Big Lots, Inc. (BIG) Earns Hold Rating from Piper Jaffray Companies
Big Lots, Inc. (NYSE:BIG)‘s stock had its “hold” rating reissued by equities researchers at Piper Jaffray Companies in a note issued to investors on Friday. They presently have a $52.00 price objective on the stock. Piper Jaffray Companies’ target price indicates a potential upside of 8.81% from the stock’s current price.
A number of other analysts have also recently issued reports on BIG. Zacks Investment Research upgraded shares of Big Lots from a “hold” rating to a “buy” rating and set a $56.00 price objective for the company in a research note on Monday, May 8th. Oppenheimer Holdings, Inc. set a $60.00 price objective on shares of Big Lots and gave the stock a “buy” rating in a research note on Saturday, May 27th. Loop Capital restated a “buy” rating and issued a $64.00 price objective on shares of Big Lots in a research note on Tuesday, May 30th. ValuEngine cut shares of Big Lots from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, Citigroup Inc reaffirmed a “buy” rating and set a $62.00 target price (up previously from $61.00) on shares of Big Lots in a research report on Friday, June 9th. Six equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $57.67.
Big Lots (NYSE BIG) traded up 0.40% during trading on Friday, hitting $47.79. The company had a trading volume of 920,370 shares. Big Lots has a 52-week low of $42.40 and a 52-week high of $56.54. The firm’s 50 day moving average is $49.48 and its 200-day moving average is $49.28. The stock has a market capitalization of $2.06 billion, a price-to-earnings ratio of 12.39 and a beta of 0.92.
Big Lots (NYSE:BIG) last posted its earnings results on Friday, August 25th. The company reported $0.67 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.05. The firm had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.21 billion. Big Lots had a net margin of 3.31% and a return on equity of 30.32%. The company’s revenue was up 1.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.52 earnings per share. On average, equities analysts forecast that Big Lots will post $4.24 earnings per share for the current year.
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In other news, Director Russell Solt sold 2,100 shares of the business’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $51.50, for a total value of $108,150.00. Following the sale, the director now owns 10,041 shares in the company, valued at approximately $517,111.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David J. Campisi sold 28,875 shares of the business’s stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $50.04, for a total transaction of $1,444,905.00. Following the completion of the sale, the chief executive officer now owns 225,018 shares in the company, valued at approximately $11,259,900.72. The disclosure for this sale can be found here. Insiders sold a total of 73,577 shares of company stock worth $3,717,951 in the last 90 days. 1.70% of the stock is owned by corporate insiders.
Large investors have recently modified their holdings of the company. Huntington National Bank boosted its stake in shares of Big Lots by 88.9% in the 1st quarter. Huntington National Bank now owns 2,065 shares of the company’s stock valued at $101,000 after purchasing an additional 972 shares in the last quarter. Neuburgh Advisers LLC boosted its stake in shares of Big Lots by 14.3% in the 1st quarter. Neuburgh Advisers LLC now owns 2,112 shares of the company’s stock valued at $103,000 after purchasing an additional 264 shares in the last quarter. IFP Advisors Inc boosted its stake in shares of Big Lots by 13.6% in the 2nd quarter. IFP Advisors Inc now owns 2,334 shares of the company’s stock valued at $113,000 after purchasing an additional 280 shares in the last quarter. FNY Managed Accounts LLC acquired a new stake in shares of Big Lots in the 1st quarter valued at $123,000. Finally, Tyers Asset Management LLC boosted its stake in shares of Big Lots by 14.3% in the 1st quarter. Tyers Asset Management LLC now owns 2,688 shares of the company’s stock valued at $131,000 after purchasing an additional 336 shares in the last quarter.
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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