Big Lots (NYSE:BIG) had its price objective reduced by equities research analysts at Loop Capital from $70.00 to $60.00 in a research report issued on Monday. The brokerage presently has a “buy” rating on the stock. Loop Capital’s target price would indicate a potential upside of 26.40% from the company’s previous close.
Several other analysts also recently weighed in on BIG. Zacks Investment Research downgraded Big Lots from a “buy” rating to a “hold” rating in a research note on Tuesday, November 21st. KeyCorp reiterated a “buy” rating and issued a $63.00 price target on shares of Big Lots in a research note on Friday, December 1st. Raymond James Financial reiterated a “buy” rating and issued a $67.00 price target on shares of Big Lots in a research note on Saturday, December 2nd. Telsey Advisory Group lifted their price target on Big Lots from $56.00 to $59.00 and gave the stock a “market perform” rating in a research note on Monday, December 4th. Finally, Citigroup set a $69.00 price target on Big Lots and gave the stock a “buy” rating in a research note on Tuesday, December 5th. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $59.64.
Shares of Big Lots (BIG) opened at $47.47 on Monday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.24 and a current ratio of 1.66. The firm has a market capitalization of $2,000.00, a PE ratio of 10.57, a PEG ratio of 0.73 and a beta of 0.99. Big Lots has a 52 week low of $45.10 and a 52 week high of $64.42.
Big Lots declared that its board has approved a share buyback program on Friday, March 9th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.
In other Big Lots news, insider Timothy A. Johnson sold 20,000 shares of the firm’s stock in a transaction dated Thursday, January 4th. The shares were sold at an average price of $55.00, for a total value of $1,100,000.00. Following the transaction, the insider now owns 65,649 shares of the company’s stock, valued at $3,610,695. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jeffrey Paul Berger sold 6,000 shares of the firm’s stock in a transaction dated Friday, January 5th. The stock was sold at an average price of $58.00, for a total transaction of $348,000.00. Following the completion of the transaction, the director now directly owns 7,566 shares in the company, valued at approximately $438,828. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. ING Groep NV lifted its holdings in Big Lots by 18.3% in the fourth quarter. ING Groep NV now owns 6,406 shares of the company’s stock worth $360,000 after acquiring an additional 991 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its holdings in Big Lots by 78.3% in the third quarter. DekaBank Deutsche Girozentrale now owns 2,858 shares of the company’s stock worth $144,000 after acquiring an additional 1,255 shares during the last quarter. Sit Investment Associates Inc. lifted its holdings in Big Lots by 8.8% in the fourth quarter. Sit Investment Associates Inc. now owns 16,295 shares of the company’s stock worth $915,000 after acquiring an additional 1,320 shares during the last quarter. Advisor Group Inc. lifted its holdings in Big Lots by 29.9% in the third quarter. Advisor Group Inc. now owns 6,300 shares of the company’s stock worth $337,000 after acquiring an additional 1,449 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. lifted its holdings in Big Lots by 9.4% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 18,819 shares of the company’s stock worth $1,057,000 after acquiring an additional 1,612 shares during the last quarter.
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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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