Big Lots (NYSE:BIG)‘s stock had its “hold” rating reaffirmed by research analysts at Citigroup in a report issued on Tuesday. They presently have a $56.00 price objective on the stock. Citigroup’s target price suggests a potential upside of 17.97% from the company’s current price.
Several other research firms have also issued reports on BIG. Zacks Investment Research raised shares of Big Lots from a “hold” rating to a “buy” rating and set a $63.00 price target on the stock in a research report on Thursday, November 30th. Telsey Advisory Group boosted their price target on shares of Big Lots from $56.00 to $59.00 and gave the company a “market perform” rating in a research report on Monday, December 4th. Morgan Stanley set a $64.00 price target on shares of Big Lots and gave the company a “buy” rating in a research report on Monday. KeyCorp reissued an “overweight” rating and issued a $58.00 price target (down previously from $63.00) on shares of Big Lots in a research report on Monday. 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. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $59.64.
Shares of Big Lots (NYSE BIG) opened at $47.47 on Tuesday. The company has a market cap of $1,990.67, a PE ratio of 10.84, a price-to-earnings-growth ratio of 0.71 and a beta of 0.99. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.66 and a quick ratio of 0.24. Big Lots has a 12-month low of $45.10 and a 12-month high of $64.42.
Big Lots declared that its board has approved a share buyback program on Friday, March 9th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s board of directors 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 have recently made changes to their positions in BIG. Sei Investments Co. boosted its stake in shares of Big Lots by 488.2% in the 4th quarter. Sei Investments Co. now owns 753,487 shares of the company’s stock valued at $25,515,000 after purchasing an additional 625,395 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Big Lots in the 4th quarter valued at $25,598,000. J. Goldman & Co LP purchased a new stake in shares of Big Lots in the 4th quarter valued at $21,077,000. APG Asset Management N.V. boosted its stake in shares of Big Lots by 160.7% in the 4th quarter. APG Asset Management N.V. now owns 560,800 shares of the company’s stock valued at $26,223,000 after purchasing an additional 345,700 shares in the last quarter. Finally, Schroder Investment Management Group raised its holdings in Big Lots by 252.0% during the 4th quarter. Schroder Investment Management Group now owns 353,400 shares of the company’s stock valued at $19,843,000 after buying an additional 253,000 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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