Big Lots, Inc. (BIG) Upgraded to “Buy” by Zacks Investment Research
Big Lots, Inc. (NYSE:BIG) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday. The firm presently has a $54.00 target price on the stock. Zacks Investment Research‘s price target would suggest a potential upside of 12.97% from the stock’s previous close.
According to Zacks, “Though, Big Lots’ shares have underperformed the industry in a month, the trend might reverse in the near term owing to better-than-expected second-quarter fiscal 2017 results and encouraging earnings outlook. Moreover, the top line also surpassed the Zacks Consensus Estimate after missing the same in the trailing four quarters on account of robust performance of furniture and soft home. Following the results, management raised fiscal 2017 earnings guidance but remained somewhat cautious about its sales and comparable store sales performance. Sales growth for the full year is predicted to be in the range of 2-2.5%, compared with earlier guided range of 2-3%. Meanwhile, its furniture financing programs have been consistently gaining traction. However, the challenging retail landscape, aggressive promotional strategies and waning store traffic might weigh on the performance.”
Several other equities research analysts also recently issued reports on BIG. BidaskClub upgraded shares of Big Lots from a “hold” rating to a “buy” rating in a research note on Wednesday, August 9th. Piper Jaffray Companies restated a “hold” rating and issued a $52.00 price objective on shares of Big Lots in a research note on Friday, September 1st. KeyCorp restated a “buy” rating on shares of Big Lots in a research note on Friday, September 1st. Deutsche Bank AG restated a “buy” rating and issued a $57.00 price objective (up previously from $56.00) on shares of Big Lots in a research note on Saturday, August 26th. Finally, 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 Friday, August 25th. 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 stock. Big Lots has a consensus rating of “Buy” and a consensus price target of $57.42.
Big Lots (NYSE BIG) traded up 0.19% during mid-day trading on Wednesday, reaching $47.80. 702,682 shares of the company traded hands. The stock has a 50 day moving average price of $49.46 and a 200-day moving average price of $49.16. The company has a market capitalization of $2.06 billion, a P/E ratio of 12.39 and a beta of 0.92. Big Lots has a 52-week low of $42.40 and a 52-week high of $56.54.
Big Lots (NYSE:BIG) last announced its quarterly earnings data on Friday, August 25th. The company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.05. The business had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.21 billion. Big Lots had a net margin of 3.31% and a return on equity of 30.32%. Big Lots’s quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter last year, the company posted $0.52 earnings per share. Analysts expect that Big Lots will post $4.24 EPS for the current fiscal year.
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In other Big Lots news, CEO David J. Campisi sold 28,875 shares of Big Lots stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $50.04, for a total transaction of $1,444,905.00. Following the completion of the transaction, the chief executive officer now directly owns 225,018 shares of the company’s stock, valued at $11,259,900.72. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Russell Solt sold 2,100 shares of Big Lots 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 transaction, the director now directly owns 10,041 shares of the company’s stock, valued at $517,111.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 73,577 shares of company stock valued at $3,717,951. Company insiders own 1.70% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of BIG. Neuburgh Advisers LLC lifted its holdings in shares of Big Lots by 14.3% during the first quarter. Neuburgh Advisers LLC now owns 2,112 shares of the company’s stock valued at $103,000 after acquiring an additional 264 shares during the period. IFP Advisors Inc lifted its holdings in shares of Big Lots by 13.6% during the second quarter. IFP Advisors Inc now owns 2,334 shares of the company’s stock valued at $113,000 after acquiring an additional 280 shares during the period. FNY Managed Accounts LLC bought a new position in shares of Big Lots during the first quarter valued at $123,000. Tyers Asset Management LLC lifted its holdings in shares of Big Lots by 14.3% during the first quarter. Tyers Asset Management LLC now owns 2,688 shares of the company’s stock valued at $131,000 after acquiring an additional 336 shares during the period. Finally, Flinton Capital Management LLC lifted its holdings in shares of Big Lots by 14.3% during the first quarter. Flinton Capital Management LLC now owns 3,264 shares of the company’s stock valued at $159,000 after acquiring an additional 408 shares during the period.
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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