject of a number of research reports. Zacks Investment Research raised Big Lots from a “hold” rating to a “buy” rating and set a $56.00 price target for the company in a research report on Monday, May 8th. Deutsche Bank AG upgraded Big Lots from a “hold” rating to a “buy” rating and lifted their price objective for the company from $55.00 to $56.00 in a research note on Tuesday, July 25th. Raymond James Financial, Inc. upgraded Big Lots from a “market perform” rating to a “strong-buy” rating and set a $60.00 price objective for the company in a research note on Wednesday, April 26th. Citigroup Inc. reiterated a “buy” rating and set a $62.00 price objective (up previously from $61.00) on shares of Big Lots in a research note on Friday, June 9th. Finally, BidaskClub upgraded Big Lots from a “sell” rating to a “hold” rating in a research note on Tuesday, July 4th.
In related news, CEO David J. Campisi sold 28,875 shares of Big Lots stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $50.04, for a total value of $1,444,905.00. Following the completion of the transaction, the chief executive officer now owns 225,018 shares in the company, valued at approximately $11,259,900.72. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Russell Solt sold 2,100 shares of Big Lots stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $51.50, for a total value of $108,150.00. Following the completion of the transaction, the director now owns 10,041 shares of the company’s stock, valued at approximately $517,111.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 70,975 shares of company stock valued at $3,593,055. 1.70% of the stock is owned by company insiders.
Institutional investors have recently made changes to their positions in the stock. Huntington National Bank raised its position in shares of Big Lots by 88.9% in the first quarter. Huntington National Bank now owns 2,065 shares of the company’s stock valued at $101,000 after buying an additional 972 shares in the last quarter. Advisors Preferred LLC acquired a new position in shares of Big Lots during the first quarter valued at $101,000. Neuburgh Advisers LLC raised its position in shares of Big Lots by 14.3% in the first quarter. Neuburgh Advisers LLC now owns 2,112 shares of the company’s stock valued at $103,000 after buying an additional 264 shares in the last quarter. IFP Advisors Inc raised its position in shares of Big Lots by 13.6% in the second quarter. IFP Advisors Inc now owns 2,334 shares of the company’s stock valued at $113,000 after buying an additional 280 shares in the last quarter. Finally, FNY Managed Accounts LLC acquired a new position in shares of Big Lots during the first quarter valued at $123,000.
Shares of Big Lots (BIG) traded up 0.231% during mid-day trading on Friday, reaching $49.865. The company’s stock had a trading volume of 393,140 shares. The firm’s 50-day moving average price is $49.08 and its 200 day moving average price is $49.41. Big Lots has a 12-month low of $42.40 and a 12-month high of $56.54. The firm has a market cap of $2.20 billion, a P/E ratio of 13.539 and a beta of 0.85.
Big Lots (NYSE:BIG) last issued its quarterly earnings results on Friday, May 26th. The company reported $1.15 EPS for the quarter, topping the Zacks’ consensus estimate 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 analysts’ expectations of $1.31 billion. During the same quarter in the previous year, the firm posted $0.82 EPS. The firm’s revenue was down 1.2% compared to the same quarter last year. On average, analysts expect that Big Lots will post $4.20 EPS for the current year.
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About Big Lots
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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