Big Lots, Inc. (BIG) Upgraded to “Buy” by Deutsche Bank AG
Big Lots, Inc. (NYSE:BIG) was upgraded by investment analysts at Deutsche Bank AG from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday, July 25th, MarketBeat reports. The firm currently has a $56.00 price target on the stock, up from their previous price target of $55.00. Deutsche Bank AG’s target price suggests a potential upside of 13.25% from the company’s previous close.
A number of other brokerages have also issued reports on BIG. Zacks Investment Research raised Big Lots from a “hold” rating to a “buy” rating and set a $56.00 target price on the stock in a research report on Monday, May 8th. Citigroup Inc. restated a “buy” rating and issued a $62.00 price target (up previously from $61.00) on shares of Big Lots in a research note on Friday, June 9th. BidaskClub downgraded shares of Big Lots from a “hold” rating to a “sell” rating in a research note on Thursday, June 22nd. ValuEngine downgraded shares of Big Lots from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, Raymond James Financial, Inc. upgraded shares of Big Lots from a “market perform” rating to a “strong-buy” rating and set a $60.00 price target for the company in a research note on Wednesday, April 26th. 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 stock. The stock has an average rating of “Buy” and an average price target of $58.09.
Shares of Big Lots (NYSE:BIG) traded down 0.60% during mid-day trading on Tuesday, reaching $49.45. The company had a trading volume of 847,049 shares. Big Lots has a one year low of $42.40 and a one year high of $56.54. The firm has a 50 day moving average of $49.13 and a 200-day moving average of $49.41. The stock has a market capitalization of $2.19 billion, a P/E ratio of 13.43 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, beating the Thomson Reuters’ consensus estimate of $0.99 by $0.16. The firm had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.31 billion. Big Lots had a net margin of 3.20% and a return on equity of 29.88%. The business’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.82 EPS. Analysts forecast that Big Lots will post $4.20 EPS for the current fiscal year.
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In other news, Director Russell Solt sold 2,100 shares of the stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $51.50, for a total value of $108,150.00. Following the sale, the director now directly owns 10,041 shares in the company, valued at $517,111.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David J. Campisi sold 28,875 shares of the 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 completion of the sale, the chief executive officer now owns 225,018 shares in the company, valued at $11,259,900.72. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 70,975 shares of company stock valued at $3,593,055. 1.70% of the stock is currently owned by corporate insiders.
Hedge funds have recently made changes to their positions in the company. Huntington National Bank raised its stake in shares of 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 during the period. Advisors Preferred LLC purchased a new stake in shares of Big Lots during the first quarter worth about $101,000. Neuburgh Advisers LLC raised its stake in shares of 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 during the period. IFP Advisors Inc increased its position 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 position in Big Lots during the first quarter worth $123,000.
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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