Big Lots (NYSE:BIG) had its price objective dropped by research analysts at JPMorgan Chase from $55.00 to $44.00 in a research note issued on Tuesday. The brokerage currently has a “neutral” rating on the stock. JPMorgan Chase’s target price indicates a potential upside of 5.52% from the stock’s previous close.
Other equities analysts also recently issued reports about the company. Telsey Advisory Group reaffirmed a “market perform” rating and set a $55.00 price target (down from $65.00) on shares of Big Lots in a research report on Monday, March 12th. Barclays reaffirmed a “hold” rating and set a $50.00 price target on shares of Big Lots in a research report on Thursday, March 15th. Citigroup reaffirmed a “hold” rating and set a $56.00 price target on shares of Big Lots in a research report on Tuesday, March 13th. TheStreet downgraded Big Lots from a “b-” rating to a “c+” rating in a research report on Friday, April 13th. Finally, Loop Capital reissued a “buy” rating and issued a $70.00 target price on shares of Big Lots in a research report on Monday, January 29th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $57.15.
Shares of Big Lots traded up $0.29, reaching $41.70, during trading hours on Tuesday, Marketbeat reports. 6,400 shares of the company’s stock were exchanged, compared to its average volume of 1,043,252. The company has a market cap of $1.75 billion, a PE ratio of 9.37, a PEG ratio of 0.63 and a beta of 1.13. The company has a current ratio of 1.73, a quick ratio of 0.25 and a debt-to-equity ratio of 0.30. Big Lots has a fifty-two week low of $39.48 and a fifty-two week high of $64.42.
Big Lots (NYSE:BIG) last issued its quarterly earnings results on Friday, March 9th. The company reported $2.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.43 by $0.14. The business had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.65 billion. Big Lots had a return on equity of 31.12% and a net margin of 3.60%. The business’s quarterly revenue was up 4.0% on a year-over-year basis. During the same period in the prior year, the firm posted $2.26 earnings per share. equities analysts forecast that Big Lots will post 4.88 earnings per share for the current year.
Big Lots declared that its board has initiated a stock repurchase plan on Friday, March 9th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.
In other Big Lots news, CEO David J. Campisi sold 25,414 shares of the company’s stock in a transaction on Wednesday, March 14th. The shares were sold at an average price of $47.29, for a total value of $1,201,828.06. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO David J. Campisi sold 20,657 shares of the company’s stock in a transaction on Wednesday, April 4th. The shares were sold at an average price of $43.73, for a total transaction of $903,330.61. Following the completion of the sale, the chief executive officer now directly owns 170,560 shares in the company, valued at $7,458,588.80. The disclosure for this sale can be found here. 1.30% of the stock is owned by corporate insiders.
Large investors have recently bought and sold shares of the business. C M Bidwell & Associates Ltd. purchased a new stake in Big Lots in the fourth quarter valued at $104,000. We Are One Seven LLC purchased a new stake in Big Lots in the fourth quarter valued at $110,000. Cerebellum GP LLC purchased a new stake in Big Lots in the fourth quarter valued at $128,000. Point72 Asia Hong Kong Ltd purchased a new stake in Big Lots in the first quarter valued at $135,000. Finally, Pitcairn Co. purchased a new stake in shares of Big Lots during the 4th quarter worth about $200,000.
About Big Lots
Big Lots, Inc, through its subsidiaries, operates as a community retailer in the United States. The company offers products under various merchandising categories, such as furniture category that includes upholstery, mattress, case goods, and ready-to-assemble departments; seasonal category, which comprises Christmas trim, lawn and garden, summer, and other holiday departments; soft home category that consists of fashion and utility bedding, bath, window, decorative textile, home organization, area rugs, home décor, and frames departments; and food category that includes beverage and grocery, candy and snacks, and specialty foods departments.
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