Big Lots, Inc. (BIG) Rating Increased to Buy at BidaskClub

Big Lots, Inc. (NYSE:BIG) was upgraded by research analysts at BidaskClub from a “hold” rating to a “buy” rating in a report issued on Wednesday.

A number of other research analysts have also recently commented on the company. Citigroup Inc. restated a “buy” rating and set a $62.00 price target (up from $61.00) on shares of Big Lots in a research note on Friday, June 9th. Raymond James Financial, Inc. upgraded Big Lots from a “market perform” rating to a “strong-buy” rating and set a $60.00 price target on the stock in a research note on Wednesday, April 26th. Zacks Investment Research upgraded Big Lots from a “hold” rating to a “buy” rating and set a $56.00 price target on the stock in a research note on Monday, May 8th. ValuEngine cut Big Lots from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, Oppenheimer Holdings, Inc. set a $60.00 price target on Big Lots and gave the stock a “buy” rating in a research note on Saturday, May 27th. Four investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $58.00.

Big Lots (NYSE:BIG) opened at 50.99 on Wednesday. Big Lots has a 12-month low of $42.40 and a 12-month high of $56.54. The firm’s 50-day moving average price is $48.26 and its 200 day moving average price is $49.33. The stock has a market capitalization of $2.25 billion, a P/E ratio of 13.84 and a beta of 0.85.

Big Lots (NYSE:BIG) last released its quarterly earnings results on Friday, May 26th. The company reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.16. Big Lots had a return on equity of 29.88% and a net margin of 3.20%. The company had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.31 billion. During the same period in the prior year, the firm earned $0.82 earnings per share. The firm’s revenue was down 1.2% compared to the same quarter last year. On average, equities analysts anticipate that Big Lots will post $4.20 EPS for the current year.

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In other news, CEO David J. Campisi sold 28,875 shares of the company’s stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $50.04, for a total transaction of $1,444,905.00. Following the sale, the chief executive officer now owns 225,018 shares of the company’s stock, valued at $11,259,900.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Lisa M. Bachmann sold 40,000 shares of the company’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $51.00, for a total value of $2,040,000.00. Following the sale, the insider now directly owns 48,089 shares in the company, valued at approximately $2,452,539. The disclosure for this sale can be found here. Insiders have sold 70,975 shares of company stock worth $3,593,055 in the last ninety days. Corporate insiders own 1.70% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. Huntington National Bank raised its stake in Big Lots by 88.9% in the first quarter. Huntington National Bank now owns 2,065 shares of the company’s stock worth $101,000 after buying an additional 972 shares in the last quarter. Advisors Preferred LLC bought a new stake in Big Lots during the first quarter worth $101,000. Neuburgh Advisers LLC raised its stake in Big Lots by 14.3% in the first quarter. Neuburgh Advisers LLC now owns 2,112 shares of the company’s stock worth $103,000 after buying an additional 264 shares in the last quarter. IFP Advisors Inc raised its stake in Big Lots by 13.6% in the second quarter. IFP Advisors Inc now owns 2,334 shares of the company’s stock worth $113,000 after buying an additional 280 shares in the last quarter. Finally, FNY Managed Accounts LLC bought a new stake in Big Lots during the first quarter worth $123,000.

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.

Analyst Recommendations for Big Lots (NYSE:BIG)

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