Big Lots, Inc. (BIG) Receives Average Recommendation of “Buy” from Brokerages
Shares of Big Lots, Inc. (NYSE:BIG) have earned a consensus rating of “Buy” from the sixteen research firms that are presently covering the stock, MarketBeat.com reports. Four research analysts have rated the stock with a hold recommendation, eleven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $57.64.
Several brokerages have recently weighed in on BIG. BidaskClub upgraded Big Lots from a “hold” rating to a “buy” rating in a research report on Wednesday, August 9th. Zacks Investment Research upgraded 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 Friday, July 28th. Piper Jaffray Companies set a $52.00 price target on Big Lots and gave the company a “hold” rating in a research report on Sunday, October 1st. Finally, Deutsche Bank AG reiterated a “buy” rating and issued a $57.00 price target (up from $56.00) on shares of Big Lots in a research report on Saturday, August 26th.
In other Big Lots news, CEO David J. Campisi sold 96,940 shares of the company’s stock in a transaction that occurred on Wednesday, September 27th. The stock was sold at an average price of $53.00, for a total transaction of $5,137,820.00. Following the completion of the transaction, the chief executive officer now owns 99,203 shares of the company’s stock, valued at approximately $5,257,759. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Lisa M. Bachmann sold 40,000 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $51.00, for a total value of $2,040,000.00. Following the transaction, the insider now directly owns 48,089 shares of the company’s stock, valued at approximately $2,452,539. The disclosure for this sale can be found here. In the last three months, insiders sold 142,642 shares of company stock valued at $7,461,866. 1.70% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in BIG. BlackRock Inc. raised its position in Big Lots by 3,846.5% during the 1st quarter. BlackRock Inc. now owns 6,101,011 shares of the company’s stock valued at $296,996,000 after purchasing an additional 5,946,417 shares during the last quarter. Acadian Asset Management LLC raised its position in Big Lots by 105.1% during the 2nd quarter. Acadian Asset Management LLC now owns 813,168 shares of the company’s stock valued at $39,276,000 after purchasing an additional 416,770 shares during the last quarter. Vanguard Group Inc. raised its position in Big Lots by 7.2% during the 1st quarter. Vanguard Group Inc. now owns 5,474,133 shares of the company’s stock valued at $266,480,000 after purchasing an additional 368,464 shares during the last quarter. Balyasny Asset Management LLC raised its position in Big Lots by 43.3% during the 2nd quarter. Balyasny Asset Management LLC now owns 1,080,139 shares of the company’s stock valued at $52,171,000 after purchasing an additional 326,620 shares during the last quarter. Finally, Old Mutual Global Investors UK Ltd. raised its position in Big Lots by 37.0% during the 3rd quarter. Old Mutual Global Investors UK Ltd. now owns 1,121,899 shares of the company’s stock valued at $60,100,000 after purchasing an additional 303,207 shares during the last quarter.
Big Lots (NYSE BIG) traded up 0.82% during mid-day trading on Wednesday, hitting $51.73. The stock had a trading volume of 119,507 shares. The stock has a market capitalization of $2.20 billion, a P/E ratio of 13.41 and a beta of 0.96. The company’s 50 day moving average is $51.43 and its 200-day moving average is $49.54. Big Lots has a 52 week low of $42.63 and a 52 week high of $56.54.
Big Lots (NYSE:BIG) last announced its quarterly earnings results on Friday, August 25th. The company reported $0.67 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.05. The company had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.21 billion. Big Lots had a return on equity of 30.32% and a net margin of 3.31%. The firm’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.52 earnings per share. On average, analysts expect that Big Lots will post $4.24 EPS for the current fiscal year.
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.
Receive News & Ratings for Big Lots Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Big Lots Inc. and related companies with MarketBeat.com's FREE daily email newsletter.