Big Lots (NYSE:BIG) Downgraded by Zacks Investment Research to Hold

Big Lots (NYSE:BIG) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Tuesday, November 21st.

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.”

Several other equities research analysts also recently commented on BIG. Deutsche Bank upgraded shares of Big Lots from a “hold” rating to a “buy” rating and upped their price target for the company from $55.00 to $56.00 in a research report on Tuesday, July 25th. BidaskClub downgraded shares of Big Lots from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. Oppenheimer set a $60.00 target price on shares of Big Lots and gave the stock a “buy” rating in a research report on Friday, August 25th. Loop Capital set a $64.00 target price on shares of Big Lots and gave the stock a “buy” rating in a research report on Wednesday, August 30th. Finally, Piper Jaffray Companies reiterated a “hold” rating and issued a $52.00 target price on shares of Big Lots in a research report on Friday, September 1st. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $60.64.

Shares of Big Lots (NYSE:BIG) traded up $0.97 during trading hours on Tuesday, reaching $58.96. 1,592,357 shares of the company were exchanged, compared to its average volume of 1,023,004. The company has a market capitalization of $2,496.62, a PE ratio of 14.20, a price-to-earnings-growth ratio of 1.02 and a beta of 0.99. Big Lots has a 1 year low of $45.10 and a 1 year high of $60.18. The company has a quick ratio of 0.24, a current ratio of 1.66 and a debt-to-equity ratio of 0.66.

Big Lots (NYSE:BIG) last issued its earnings results on Friday, December 1st. The company reported $0.06 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.02. The firm had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.11 billion. Big Lots had a net margin of 3.36% and a return on equity of 30.17%. The firm’s revenue for the quarter was up .5% compared to the same quarter last year. During the same period last year, the firm posted $0.04 earnings per share. research analysts predict that Big Lots will post 4.27 earnings per share for the current fiscal year.

In other Big Lots news, CEO David J. Campisi sold 96,940 shares of the firm’s stock in a transaction on Wednesday, September 27th. The shares were sold at an average price of $53.00, for a total value of $5,137,820.00. Following the sale, the chief executive officer now directly owns 99,203 shares in the company, valued at approximately $5,257,759. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ronald A. Robins, Jr. sold 1,000 shares of the firm’s stock in a transaction dated Monday, September 25th. The stock was sold at an average price of $51.00, for a total transaction of $51,000.00. Following the transaction, the insider now directly owns 7,925 shares of the company’s stock, valued at $404,175. The disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.

Several large investors have recently added to or reduced their stakes in BIG. IFP Advisors Inc lifted its holdings in Big Lots by 13.6% during the 2nd quarter. IFP Advisors Inc now owns 2,334 shares of the company’s stock valued at $113,000 after purchasing an additional 280 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its holdings in Big Lots by 78.3% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 2,858 shares of the company’s stock valued at $144,000 after purchasing an additional 1,255 shares during the last quarter. LS Investment Advisors LLC lifted its holdings in Big Lots by 19.4% during the 2nd quarter. LS Investment Advisors LLC now owns 3,668 shares of the company’s stock valued at $177,000 after purchasing an additional 596 shares during the last quarter. Whittier Trust Co. bought a new position in Big Lots during the 3rd quarter valued at about $178,000. Finally, First Quadrant L P CA bought a new position in Big Lots during the 3rd quarter valued at about $182,000.

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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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Analyst Recommendations for Big Lots (NYSE:BIG)

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