Big Lots (BIG) Downgraded by ValuEngine to “Strong Sell”

Big Lots (NYSE:BIG) was downgraded by analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a research note issued to investors on Thursday, September 13th.

BIG has been the subject of several other research reports. Deutsche Bank cut their price target on Big Lots from $64.00 to $58.00 and set a “buy” rating for the company in a research note on Thursday, May 24th. Goldman Sachs Group initiated coverage on Big Lots in a research note on Thursday, July 19th. They set a “buy” rating and a $47.00 price objective for the company. Loop Capital lowered Big Lots from a “buy” rating to a “hold” rating and set a $40.00 price objective for the company. in a research note on Monday, June 4th. Deutsche Bank cut their price objective on Big Lots from $64.00 to $58.00 and set a “buy” rating for the company in a research note on Thursday, May 24th. Finally, Zacks Investment Research upgraded Big Lots from a “sell” rating to a “hold” rating in a research note on Thursday, May 31st. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $51.43.

Shares of Big Lots stock traded up $0.71 on Thursday, hitting $41.80. The company’s stock had a trading volume of 982,453 shares, compared to its average volume of 1,451,599. The company has a quick ratio of 0.32, a current ratio of 1.69 and a debt-to-equity ratio of 0.70. Big Lots has a 1 year low of $36.20 and a 1 year high of $64.42. The firm has a market cap of $1.67 billion, a PE ratio of 9.39, a P/E/G ratio of 0.78 and a beta of 1.02.

Big Lots (NYSE:BIG) last announced its quarterly earnings results on Friday, August 31st. The company reported $0.59 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.67 by ($0.08). Big Lots had a net margin of 3.14% and a return on equity of 27.83%. The business had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.23 billion. During the same quarter in the prior year, the firm earned $0.67 EPS. Big Lots’s revenue for the quarter was up .2% on a year-over-year basis. On average, sell-side analysts expect that Big Lots will post 4.45 EPS for the current year.

In related news, SVP Ronald A. Robins, Jr. sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, August 3rd. The stock was sold at an average price of $46.00, for a total value of $230,000.00. Following the transaction, the senior vice president now directly owns 14,545 shares in the company, valued at $669,070. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Michael Allen Schlonsky sold 6,000 shares of the company’s stock in a transaction that occurred on Thursday, August 2nd. The shares were sold at an average price of $45.00, for a total value of $270,000.00. Following the completion of the transaction, the executive vice president now owns 34,315 shares in the company, valued at $1,544,175. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 48,250 shares of company stock worth $2,319,663. Insiders own 1.30% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its position in Big Lots by 1.8% in the second quarter. BlackRock Inc. now owns 5,110,859 shares of the company’s stock valued at $213,532,000 after purchasing an additional 90,820 shares during the period. LSV Asset Management raised its position in Big Lots by 13.8% in the second quarter. LSV Asset Management now owns 2,563,773 shares of the company’s stock valued at $107,114,000 after purchasing an additional 310,800 shares during the period. Dimensional Fund Advisors LP raised its position in Big Lots by 9.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,594,589 shares of the company’s stock valued at $66,623,000 after purchasing an additional 132,458 shares during the period. Nuveen Asset Management LLC raised its position in Big Lots by 14.9% in the first quarter. Nuveen Asset Management LLC now owns 965,405 shares of the company’s stock valued at $42,024,000 after purchasing an additional 125,248 shares during the period. Finally, Northern Trust Corp raised its position in Big Lots by 1.2% in the second quarter. Northern Trust Corp now owns 868,651 shares of the company’s stock valued at $36,293,000 after purchasing an additional 9,884 shares during the period.

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 décor, and frames departments; and food category that includes beverage and grocery, candy and snacks, and specialty foods departments.

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Analyst Recommendations for Big Lots (NYSE:BIG)

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