Loop Capital Upgrades Big Lots (NYSE:BIG) to Buy

Big Lots (NYSE:BIG) was upgraded by equities research analysts at Loop Capital from a “hold” rating to a “buy” rating in a report released on Monday, MarketBeat reports.

Several other analysts also recently issued reports on the company. ValuEngine downgraded Big Lots from a “sell” rating to a “strong sell” rating in a report on Thursday, June 4th. UBS Group cut their price target on Big Lots from $49.00 to $44.00 in a report on Monday, April 6th. Cfra lifted their target price on Big Lots from $40.00 to $48.00 and gave the company a “buy” rating in a research note on Friday, May 29th. Goldman Sachs Group assumed coverage on Big Lots in a research note on Monday, May 18th. They set a “neutral” rating and a $25.00 target price on the stock. Finally, Telsey Advisory Group raised Big Lots from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $20.00 to $31.00 in a research note on Monday, May 4th. One equities 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 an average rating of “Hold” and an average target price of $38.00.

Shares of BIG opened at $43.14 on Monday. The firm has a market cap of $1.68 billion, a price-to-earnings ratio of 6.11, a PEG ratio of 1.39 and a beta of 2.35. The stock has a 50 day moving average of $34.44 and a 200-day moving average of $25.79. The company has a current ratio of 1.48, a quick ratio of 0.48 and a debt-to-equity ratio of 1.68. Big Lots has a 52 week low of $10.13 and a 52 week high of $44.90.

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

Several institutional investors and hedge funds have recently bought and sold shares of the company. State Street Corp raised its stake in shares of Big Lots by 9.9% in the 1st quarter. State Street Corp now owns 1,575,607 shares of the company’s stock worth $22,870,000 after buying an additional 141,724 shares in the last quarter. Balyasny Asset Management LLC raised its stake in shares of Big Lots by 283.6% in the 1st quarter. Balyasny Asset Management LLC now owns 680,774 shares of the company’s stock worth $9,681,000 after buying an additional 503,295 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Big Lots by 7.9% in the 1st quarter. Geode Capital Management LLC now owns 543,967 shares of the company’s stock worth $7,735,000 after buying an additional 39,961 shares in the last quarter. Norges Bank bought a new stake in shares of Big Lots in the 4th quarter worth $14,681,000. Finally, Sunbelt Securities Inc. raised its stake in shares of Big Lots by 3,533.3% in the 1st quarter. Sunbelt Securities Inc. now owns 468,117 shares of the company’s stock worth $10,400,000 after buying an additional 455,233 shares in the last quarter. 92.70% of the stock is currently owned by institutional investors.

About Big Lots

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 d├ęcor, 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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