Big Lots (NYSE:BIG)‘s stock had its “market perform” rating restated by stock analysts at Telsey Advisory Group in a research note issued to investors on Monday, MarketBeat.com reports. They presently have a $55.00 price target on the stock, down from their prior price target of $65.00. Telsey Advisory Group’s price target suggests a potential upside of 16.13% from the company’s previous close.
Several other analysts have also commented on the stock. Zacks Investment Research lowered shares of Big Lots from a “buy” rating to a “hold” rating in a research report on Tuesday, November 21st. KeyCorp reiterated a “buy” rating and issued a $63.00 price target on shares of Big Lots in a research report on Friday, December 1st. Oppenheimer reiterated a “market perform” rating on shares of Big Lots in a research report on Wednesday, January 10th. Citigroup set a $69.00 price target on shares of Big Lots and gave the company a “buy” rating in a research report on Tuesday, December 5th. Finally, UBS Group lowered shares of Big Lots from an “outperform” rating to a “market perform” rating in a research report on Wednesday, January 10th. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Big Lots has an average rating of “Buy” and a consensus target price of $60.82.
Big Lots (NYSE:BIG) opened at $47.36 on Monday. Big Lots has a 1-year low of $45.10 and a 1-year high of $64.42. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.66 and a quick ratio of 0.24. The stock has a market cap of $2,036.49, a PE ratio of 10.89, a price-to-earnings-growth ratio of 0.73 and a beta of 0.99.
Big Lots announced that its Board of Directors has initiated a share buyback program on Friday, March 9th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.
In related news, Director Jeffrey Paul Berger sold 6,000 shares of the firm’s stock in a transaction that occurred on Friday, January 5th. The shares were sold at an average price of $58.00, for a total transaction of $348,000.00. Following the sale, the director now owns 7,566 shares in the company, valued at $438,828. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Timothy A. Johnson sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 4th. The stock was sold at an average price of $55.00, for a total transaction of $1,100,000.00. Following the sale, the insider now owns 65,649 shares in the company, valued at approximately $3,610,695. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently made changes to their positions in BIG. C M Bidwell & Associates Ltd. acquired a new position in shares of Big Lots in the 4th quarter valued at $104,000. We Are One Seven LLC acquired a new position in shares of Big Lots in the 4th quarter valued at $110,000. Cerebellum GP LLC acquired a new position in shares of Big Lots in the 4th quarter valued at $128,000. DekaBank Deutsche Girozentrale boosted its holdings in shares of Big Lots by 78.3% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 2,858 shares of the company’s stock valued at $144,000 after purchasing an additional 1,255 shares during the last quarter. Finally, Oppenheimer & Co. Inc. acquired a new position in shares of Big Lots in the 3rd quarter valued at $200,000.
COPYRIGHT VIOLATION WARNING: This piece was published by American Banking News and is the sole property of of American Banking News. If you are accessing this piece on another website, it was illegally copied and reposted in violation of international trademark & copyright legislation. The correct version of this piece can be accessed at https://www.americanbankingnews.com/2018/03/12/big-lots-big-given-new-55-00-price-target-at-telsey-advisory-group.html.
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 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Big Lots and related companies with MarketBeat.com's FREE daily email newsletter.