TheStreet Downgrades Big Lots (BIG) to C+

Big Lots (NYSE:BIG) was downgraded by TheStreet from a “b-” rating to a “c+” rating in a research report issued to clients and investors on Friday.

Other analysts have also issued research reports about the stock. Loop Capital reiterated a “buy” rating and set a $70.00 price target on shares of Big Lots in a research report on Monday, January 29th. Zacks Investment Research upgraded shares of Big Lots from a “hold” rating to a “buy” rating and set a $69.00 price target on the stock in a research report on Wednesday, January 31st. Oppenheimer reiterated a “market perform” rating on shares of Big Lots in a research report on Wednesday, January 10th. Citigroup lowered shares of Big Lots from an “outperform” rating to a “market perform” rating in a research report on Wednesday, January 10th. They noted that the move was a valuation call. Finally, UBS lowered shares of Big Lots from an “outperform” rating to a “market perform” rating in a research report on Wednesday, January 10th. Eight investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $58.25.

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Shares of NYSE:BIG opened at $42.79 on Friday. Big Lots has a 12-month low of $41.04 and a 12-month high of $64.42. The company has a market cap of $1,766.22, a price-to-earnings ratio of 9.62, a price-to-earnings-growth ratio of 0.64 and a beta of 1.13. The company has a current ratio of 1.73, a quick ratio of 0.25 and a debt-to-equity ratio of 0.30.

Big Lots (NYSE:BIG) last announced its earnings results on Friday, March 9th. The company reported $2.57 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.43 by $0.14. Big Lots had a net margin of 3.60% and a return on equity of 31.12%. The firm had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same quarter in the prior year, the business posted $2.26 EPS. The business’s revenue was up 4.0% compared to the same quarter last year. equities analysts expect that Big Lots will post 4.88 earnings per share for the current fiscal year.

Big Lots declared that its Board of Directors has approved a stock buyback plan on Friday, March 9th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.

In related news, CEO David J. Campisi sold 20,657 shares of the stock in a transaction that occurred on Wednesday, April 4th. The shares were sold at an average price of $43.73, for a total value of $903,330.61. Following the completion of the transaction, the chief executive officer now owns 170,560 shares of the company’s stock, valued at approximately $7,458,588.80. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO David J. Campisi sold 25,414 shares of the stock in a transaction that occurred on Wednesday, March 14th. The shares were sold at an average price of $47.29, for a total transaction of $1,201,828.06. The disclosure for this sale can be found here. 1.70% of the stock is owned by corporate insiders.

A number of large investors have recently modified their holdings of BIG. C M Bidwell & Associates Ltd. bought a new position in Big Lots in the 4th quarter valued at approximately $104,000. We Are One Seven LLC bought a new position in Big Lots in the 4th quarter valued at approximately $110,000. Cerebellum GP LLC bought a new position in Big Lots in the 4th quarter valued at approximately $128,000. Pitcairn Co. bought a new position in Big Lots in the 4th quarter valued at approximately $200,000. Finally, Groesbeck Investment Management Corp NJ bought a new position in Big Lots in the 4th quarter valued at approximately $202,000.

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About Big Lots

Big Lots, Inc, through its subsidiaries, operates as a non-traditional, discount retailer in the United States. The company offers products under various merchandising categories, such as food category that includes beverage and grocery, candy and snacks, and specialty foods departments; consumables category, which comprises health and beauty, plastics, paper, chemical, and pet departments; soft home category that consists of home décor, frames, fashion bedding, utility bedding, bath, window, decorative textile, and area rugs departments; hard home category, including small appliances, table top, food preparation, stationery, greeting cards, and home maintenance departments; and furniture category consisting of upholstery, mattress, ready-to-assemble, and case goods departments.

Analyst Recommendations for Big Lots (NYSE:BIG)

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