Big Lots (BIG) Lowered to “Strong Sell” at ValuEngine

ValuEngine downgraded shares of Big Lots (NYSE:BIG) from a sell rating to a strong sell rating in a report published on Wednesday, ValuEngine reports.

A number of other research firms also recently commented on BIG. Zacks Investment Research upgraded shares of Big Lots from a hold rating to a buy rating and set a $42.00 price target on the stock in a research report on Wednesday, May 1st. Bank of America boosted their price target on shares of Big Lots from $40.00 to $45.00 and gave the stock a buy rating in a research report on Monday, March 11th. Deutsche Bank downgraded shares of Big Lots from a buy rating to a hold rating in a research report on Thursday, February 28th. Raymond James boosted their price target on shares of Big Lots from $36.00 to $40.00 and gave the stock an outperform rating in a research report on Monday, March 11th. Finally, Morgan Stanley boosted their target price on shares of Big Lots from $33.00 to $36.00 and gave the stock an equal weight rating in a report on Monday, March 11th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company. The company currently has a consensus rating of Hold and a consensus price target of $41.93.

Shares of BIG stock traded down $0.40 during midday trading on Wednesday, reaching $33.63. 7,714 shares of the company were exchanged, compared to its average volume of 1,360,658. Big Lots has a 12 month low of $26.21 and a 12 month high of $50.35. The company has a market capitalization of $1.34 billion, a price-to-earnings ratio of 8.34, a price-to-earnings-growth ratio of 1.23 and a beta of 1.27. The company has a current ratio of 1.77, a quick ratio of 0.25 and a debt-to-equity ratio of 0.75.

Big Lots (NYSE:BIG) last released its quarterly earnings results on Friday, March 8th. The company reported $2.68 EPS for the quarter, topping analysts’ consensus estimates of $2.30 by $0.38. Big Lots had a net margin of 3.00% and a return on equity of 25.67%. The company had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.60 billion. During the same period in the previous year, the firm earned $2.57 EPS. Big Lots’s revenue was down 2.7% on a year-over-year basis. On average, equities research analysts predict that Big Lots will post 3.67 earnings per share for the current year.

Big Lots announced that its board has approved a share repurchase program on Friday, March 8th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 3.6% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

In other news, insider Nicholas E. Padovano sold 4,734 shares of Big Lots stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $38.19, for a total value of $180,791.46. Following the transaction, the insider now directly owns 10,776 shares of the company’s stock, valued at $411,535.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Michael Allen Schlonsky sold 5,000 shares of Big Lots stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $38.99, for a total transaction of $194,950.00. Following the completion of the transaction, the executive vice president now directly owns 67,296 shares in the company, valued at $2,623,871.04. The disclosure for this sale can be found here. Insiders sold a total of 11,380 shares of company stock worth $434,290 over the last quarter. Insiders own 1.10% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its position in shares of Big Lots by 24.4% in the first quarter. BlackRock Inc. now owns 6,030,976 shares of the company’s stock worth $229,299,000 after acquiring an additional 1,184,717 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Big Lots by 15.1% during the first quarter. Dimensional Fund Advisors LP now owns 1,997,770 shares of the company’s stock valued at $75,954,000 after purchasing an additional 262,276 shares in the last quarter. FMR LLC grew its position in Big Lots by 178.5% during the fourth quarter. FMR LLC now owns 1,846,371 shares of the company’s stock valued at $53,397,000 after purchasing an additional 1,183,400 shares in the last quarter. Bank of New York Mellon Corp grew its position in Big Lots by 12.7% during the fourth quarter. Bank of New York Mellon Corp now owns 1,133,425 shares of the company’s stock valued at $32,779,000 after purchasing an additional 127,667 shares in the last quarter. Finally, Deprince Race & Zollo Inc. grew its position in Big Lots by 1.8% during the fourth quarter. Deprince Race & Zollo Inc. now owns 755,176 shares of the company’s stock valued at $21,840,000 after purchasing an additional 13,524 shares in the last quarter.

Big Lots Company Profile

Big Lots, Inc, through its subsidiaries, operates as a 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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Analyst Recommendations for Big Lots (NYSE:BIG)

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