Investment analysts at Bank of America assumed coverage on shares of Big Lots (NYSE:BIG) in a research note issued to investors on Monday. The brokerage set a “buy” rating and a $56.00 price target on the stock. Bank of America’s price target would suggest a potential upside of 32.29% from the stock’s previous close.
BIG has been the subject of a number of other research reports. ValuEngine lowered shares of Big Lots from a “sell” rating to a “strong sell” rating in a report on Thursday, September 13th. Loop Capital lifted their target price on shares of Big Lots from $48.00 to $48.00 and gave the stock a “hold” rating in a report on Monday, August 27th. Goldman Sachs Group started coverage on shares of Big Lots in a report on Thursday, July 19th. They set a “buy” rating and a $47.00 target price for the company. TheStreet raised shares of Big Lots from a “c+” rating to a “b-” rating in a report on Wednesday, August 8th. Finally, Zacks Investment Research raised shares of Big Lots from a “strong sell” rating to a “hold” rating and set a $51.00 price target for the company in a report on Wednesday, August 1st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the company’s stock. Big Lots presently has a consensus rating of “Hold” and an average price target of $50.85.
BIG traded down $0.39 during trading on Monday, reaching $42.33. 24,327 shares of the company’s stock were exchanged, compared to its average volume of 1,112,415. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.32 and a current ratio of 1.69. Big Lots has a fifty-two week low of $36.20 and a fifty-two week high of $64.42. The firm has a market capitalization of $1.71 billion, a PE ratio of 9.54, a P/E/G ratio of 0.80 and a beta of 0.96.
Big Lots (NYSE:BIG) last released its earnings results on Friday, August 31st. The company reported $0.59 EPS for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.08). Big Lots had a return on equity of 27.83% and a net margin of 3.14%. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.23 billion. During the same period in the prior year, the firm posted $0.67 EPS. Big Lots’s revenue was up .2% on a year-over-year basis. Equities analysts forecast that Big Lots will post 4.46 EPS for the current year.
In related news, EVP Lisa M. Bachmann sold 29,733 shares of the business’s stock in a transaction on Wednesday, August 22nd. The shares were sold at an average price of $48.85, for a total value of $1,452,457.05. Following the sale, the executive vice president now directly owns 61,630 shares of the company’s stock, valued at approximately $3,010,625.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Lisa M. Bachmann sold 7,517 shares of the business’s stock in a transaction on Monday, August 20th. The shares were sold at an average price of $48.85, for a total transaction of $367,205.45. Following the completion of the sale, the executive vice president now directly owns 61,630 shares in the company, valued at $3,010,625.50. The disclosure for this sale can be found here. 1.30% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of BIG. Kessler Investment Group LLC bought a new stake in Big Lots in the 2nd quarter valued at $129,000. Itau Unibanco Holding S.A. lifted its position in Big Lots by 87.4% in the 2nd quarter. Itau Unibanco Holding S.A. now owns 3,569 shares of the company’s stock valued at $149,000 after acquiring an additional 1,665 shares in the last quarter. Meadow Creek Investment Management LLC lifted its position in Big Lots by 58.9% in the 2nd quarter. Meadow Creek Investment Management LLC now owns 4,880 shares of the company’s stock valued at $204,000 after acquiring an additional 1,808 shares in the last quarter. Bridgewater Associates LP bought a new stake in Big Lots in the 2nd quarter valued at $211,000. Finally, BKS Advisors LLC bought a new stake in Big Lots in the 3rd quarter valued at $221,000.
Big Lots Company Profile
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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