Big Lots (NYSE:BIG) Downgraded to Sell at StockNews.com

StockNews.com cut shares of Big Lots (NYSE:BIG) from a hold rating to a sell rating in a report released on Thursday morning.

Several other analysts have also commented on BIG. Loop Capital lowered Big Lots from a hold rating to a sell rating in a report on Monday, February 12th. Telsey Advisory Group reduced their price objective on shares of Big Lots from $7.00 to $5.00 and set a market perform rating for the company in a research report on Tuesday, February 13th. Five investment analysts have rated the stock with a sell rating and one has given a hold rating to the stock. According to data from MarketBeat.com, Big Lots presently has a consensus rating of Reduce and an average target price of $5.25.

Big Lots Stock Performance

Shares of Big Lots stock traded down $0.02 during trading on Thursday, hitting $3.59. 965,218 shares of the company’s stock were exchanged, compared to its average volume of 939,742. Big Lots has a 52-week low of $3.13 and a 52-week high of $11.06. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.16 and a current ratio of 1.31. The stock has a market capitalization of $105.94 million, a price-to-earnings ratio of -0.22 and a beta of 2.33. The business has a 50-day simple moving average of $4.02 and a 200-day simple moving average of $5.03.

Big Lots (NYSE:BIG) last issued its earnings results on Thursday, March 7th. The company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.05). Big Lots had a negative return on equity of 90.53% and a negative net margin of 10.20%. The company had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.43 billion. During the same quarter in the previous year, the company earned ($0.28) EPS. The firm’s quarterly revenue was down 7.2% compared to the same quarter last year. On average, research analysts forecast that Big Lots will post -10.53 EPS for the current year.

Institutional Investors Weigh In On Big Lots

A number of institutional investors have recently made changes to their positions in the stock. Money Concepts Capital Corp lifted its position in shares of Big Lots by 2.9% during the third quarter. Money Concepts Capital Corp now owns 124,274 shares of the company’s stock worth $635,000 after purchasing an additional 3,481 shares in the last quarter. Barclays PLC lifted its holdings in Big Lots by 265.1% during the 3rd quarter. Barclays PLC now owns 210,277 shares of the company’s stock worth $1,073,000 after buying an additional 152,677 shares in the last quarter. Blueshift Asset Management LLC purchased a new position in Big Lots in the 3rd quarter valued at approximately $95,000. Clifford Capital Partners LLC boosted its position in Big Lots by 3.9% in the 3rd quarter. Clifford Capital Partners LLC now owns 991,224 shares of the company’s stock valued at $5,065,000 after buying an additional 37,310 shares during the period. Finally, Dark Forest Capital Management LP grew its stake in shares of Big Lots by 549.3% in the third quarter. Dark Forest Capital Management LP now owns 117,036 shares of the company’s stock worth $598,000 after acquiring an additional 99,011 shares in the last quarter. 75.96% of the stock is currently owned by institutional investors and hedge funds.

About Big Lots

Big Lots, Inc, through its subsidiaries, operates as a home discount retailer in the United States. The company offers products under various merchandising categories, such as furniture category that includes upholstery, mattresses, home décor, case goods, and ready-to-assemble departments; seasonal category, which comprises patio furniture, gazebos, Christmas trim, lawn and garden, and other holiday departments; soft home category consists of apparel, hosiery, jewelry; frames, fashion and utility bedding, bath, window, decorative textiles, and area rugs departments; and food category that includes beverages and grocery, specialty foods, and candy and snacks departments.