Zacks Investment Research Downgrades Big Lots (BIG) to Hold

Big Lots (NYSE:BIG) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Tuesday.

According to Zacks, “Big Lots’ shares have outperformed the industry in the past six months owing to better-than-expected earnings for the eighth straight quarter and encouraging earnings outlook. Meanwhile, both furniture financing programs and soft home have been consistently gaining traction. Following third-quarter fiscal 2017 results, management raised fiscal 2017 earnings guidance but remained somewhat cautious about sales and comparable store sales performance. Sales growth for the full year is predicted to increase by 2%, compared with earlier guided range of 2-2.5%. Moreover, challenging retail landscape, aggressive promotional strategies and waning store traffic might weigh on the performance. Softness in electronics, toys and accessories also remains a concern. Gross margins, which have declined in the second and third quarter is expected to fall further in the final quarter of 2017.”

BIG has been the topic of several other reports. Deutsche Bank reaffirmed a “buy” rating and set a $57.00 price objective (up from $56.00) on shares of Big Lots in a research report on Saturday, August 26th. Piper Jaffray Companies reaffirmed a “hold” rating and set a $52.00 price objective on shares of Big Lots in a research report on Friday, September 1st. Loop Capital set a $64.00 price objective on Big Lots and gave the company a “buy” rating in a research report on Wednesday, August 30th. BidaskClub raised Big Lots from a “hold” rating to a “buy” rating in a research report on Wednesday, August 9th. Finally, Oppenheimer set a $60.00 price objective on Big Lots and gave the company a “buy” rating in a research report on Friday, August 25th. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $60.64.

Shares of Big Lots (BIG) opened at $57.99 on Tuesday. The company has a current ratio of 1.66, a quick ratio of 0.24 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $2,496.62, a P/E ratio of 14.20, a price-to-earnings-growth ratio of 1.02 and a beta of 0.99. Big Lots has a 12-month low of $45.10 and a 12-month high of $60.18.

Big Lots (NYSE:BIG) last posted its quarterly earnings data on Friday, December 1st. The company reported $0.06 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.02. The business had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.11 billion. Big Lots had a return on equity of 30.17% and a net margin of 3.36%. The business’s revenue was up .5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.04 EPS. equities research analysts anticipate that Big Lots will post 4.27 earnings per share for the current year.

In other news, CEO David J. Campisi sold 96,940 shares of the business’s stock in a transaction that occurred on Wednesday, September 27th. The stock was sold at an average price of $53.00, for a total value of $5,137,820.00. Following the sale, the chief executive officer now directly owns 99,203 shares of the company’s stock, valued at approximately $5,257,759. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Ronald A. Robins, Jr. sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, September 25th. The stock was sold at an average price of $51.00, for a total value of $51,000.00. Following the completion of the sale, the insider now directly owns 7,925 shares in the company, valued at $404,175. The disclosure for this sale can be found here. Insiders own 1.70% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of BIG. Csenge Advisory Group purchased a new position in Big Lots in the 3rd quarter worth approximately $218,000. Canada Pension Plan Investment Board raised its holdings in Big Lots by 20.2% in the 3rd quarter. Canada Pension Plan Investment Board now owns 90,299 shares of the company’s stock worth $4,837,000 after acquiring an additional 15,200 shares during the last quarter. Wells Fargo & Company MN raised its holdings in Big Lots by 8.0% in the 2nd quarter. Wells Fargo & Company MN now owns 2,363,889 shares of the company’s stock worth $114,175,000 after acquiring an additional 175,972 shares during the last quarter. Quantitative Systematic Strategies LLC purchased a new position in Big Lots in the 3rd quarter worth approximately $615,000. Finally, State Street Corp raised its holdings in Big Lots by 1.8% in the 2nd quarter. State Street Corp now owns 1,640,504 shares of the company’s stock worth $79,233,000 after acquiring an additional 28,509 shares during the last quarter.

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About Big Lots

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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