Big Lots, Inc. (NYSE:BIG) Upgraded at Zacks Investment Research
Zacks Investment Research upgraded shares of Big Lots, Inc. (NYSE:BIG) from a hold rating to a buy rating in a research report report published on Tuesday, July 11th. They currently have $52.00 price target on the stock.
According to Zacks, “Shares of Big Lots have declined over the past six months. However, the company's strategic endeavors, recent uptrend in the gross margin and positive earnings surprise streak in the last six quarters, all indicate that stock might recover in the near term. In the first-quarter fiscal 2017, the company not only reported robust earnings but also surpassed the guidance range provided previously. Moreover, following better-than-expected first-quarter earnings the company raised fiscal 2017 guidance and now expects adjusted earnings in the $4.05–$4.20, up from the earlier guidance of $3.95–$4.10. While the company’s dismal top-line performance in the trailing four quarters has been a cause of worry, its furniture financing programs has been consistently gaining traction. Further, the challenging retail landscape, aggressive promotional strategies and waning store traffic might weigh on the performance.”
Other equities research analysts have also issued reports about the company. Loop Capital reiterated a buy rating and issued a $64.00 price objective on shares of Big Lots in a research note on Tuesday, May 30th. Oppenheimer Holdings, Inc. set a $60.00 price objective on Big Lots and gave the company a buy rating in a research note on Saturday, May 27th. Citigroup Inc. reiterated a buy rating and issued a $62.00 price objective (up from $61.00) on shares of Big Lots in a research note on Friday, June 9th. ValuEngine lowered Big Lots from a buy rating to a hold rating in a research note on Friday, June 2nd. Finally, BidaskClub raised Big Lots from a sell rating to a hold rating in a report on Tuesday, July 4th. Five research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. The company has an average rating of Buy and an average price target of $58.00.
Big Lots (NYSE:BIG) traded up 1.06% during trading on Tuesday, reaching $51.30. The company’s stock had a trading volume of 747,422 shares. The company’s 50-day moving average is $48.19 and its 200-day moving average is $49.30. The company has a market capitalization of $2.27 billion, a P/E ratio of 13.93 and a beta of 0.85. Big Lots has a 1-year low of $42.40 and a 1-year high of $56.54.
Big Lots (NYSE:BIG) last issued its quarterly earnings results on Friday, May 26th. The company reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.16. Big Lots had a return on equity of 29.88% and a net margin of 3.20%. The firm had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same period in the previous year, the company posted $0.82 earnings per share. The company’s quarterly revenue was down 1.2% compared to the same quarter last year. Equities analysts anticipate that Big Lots will post $4.20 EPS for the current year.
COPYRIGHT VIOLATION WARNING: “Big Lots, Inc. (NYSE:BIG) Upgraded at Zacks Investment Research” was posted by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this news story on another website, it was copied illegally and republished in violation of U.S. and international trademark & copyright legislation. The legal version of this news story can be read at https://www.thecerbatgem.com/2017/08/07/big-lots-inc-nysebig-stock-rating-upgraded-by-zacks-investment-research-updated-updated-updated.html.
In related news, CEO David J. Campisi sold 28,875 shares of the company’s stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $50.04, for a total value of $1,444,905.00. Following the completion of the sale, the chief executive officer now owns 225,018 shares in the company, valued at approximately $11,259,900.72. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.70% of the stock is owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in BIG. Quantitative Systematic Strategies LLC purchased a new stake in Big Lots during the first quarter worth approximately $354,000. Nisa Investment Advisors LLC boosted its stake in Big Lots by 9.4% in the first quarter. Nisa Investment Advisors LLC now owns 14,770 shares of the company’s stock worth $719,000 after buying an additional 1,270 shares in the last quarter. Boston Advisors LLC boosted its stake in Big Lots by 10.4% in the first quarter. Boston Advisors LLC now owns 124,935 shares of the company’s stock worth $6,082,000 after buying an additional 11,810 shares in the last quarter. Louisiana State Employees Retirement System boosted its position in Big Lots by 2.7% in the first quarter. Louisiana State Employees Retirement System now owns 11,300 shares of the company’s stock worth $550,000 after buying an additional 300 shares during the period. Finally, Fox Run Management L.L.C. purchased a new position in Big Lots during the first quarter worth about $494,000.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Stock Ratings for Big Lots Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Big Lots Inc. and related stocks with our FREE daily email newsletter.