ValuEngine lowered shares of Big Lots (NYSE:BIG) from a hold rating to a sell rating in a report published on Wednesday morning.
Other equities analysts have also issued reports about the company. Telsey Advisory Group reaffirmed a market perform rating and issued a $55.00 price objective (down from $65.00) on shares of Big Lots in a research note on Monday, March 12th. Citigroup reaffirmed a hold rating and issued a $56.00 price objective on shares of Big Lots in a research note on Tuesday, March 13th. Barclays reaffirmed a hold rating and issued a $50.00 price objective on shares of Big Lots in a research note on Thursday, March 15th. TheStreet lowered Big Lots from a b- rating to a c+ rating in a research note on Friday, April 13th. Finally, Loop Capital reaffirmed a buy rating and issued a $70.00 price objective on shares of Big Lots in a research note on Monday, January 29th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the company. Big Lots currently has an average rating of Hold and a consensus target price of $58.25.
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Shares of BIG stock opened at $41.32 on Wednesday. Big Lots has a 12 month low of $41.04 and a 12 month high of $64.42. The stock has a market cap of $1,736.80, a PE ratio of 9.29, 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 (NYSE:BIG) last posted its quarterly earnings data on Friday, March 9th. The company reported $2.57 EPS for the quarter, topping the Zacks’ consensus estimate of $2.43 by $0.14. The company had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.65 billion. Big Lots had a return on equity of 31.12% and a net margin of 3.60%. The firm’s quarterly revenue was up 4.0% on a year-over-year basis. During the same period in the previous year, the firm earned $2.26 earnings per share. equities analysts predict that Big Lots will post 4.88 EPS for the current year.
Big Lots declared that its Board of Directors has initiated a stock buyback plan on Friday, March 9th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which was paid on Friday, April 6th. Shareholders of record on Friday, March 23rd were paid a $0.30 dividend. The ex-dividend date was Thursday, March 22nd. This is a positive change from Big Lots’s previous quarterly dividend of $0.25. This represents a $1.20 annualized dividend and a yield of 2.90%. Big Lots’s payout ratio is 26.97%.
In other Big Lots news, CEO David J. Campisi sold 20,657 shares of the business’s 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 transaction, the chief executive officer now directly owns 170,560 shares of the company’s stock, valued at $7,458,588.80. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO David J. Campisi sold 25,414 shares of the business’s stock in a transaction that occurred 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 disclosure for this sale can be found here. 1.30% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in BIG. Sit Investment Associates Inc. increased its holdings in shares of Big Lots by 8.8% during the fourth quarter. Sit Investment Associates Inc. now owns 16,295 shares of the company’s stock valued at $915,000 after acquiring an additional 1,320 shares in the last quarter. Convergence Investment Partners LLC bought a new stake in shares of Big Lots during the fourth quarter valued at approximately $1,095,000. Bank of Montreal Can increased its holdings in shares of Big Lots by 21.2% during the fourth quarter. Bank of Montreal Can now owns 261,951 shares of the company’s stock valued at $14,708,000 after acquiring an additional 45,759 shares in the last quarter. Creative Planning bought a new stake in shares of Big Lots during the fourth quarter valued at approximately $222,000. Finally, V Wealth Management LLC bought a new stake in shares of Big Lots during the fourth quarter valued at approximately $230,000.
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 d茅cor, and frames departments; and food category that includes beverage and grocery, candy and snacks, and specialty foods departments.
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