Big Lots, Inc. (BIG) Rating Increased to Buy at ValuEngine
Big Lots, Inc. (NYSE:BIG) was upgraded by stock analysts at ValuEngine from a “hold” rating to a “buy” rating in a research note issued to investors on Friday.
A number of other research firms have also commented on BIG. Oppenheimer Holdings, Inc. set a $60.00 price target on shares of Big Lots and gave the company a “buy” rating in a research report on Friday, August 25th. Zacks Investment Research lowered shares of Big Lots from a “buy” rating to a “hold” rating in a research report on Friday, September 8th. Citigroup Inc. restated a “buy” rating and issued a $62.00 price objective (up previously from $61.00) on shares of Big Lots in a research note on Friday, June 9th. BidaskClub downgraded shares of Big Lots from a “hold” rating to a “sell” rating in a research note on Thursday, June 22nd. Finally, KeyCorp restated a “buy” rating on shares of Big Lots in a research note on Friday, September 1st. Four analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $57.50.
Shares of Big Lots (NYSE BIG) traded up 1.34% on Friday, hitting $50.02. 1,476,831 shares of the stock traded hands. The stock has a 50-day moving average price of $49.47 and a 200 day moving average price of $49.03. Big Lots has a 12-month low of $42.40 and a 12-month high of $56.54. The stock has a market cap of $2.12 billion, a price-to-earnings ratio of 12.97 and a beta of 0.92.
Big Lots (NYSE:BIG) last released its quarterly earnings results on Friday, August 25th. The company reported $0.67 EPS for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.05. Big Lots had a net margin of 3.31% and a return on equity of 30.32%. The company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.21 billion. During the same quarter last year, the firm posted $0.52 earnings per share. The company’s quarterly revenue was up 1.5% compared to the same quarter last year. On average, analysts anticipate that Big Lots will post $4.24 earnings per share for the current fiscal year.
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In other Big Lots news, insider Lisa M. Bachmann sold 40,000 shares of Big Lots stock in a transaction on Monday, August 7th. The shares were sold at an average price of $51.00, for a total transaction of $2,040,000.00. Following the sale, the insider now owns 48,089 shares in the company, valued at $2,452,539. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Russell Solt sold 2,100 shares of Big Lots stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $51.50, for a total transaction of $108,150.00. Following the sale, the director now owns 10,041 shares in the company, valued at approximately $517,111.50. The disclosure for this sale can be found here. Insiders have sold 73,577 shares of company stock worth $3,717,951 in the last quarter. Corporate insiders own 1.70% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of BIG. BlackRock Inc. boosted its stake in Big Lots by 3,846.5% during the first quarter. BlackRock Inc. now owns 6,101,011 shares of the company’s stock worth $296,996,000 after buying an additional 5,946,417 shares in the last quarter. Acadian Asset Management LLC boosted its stake in Big Lots by 105.1% during the second quarter. Acadian Asset Management LLC now owns 813,168 shares of the company’s stock worth $39,276,000 after buying an additional 416,770 shares in the last quarter. UBS Asset Management Americas Inc. boosted its stake in Big Lots by 206.9% during the first quarter. UBS Asset Management Americas Inc. now owns 547,890 shares of the company’s stock worth $26,671,000 after buying an additional 369,367 shares in the last quarter. Vanguard Group Inc. boosted its stake in Big Lots by 7.2% during the first quarter. Vanguard Group Inc. now owns 5,474,133 shares of the company’s stock worth $266,480,000 after buying an additional 368,464 shares in the last quarter. Finally, Balyasny Asset Management LLC boosted its stake in Big Lots by 43.3% during the second quarter. Balyasny Asset Management LLC now owns 1,080,139 shares of the company’s stock worth $52,171,000 after buying an additional 326,620 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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