Big Lots, Inc. (BIG) Rating Increased to Buy at Zacks Investment Research
Big Lots, Inc. (NYSE:BIG) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Thursday. The brokerage presently has a $55.00 price target on the stock. Zacks Investment Research‘s price objective points to a potential upside of 11.09% from the company’s previous close.
According to Zacks, “Though, Big Lots’ shares have underperformed the industry in a month, the trend might reverse in the near term owing to better-than-expected second-quarter fiscal 2017 results and encouraging earnings outlook. Moreover, the top line also surpassed the Zacks Consensus Estimate after missing the same in the trailing four quarters on account of robust performance of furniture and soft home. Following the results, management raised fiscal 2017 earnings guidance but remained somewhat cautious about its sales and comparable store sales performance. Sales growth for the full year is predicted to be in the range of 2-2.5%, compared with earlier guided range of 2-3%. Meanwhile, its furniture financing programs have been consistently gaining traction. However, the challenging retail landscape, aggressive promotional strategies and waning store traffic might weigh on the performance.”
Several other research firms have also recently commented on BIG. Oppenheimer Holdings, Inc. set a $60.00 price target on shares of Big Lots and gave the stock a “buy” rating in a report on Friday, August 25th. ValuEngine upgraded shares of Big Lots from a “hold” rating to a “buy” rating in a report on Friday, September 15th. Citigroup Inc. restated a “buy” rating and set a $62.00 price target (up from $61.00) on shares of Big Lots in a report on Friday, June 9th. BidaskClub cut shares of Big Lots from a “hold” rating to a “sell” rating in a report on Thursday, June 22nd. Finally, KeyCorp restated a “buy” rating on shares of Big Lots in a report on Friday, September 1st. Four investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $57.50.
Big Lots (BIG) opened at 49.51 on Thursday. The company’s 50-day moving average is $49.41 and its 200 day moving average is $48.93. The firm has a market cap of $2.10 billion, a price-to-earnings ratio of 12.83 and a beta of 0.92. Big Lots has a 12 month low of $42.40 and a 12 month high of $56.54.
Big Lots (NYSE:BIG) last announced its earnings results on Friday, August 25th. The company reported $0.67 EPS for the quarter, topping the 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 net margin of 3.31% and a return on equity of 30.32%. The business’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same period last year, the company posted $0.52 earnings per share. On average, equities research analysts predict that Big Lots will post $4.24 earnings per share for the current year.
In related news, Director Russell Solt sold 2,100 shares of the firm’s stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $51.50, for a total transaction of $108,150.00. Following the transaction, the director now owns 10,041 shares of the company’s stock, valued at $517,111.50. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO David J. Campisi sold 28,875 shares of the firm’s stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $50.04, for a total transaction of $1,444,905.00. Following the transaction, the chief executive officer now directly owns 225,018 shares in the company, valued at approximately $11,259,900.72. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 73,577 shares of company stock worth $3,717,951. Insiders own 1.70% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the stock. Neuburgh Advisers LLC raised its position in Big Lots by 14.3% during the first quarter. Neuburgh Advisers LLC now owns 2,112 shares of the company’s stock valued at $103,000 after acquiring an additional 264 shares in the last quarter. IFP Advisors Inc raised its position in Big Lots by 13.6% during the second quarter. IFP Advisors Inc now owns 2,334 shares of the company’s stock valued at $113,000 after acquiring an additional 280 shares in the last quarter. FNY Managed Accounts LLC bought a new position in Big Lots during the first quarter valued at approximately $123,000. LS Investment Advisors LLC raised its position in Big Lots by 19.4% during the second quarter. LS Investment Advisors LLC now owns 3,668 shares of the company’s stock valued at $177,000 after acquiring an additional 596 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. raised its position in Big Lots by 1.8% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 3,945 shares of the company’s stock valued at $191,000 after acquiring an additional 68 shares in the last quarter.
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.
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