Big Lots (NYSE:BIG) has been assigned a $58.00 price target by equities research analysts at MKM Partners in a research report issued to clients and investors on Monday. The brokerage currently has a “buy” rating on the stock. MKM Partners’ target price would indicate a potential upside of 19.59% from the stock’s current price.
Several other equities research analysts have also recently commented on BIG. Telsey Advisory Group dropped their price objective on Big Lots from $65.00 to $55.00 and set a “market perform” rating on the stock in a research report on Monday. Citigroup downgraded Big Lots from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 10th. They noted that the move was a valuation call. Zacks Investment Research raised Big Lots from a “hold” rating to a “buy” rating and set a $69.00 target price on the stock in a report on Wednesday, January 31st. Loop Capital reissued a “buy” rating and issued a $70.00 target price on shares of Big Lots in a report on Monday, January 29th. Finally, Raymond James Financial reissued a “buy” rating and issued a $67.00 target price on shares of Big Lots in a report on Saturday, December 2nd. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $61.64.
Shares of Big Lots (NYSE:BIG) opened at $48.50 on Monday. The company has a current ratio of 1.66, a quick ratio of 0.24 and a debt-to-equity ratio of 0.66. Big Lots has a 12-month low of $45.10 and a 12-month high of $64.42. The company has a market capitalization of $2,040.00, a price-to-earnings ratio of 12.37, a P/E/G ratio of 0.73 and a beta of 0.99.
Big Lots declared that its board has authorized a share repurchase plan on Friday, March 9th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.
In other news, insider Timothy A. Johnson sold 20,000 shares of the firm’s stock in a transaction dated Thursday, January 4th. The stock was sold at an average price of $55.00, for a total value of $1,100,000.00. Following the transaction, the insider now owns 65,649 shares of the company’s stock, valued at $3,610,695. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jeffrey Paul Berger sold 6,000 shares of the firm’s stock in a transaction dated Friday, January 5th. The stock was sold at an average price of $58.00, for a total value of $348,000.00. Following the completion of the transaction, the director now directly owns 7,566 shares in the company, valued at approximately $438,828. The disclosure for this sale can be found here. 1.70% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Alps Advisors Inc. raised its stake in shares of Big Lots by 0.3% in the second quarter. Alps Advisors Inc. now owns 9,834 shares of the company’s stock worth $475,000 after buying an additional 25 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of Big Lots by 0.4% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 6,591 shares of the company’s stock worth $331,000 after buying an additional 27 shares during the period. Somerset Trust Co raised its stake in shares of Big Lots by 0.5% in the second quarter. Somerset Trust Co now owns 11,008 shares of the company’s stock worth $531,000 after buying an additional 54 shares during the period. Benjamin F. Edwards & Company Inc. raised its stake in Big Lots by 1.8% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 3,945 shares of the company’s stock valued at $191,000 after purchasing an additional 68 shares during the period. Finally, Amalgamated Bank raised its stake in Big Lots by 1.4% during the 2nd quarter. Amalgamated Bank now owns 5,529 shares of the company’s stock valued at $303,000 after purchasing an additional 79 shares during the period.
TRADEMARK VIOLATION WARNING: This article was first reported by American Banking News and is the sole property of of American Banking News. If you are reading this article on another publication, it was illegally copied and reposted in violation of international copyright and trademark legislation. The original version of this article can be read at https://www.americanbankingnews.com/2018/03/12/mkm-partners-reiterates-58-00-price-target-for-big-lots-big.html.
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.
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.