Raymond James reissued their outperform rating on shares of Big Lots (NYSE:BIG) in a research report released on Monday morning, MarketBeat.com reports. The firm currently has a $60.00 target price on the stock.
BIG has been the topic of several other reports. Northcoast Research restated a neutral rating on shares of Big Lots in a research report on Monday, March 12th. UBS lowered Big Lots from a strong-buy rating to an outperform rating in a research report on Monday. Loop Capital reduced their price target on Big Lots from $70.00 to $60.00 and set a buy rating on the stock in a research report on Monday, March 12th. Zacks Investment Research upgraded Big Lots from a hold rating to a buy rating and set a $69.00 price target on the stock in a research report on Wednesday, January 31st. Finally, KeyCorp restated an overweight rating and set a $58.00 price target (down from $63.00) on shares of Big Lots in a research report on Monday, March 12th. Eight investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus target price of $58.25.
Shares of Big Lots stock opened at $43.74 on Monday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.25 and a current ratio of 1.73. The stock has a market cap of $1,798.58, a PE ratio of 9.83, a PEG ratio of 0.65 and a beta of 1.13. Big Lots has a 12 month low of $41.04 and a 12 month high of $64.42.
Big Lots (NYSE:BIG) last announced its quarterly earnings data on Friday, March 9th. The company reported $2.57 EPS for the quarter, beating the consensus estimate of $2.43 by $0.14. Big Lots had a return on equity of 31.12% and a net margin of 3.60%. The firm had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same period in the prior year, the company earned $2.26 EPS. The company’s revenue was up 4.0% on a year-over-year basis. research analysts forecast that Big Lots will post 4.88 EPS for the current year.
Big Lots announced that its board has authorized a stock repurchase program on Friday, March 9th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the company to reacquire shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 6th. Shareholders of record on Friday, March 23rd were issued a $0.30 dividend. The ex-dividend date was Thursday, March 22nd. This represents a $1.20 annualized dividend and a yield of 2.74%. This is a boost from Big Lots’s previous quarterly dividend of $0.25. Big Lots’s dividend payout ratio (DPR) is 26.97%.
In other Big Lots news, CEO David J. Campisi sold 25,414 shares of the stock in a transaction that occurred on Wednesday, March 14th. The stock was sold at an average price of $47.29, for a total value of $1,201,828.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David J. Campisi sold 20,657 shares of the stock in a transaction that occurred on Wednesday, April 4th. The stock was sold at an average price of $43.73, for a total value of $903,330.61. Following the completion of the sale, the chief executive officer now owns 170,560 shares of the company’s stock, valued at approximately $7,458,588.80. The disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. C M Bidwell & Associates Ltd. purchased a new position in shares of Big Lots in the 4th quarter valued at approximately $104,000. We Are One Seven LLC purchased a new position in shares of Big Lots in the 4th quarter valued at approximately $110,000. Cerebellum GP LLC purchased a new position in shares of Big Lots in the 4th quarter valued at approximately $128,000. Pitcairn Co. purchased a new position in shares of Big Lots in the 4th quarter valued at approximately $200,000. Finally, Groesbeck Investment Management Corp NJ purchased a new position in shares of Big Lots in the 4th quarter valued at approximately $202,000.
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About Big Lots
Big Lots, Inc, through its subsidiaries, operates as a non-traditional, discount retailer in the United States. The company offers products under various merchandising categories, such as food category that includes beverage and grocery, candy and snacks, and specialty foods departments; consumables category, which comprises health and beauty, plastics, paper, chemical, and pet departments; soft home category that consists of home décor, frames, fashion bedding, utility bedding, bath, window, decorative textile, and area rugs departments; hard home category, including small appliances, table top, food preparation, stationery, greeting cards, and home maintenance departments; and furniture category consisting of upholstery, mattress, ready-to-assemble, and case goods departments.
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