Big Lots, Inc. (BIG) Lowered to Hold at Zacks Investment Research
Big Lots, Inc. (NYSE:BIG) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Tuesday.
According to Zacks, “Big Lots’ shares have outperformed the industry in the past six months owing to better-than-expected second-quarter fiscal 2017 results and encouraging earnings outlook. Moreover, the top line also surpassed the Zacks Consensus Estimate after missing the same in the trailing four quarters on account of robust performance of furniture and soft home. Following the results, management raised fiscal 2017 earnings guidance but remained somewhat cautious about its sales and comparable store sales performance. Sales growth for the full year is predicted to be in the range of 2-2.5%, compared with earlier guided range of 2-3%. Meanwhile, both furniture financing programs and soft home have been consistently gaining traction. However, challenging retail landscape, aggressive promotional strategies and waning store traffic might weigh on the performance. Softness in food and consumables, electronics/accessories and hard home also remain a deterrent.”
A number of other equities analysts also recently commented on the stock. KeyCorp restated a “buy” rating and issued a $58.00 target price on shares of Big Lots in a research note on Friday, November 10th. Piper Jaffray Companies set a $52.00 target price on shares of Big Lots and gave the stock a “hold” rating in a research note on Sunday, October 1st. Morgan Stanley began coverage on shares of Big Lots in a research note on Monday, September 25th. They issued an “overweight” rating and a $58.00 target price on the stock. Oppenheimer Holdings, Inc. reiterated a “buy” rating on shares of Big Lots in a research note on Wednesday, September 20th. Finally, ValuEngine upgraded shares of Big Lots from a “hold” rating to a “buy” rating in a research note on Friday, September 15th. Five equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $57.85.
Big Lots (NYSE BIG) opened at $55.70 on Tuesday. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.62 and a quick ratio of 0.27. The company has a market cap of $2,337.00, a PE ratio of 13.36, a price-to-earnings-growth ratio of 0.97 and a beta of 0.95. Big Lots has a one year low of $45.10 and a one year high of $56.54.
Big Lots (NYSE:BIG) last issued its earnings results on Friday, August 25th. The company reported $0.67 EPS for the quarter, topping the Zacks’ consensus estimate of $0.62 by $0.05. The business had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.21 billion. Big Lots had a net margin of 3.31% and a return on equity of 30.32%. The company’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.52 EPS. sell-side analysts anticipate that Big Lots will post 4.22 earnings per share for the current fiscal year.
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In other Big Lots news, insider Michael Allen Schlonsky sold 2,602 shares of the firm’s stock in a transaction that occurred on Tuesday, August 29th. The shares were sold at an average price of $48.00, for a total value of $124,896.00. Following the completion of the sale, the insider now directly owns 34,706 shares in the company, valued at $1,665,888. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO David J. Campisi sold 96,940 shares of the firm’s stock in a transaction that occurred on Wednesday, September 27th. The shares were 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 owns 99,203 shares of the company’s stock, valued at $5,257,759. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 100,542 shares of company stock valued at $5,313,716. 1.70% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the business. Dana Investment Advisors Inc. purchased a new position in shares of Big Lots in the third quarter worth $2,250,000. California Public Employees Retirement System raised its holdings in shares of Big Lots by 2.4% in the third quarter. California Public Employees Retirement System now owns 201,484 shares of the company’s stock worth $10,793,000 after buying an additional 4,758 shares during the last quarter. Jane Street Group LLC purchased a new position in shares of Big Lots in the third quarter worth $524,000. Vident Investment Advisory LLC purchased a new position in shares of Big Lots in the third quarter worth $2,959,000. Finally, Cornerstone Capital Management Holdings LLC. raised its holdings in shares of Big Lots by 71.8% in the third quarter. Cornerstone Capital Management Holdings LLC. now owns 29,900 shares of the company’s stock worth $1,601,000 after buying an additional 12,500 shares during the last quarter.
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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