Big Lots, Inc. (BIG) PT Set at $52.00 by Piper Jaffray Companies
Big Lots, Inc. (NYSE:BIG) has been assigned a $52.00 price objective by equities research analysts at Piper Jaffray Companies in a research note issued to investors on Sunday. The brokerage currently has a “hold” rating on the stock. Piper Jaffray Companies’ price target would suggest a potential upside of 0.15% from the stock’s previous close.
Several other research analysts have also issued reports on BIG. BidaskClub cut Big Lots from a “hold” rating to a “sell” rating in a report on Thursday, June 22nd. Citigroup Inc. reiterated a “buy” rating and set a $62.00 price objective (up previously from $61.00) on shares of Big Lots in a research report on Friday, June 9th. Loop Capital set a $64.00 price objective on Big Lots and gave the stock a “buy” rating in a research note on Wednesday, August 30th. Zacks Investment Research lowered Big Lots from a “buy” rating to a “hold” rating in a research note on Friday, September 8th. Finally, Deutsche Bank AG raised Big Lots from a “hold” rating to a “buy” rating and raised their price objective for the stock from $55.00 to $56.00 in a research note on Tuesday, July 25th. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $57.54.
Big Lots (NYSE:BIG) opened at 51.92 on Friday. The stock has a market cap of $2.20 billion, a P/E ratio of 13.46 and a beta of 0.96. Big Lots has a 52-week low of $42.40 and a 52-week high of $56.54. The firm’s 50-day moving average price is $49.59 and its 200 day moving average price is $48.96.
Big Lots (NYSE:BIG) last released its earnings results on Friday, August 25th. The company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.05. Big Lots had a net margin of 3.31% and a return on equity of 30.32%. The business had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.21 billion. During the same period in the previous year, the firm earned $0.52 EPS. The business’s revenue for the quarter was up 1.5% on a year-over-year basis. Equities analysts predict that Big Lots will post $4.24 earnings per share for the current year.
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In other news, 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 value of $1,444,905.00. Following the completion of the sale, the chief executive officer now directly owns 225,018 shares of the company’s stock, valued at $11,259,900.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David J. Campisi sold 96,940 shares of the stock in a transaction that occurred on Wednesday, September 27th. The stock was sold at an average price of $53.00, for a total transaction of $5,137,820.00. Following the completion of the sale, the chief executive officer now directly owns 99,203 shares of the company’s stock, valued at $5,257,759. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 171,517 shares of company stock worth $8,906,771. Company insiders own 1.70% of the company’s stock.
Several hedge funds have recently bought and sold shares of the stock. Wells Fargo & Company MN grew its position in Big Lots by 8.0% during the second quarter. Wells Fargo & Company MN now owns 2,363,889 shares of the company’s stock valued at $114,175,000 after purchasing an additional 175,972 shares in the last quarter. Paloma Partners Management Co increased its stake in Big Lots by 44.6% in the 1st quarter. Paloma Partners Management Co now owns 33,287 shares of the company’s stock valued at $1,621,000 after buying an additional 10,269 shares during the period. State Street Corp increased its stake in Big Lots by 0.8% in the 1st quarter. State Street Corp now owns 1,611,995 shares of the company’s stock valued at $78,474,000 after buying an additional 12,308 shares during the period. BlackRock Inc. increased its stake in Big Lots by 3,846.5% in the 1st quarter. BlackRock Inc. now owns 6,101,011 shares of the company’s stock valued at $296,996,000 after buying an additional 5,946,417 shares during the period. Finally, Capital One National Association increased its stake in Big Lots by 5.3% in the 2nd quarter. Capital One National Association now owns 43,119 shares of the company’s stock valued at $2,083,000 after buying an additional 2,159 shares during the period.
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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