Big Lots (NYSE:BIG) Shares Up 1.8% After Analyst Upgrade

Big Lots, Inc. (NYSE:BIG) shares were up 1.8% during mid-day trading on Monday after Deutsche Bank raised their price target on the stock from $37.00 to $42.00. Deutsche Bank currently has a hold rating on the stock. Big Lots traded as high as $44.90 and last traded at $43.80, approximately 108,642 shares changed hands during trading. A decline of 96% from the average daily volume of 2,489,897 shares. The stock had previously closed at $43.04.

A number of other equities research analysts have also recently weighed in on BIG. Piper Sandler lifted their price objective on shares of Big Lots from $52.00 to $53.00 and gave the company an “overweight” rating in a research note on Wednesday, June 17th. Cfra lifted their price objective on shares of Big Lots from $40.00 to $48.00 and gave the company a “buy” rating in a research note on Friday, May 29th. Telsey Advisory Group upgraded shares of Big Lots from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $20.00 to $31.00 in a research note on Monday, May 4th. Loop Capital upgraded shares of Big Lots from a “hold” rating to a “buy” rating in a research note on Monday. Finally, UBS Group cut their price objective on shares of Big Lots from $49.00 to $44.00 in a research note on Monday, April 6th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $38.00.

A number of institutional investors have recently modified their holdings of the business. State Street Corp raised its position in Big Lots by 9.9% in the first quarter. State Street Corp now owns 1,575,607 shares of the company’s stock worth $22,870,000 after acquiring an additional 141,724 shares in the last quarter. Royal Bank of Canada increased its stake in Big Lots by 165.1% in the 1st quarter. Royal Bank of Canada now owns 18,757 shares of the company’s stock worth $267,000 after purchasing an additional 11,681 shares in the last quarter. State of Tennessee Treasury Department increased its stake in Big Lots by 5.3% in the 1st quarter. State of Tennessee Treasury Department now owns 111,273 shares of the company’s stock worth $1,582,000 after purchasing an additional 5,557 shares in the last quarter. Maverick Capital Ltd. purchased a new position in Big Lots in the 1st quarter worth about $6,054,000. Finally, Engine Capital Management LP purchased a new position in Big Lots in the 1st quarter worth about $118,000. Hedge funds and other institutional investors own 92.70% of the company’s stock.

The stock has a 50 day moving average of $34.44 and a two-hundred day moving average of $25.79. The stock has a market cap of $1.68 billion, a PE ratio of 6.11, a PEG ratio of 1.39 and a beta of 2.35. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.48 and a current ratio of 1.48.

Big Lots (NYSE:BIG) last issued its quarterly earnings results on Friday, May 29th. The company reported $1.26 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.86. The firm had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Big Lots had a return on equity of 19.99% and a net margin of 5.05%. Big Lots’s revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the business posted $0.92 EPS. Analysts expect that Big Lots, Inc. will post 4.39 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 12th were paid a $0.30 dividend. The ex-dividend date was Thursday, June 11th. This represents a $1.20 dividend on an annualized basis and a yield of 2.78%. Big Lots’s dividend payout ratio is currently 32.70%.

Big Lots Company Profile (NYSE:BIG)

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.

Recommended Story: What is the S&P/ASX 200 Index?

Receive News & Ratings for Big Lots Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Big Lots and related companies with MarketBeat.com's FREE daily email newsletter.