ValuEngine upgraded shares of Big Lots, Inc. (NYSE:BIG) from a hold rating to a buy rating in a research note released on Friday morning.
Other analysts also recently issued research reports about the stock. Zacks Investment Research upgraded shares of Big Lots from a hold rating to a buy rating and set a $56.00 price objective for the company in a research report on Friday, July 28th. Deutsche Bank AG upgraded shares of Big Lots from a hold rating to a buy rating and boosted their price objective for the stock from $55.00 to $56.00 in a research report on Tuesday, July 25th. Citigroup Inc. restated a buy rating and set a $62.00 price objective (up previously from $61.00) on shares of Big Lots in a research report on Friday, June 9th. Loop Capital restated a buy rating and set a $64.00 price objective on shares of Big Lots in a research report on Tuesday, May 30th. Finally, Oppenheimer Holdings, Inc. set a $60.00 price objective on shares of Big Lots and gave the stock a buy rating in a research report on Saturday, May 27th. Four equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of Buy and a consensus target price of $57.50.
Big Lots (NYSE BIG) traded up 1.34% on Friday, hitting $50.02. 1,476,831 shares of the company’s stock were exchanged. The company’s 50-day moving average price is $49.47 and its 200-day moving average price is $49.03. Big Lots has a 12-month low of $42.40 and a 12-month high of $56.54. The company has a market cap of $2.12 billion, a PE ratio of 12.97 and a beta of 0.92.
Big Lots (NYSE:BIG) last issued its quarterly earnings data on Friday, August 25th. The company reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.05. The business had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.21 billion. Big Lots had a net margin of 3.31% and a return on equity of 30.32%. The company’s revenue was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.52 EPS. Analysts forecast that Big Lots will post $4.24 earnings per share for the current year.
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The firm also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Investors of record on Friday, September 8th will be given a $0.25 dividend. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $1.00 annualized dividend and a yield of 2.00%. Big Lots’s dividend payout ratio (DPR) is 26.04%.
In other Big Lots news, insider Michael Allen Schlonsky sold 2,602 shares of the business’s stock in a transaction on Tuesday, August 29th. The shares were sold at an average price of $48.00, for a total value of $124,896.00. Following the transaction, the insider now directly owns 34,706 shares of the company’s stock, valued at approximately $1,665,888. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Russell Solt sold 2,100 shares of the business’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $51.50, for a total transaction of $108,150.00. Following the completion of the transaction, the director now directly owns 10,041 shares in the company, valued at $517,111.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 73,577 shares of company stock valued at $3,717,951. 1.70% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in BIG. BlackRock Inc. increased its stake in Big Lots by 3,846.5% in the 1st quarter. BlackRock Inc. now owns 6,101,011 shares of the company’s stock valued at $296,996,000 after buying an additional 5,946,417 shares during the period. Acadian Asset Management LLC increased its stake in Big Lots by 105.1% in the 2nd quarter. Acadian Asset Management LLC now owns 813,168 shares of the company’s stock valued at $39,276,000 after buying an additional 416,770 shares during the period. UBS Asset Management Americas Inc. increased its stake in Big Lots by 206.9% in the 1st quarter. UBS Asset Management Americas Inc. now owns 547,890 shares of the company’s stock valued at $26,671,000 after buying an additional 369,367 shares during the period. Vanguard Group Inc. increased its stake in Big Lots by 7.2% in the 1st quarter. Vanguard Group Inc. now owns 5,474,133 shares of the company’s stock valued at $266,480,000 after buying an additional 368,464 shares during the period. Finally, Balyasny Asset Management LLC increased its stake in Big Lots by 43.3% in the 2nd quarter. Balyasny Asset Management LLC now owns 1,080,139 shares of the company’s stock valued at $52,171,000 after buying an additional 326,620 shares during the period.
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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