Big Lots (NYSE:BIG) has been given a $64.00 price objective by stock analysts at Morgan Stanley in a note issued to investors on Monday. The firm currently has a “buy” rating on the stock. Morgan Stanley’s price target would suggest a potential upside of 35.14% from the company’s previous close.
BIG has been the topic of several other research reports. Citigroup lowered shares of Big Lots from an “outperform” rating to a “market perform” rating in a research report on Wednesday, January 10th. They noted that the move was a valuation call. MKM Partners set a $58.00 price target on shares of Big Lots and gave the company a “buy” rating in a research report on Monday. KeyCorp reissued a “buy” rating and issued a $63.00 price target on shares of Big Lots in a research report on Friday, December 1st. Oppenheimer reissued a “market perform” rating on shares of Big Lots in a research report on Wednesday, January 10th. Finally, Raymond James Financial reissued a “buy” rating and issued a $67.00 price target on shares of Big Lots in a research report on Saturday, December 2nd. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $60.82.
Shares of Big Lots (NYSE BIG) traded down $1.09 during mid-day trading on Monday, reaching $47.36. 3,401,264 shares of the company’s stock traded hands, compared to its average volume of 1,376,741. The company has a market capitalization of $1,990.00, a price-to-earnings ratio of 12.08, a price-to-earnings-growth ratio of 0.73 and a beta of 0.99. 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 twelve month low of $45.10 and a twelve month high of $64.42.
Big Lots declared that its Board of Directors has approved a stock repurchase plan on Friday, March 9th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.
In other Big Lots news, Director Jeffrey Paul Berger sold 6,000 shares of the business’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 value of $348,000.00. Following the completion of the transaction, the director now owns 7,566 shares of the company’s stock, valued at approximately $438,828. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Timothy A. Johnson sold 20,000 shares of the business’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 completion of the transaction, the insider now directly owns 65,649 shares of the company’s stock, valued at approximately $3,610,695. The disclosure for this sale can be found here. 1.70% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Wells Fargo & Company MN lifted its holdings in shares of Big Lots by 7.6% in the 4th quarter. Wells Fargo & Company MN now owns 2,649,320 shares of the company’s stock worth $148,760,000 after acquiring an additional 187,228 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Big Lots by 0.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,458,840 shares of the company’s stock valued at $78,150,000 after buying an additional 4,634 shares during the last quarter. Snow Capital Management LP raised its holdings in Big Lots by 3.5% during the 4th quarter. Snow Capital Management LP now owns 1,234,456 shares of the company’s stock valued at $69,315,000 after buying an additional 42,188 shares during the last quarter. Sei Investments Co. raised its holdings in Big Lots by 488.2% during the 4th quarter. Sei Investments Co. now owns 753,487 shares of the company’s stock valued at $25,515,000 after buying an additional 625,395 shares during the last quarter. Finally, APG Asset Management N.V. raised its holdings in Big Lots by 160.7% during the 4th quarter. APG Asset Management N.V. now owns 560,800 shares of the company’s stock valued at $26,223,000 after buying an additional 345,700 shares during the last quarter.
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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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