Piper Jaffray Companies Reiterates Hold Rating for Big Lots, Inc. (BIG)
Big Lots, Inc. (NYSE:BIG)‘s stock had its “hold” rating reissued by analysts at Piper Jaffray Companies in a research report issued to clients and investors on Friday. They presently have a $52.00 price target on the stock. Piper Jaffray Companies’ price objective points to a potential upside of 9.24% from the stock’s previous close.
BIG has been the subject of several other research reports. Oppenheimer Holdings, Inc. set a $60.00 price objective on Big Lots and gave the stock a “buy” rating in a report on Saturday, May 27th. BidaskClub raised Big Lots from a “hold” rating to a “buy” rating in a report on Wednesday, August 9th. Zacks Investment Research raised Big Lots from a “hold” rating to a “buy” rating and set a $56.00 price objective for the company in a report on Friday, July 28th. Loop Capital reissued a “buy” rating and issued a $64.00 price objective on shares of Big Lots in a report on Tuesday, May 30th. Finally, Deutsche Bank AG raised Big Lots from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $55.00 to $56.00 in a report on Tuesday, July 25th. Six investment 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 company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $57.67.
Shares of Big Lots (NYSE BIG) opened at 47.60 on Friday. The company has a market cap of $2.05 billion, a PE ratio of 12.34 and a beta of 0.85. The stock has a 50 day moving average of $49.49 and a 200-day moving average of $49.30. 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 quarterly earnings data on Friday, August 25th. The company reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.05. Big Lots had a return on equity of 30.32% and a net margin of 3.31%. The company had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.21 billion. During the same quarter last year, the firm posted $0.52 EPS. The firm’s revenue for the quarter was up 1.5% on a year-over-year basis. Equities analysts forecast that Big Lots will post $4.24 earnings per share for the current year.
In other news, Director Russell Solt sold 2,100 shares of Big Lots stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $51.50, for a total transaction of $108,150.00. Following the completion of the sale, the director now owns 10,041 shares in the company, valued at approximately $517,111.50. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO David J. Campisi sold 28,875 shares of Big Lots stock in a transaction dated 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 sale, the chief executive officer now owns 225,018 shares of the company’s stock, valued at approximately $11,259,900.72. The disclosure for this sale can be found here. In the last quarter, insiders have sold 73,577 shares of company stock valued at $3,717,951. Corporate insiders own 1.70% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. Dynamic Technology Lab Private Ltd increased its stake in shares of Big Lots by 17.3% in the second quarter. Dynamic Technology Lab Private Ltd now owns 12,880 shares of the company’s stock worth $622,000 after buying an additional 1,897 shares during the period. Public Employees Retirement System of Ohio increased its stake in shares of Big Lots by 1.6% in the second quarter. Public Employees Retirement System of Ohio now owns 23,978 shares of the company’s stock worth $1,158,000 after buying an additional 369 shares during the period. Dean Capital Management increased its stake in shares of Big Lots by 51.7% in the second quarter. Dean Capital Management now owns 65,815 shares of the company’s stock worth $3,179,000 after buying an additional 22,430 shares during the period. Sterling Capital Management LLC increased its stake in shares of Big Lots by 21.7% in the second quarter. Sterling Capital Management LLC now owns 15,655 shares of the company’s stock worth $756,000 after buying an additional 2,794 shares during the period. Finally, 361 Capital LLC increased its stake in shares of Big Lots by 94.4% in the second quarter. 361 Capital LLC now owns 35,574 shares of the company’s stock worth $1,718,000 after buying an additional 17,278 shares during the period.
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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