Big Lots, Inc. (BIG) Stock Rating Lowered by Zacks Investment Research

Big Lots, Inc. (NYSE:BIG) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Friday.

According to Zacks, “Big Lots’ second-quarter fiscal 2017 marked the seventh straight quarter of positive earnings surprise. Top line also beat the Zacks Consensus Estimate after missing the same in the trailing four quarters on account of robust performance of furniture and soft home. Following the results, management raised fiscal 2017 earnings view but remained somewhat cautious about its sales and comparable store sales performance due to softness in hard home and electronics. Management’s conservative sales guidance hurt investor sentiment, as a result the stock has underperformed the industry in a month. Big Lots now projects full year sales growth in the range of 2-2.5% versus 2-3% earlier. Meanwhile, its furniture financing programs have been consistently gaining traction. However, the challenging retail landscape, aggressive promotional strategies and waning store traffic might weigh on the performance. Of late, estimates have been falling.”

Other research analysts also recently issued research reports about the stock. Deutsche Bank AG raised shares of Big Lots from a “hold” rating to a “buy” rating and upped their target price for the stock from $55.00 to $56.00 in a report on Tuesday, July 25th. Loop Capital set a $64.00 target price on shares of Big Lots and gave the stock a “buy” rating in a report on Wednesday, August 30th. Oppenheimer Holdings, Inc. set a $60.00 target price on shares of Big Lots and gave the stock a “buy” rating in a report on Friday, August 25th. BidaskClub raised shares of Big Lots from a “hold” rating to a “buy” rating in a report on Wednesday, August 9th. Finally, Citigroup Inc. reaffirmed a “buy” rating and issued a $62.00 target price (up previously from $61.00) on shares of Big Lots in a report on Friday, June 9th. Six equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $57.42.

Shares of Big Lots (BIG) opened at 47.80 on Friday. The stock has a market cap of $2.06 billion, a P/E ratio of 12.39 and a beta of 0.92. Big Lots has a 12 month low of $42.40 and a 12 month high of $56.54. The company has a 50 day moving average price of $49.46 and a 200-day moving average price of $49.16.

Big Lots (NYSE:BIG) last issued its earnings results 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 company 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%. Big Lots’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.52 EPS. On average, equities research analysts predict that Big Lots will post $4.24 earnings per share for the current year.

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In other news, insider Lisa M. Bachmann sold 40,000 shares of the company’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $51.00, for a total transaction of $2,040,000.00. Following the sale, the insider now directly owns 48,089 shares in the company, valued at approximately $2,452,539. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David J. Campisi sold 28,875 shares of the company’s stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $50.04, for a total transaction of $1,444,905.00. Following the sale, the chief executive officer now owns 225,018 shares in the company, valued at $11,259,900.72. The disclosure for this sale can be found here. Insiders have sold a total of 73,577 shares of company stock worth $3,717,951 over the last 90 days. Corporate insiders own 1.70% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in BIG. BlackRock Inc. raised its position in shares of Big Lots by 3,846.5% during 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 in the last quarter. Acadian Asset Management LLC raised its position in shares of Big Lots by 105.1% during 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 in the last quarter. UBS Asset Management Americas Inc. raised its position in shares of Big Lots by 206.9% during 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 in the last quarter. Vanguard Group Inc. raised its position in shares of Big Lots by 7.2% during 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 in the last quarter. Finally, Balyasny Asset Management LLC raised its position in shares of Big Lots by 43.3% during 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 in the last quarter.

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.

Analyst Recommendations for Big Lots (NYSE:BIG)

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