Brokerages Set Big Lots, Inc. (BIG) Price Target at $37.50

Big Lots, Inc. (NYSE:BIG) has been given a consensus recommendation of “Hold” by the fourteen research firms that are presently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $35.02.

Several research firms have recently weighed in on BIG. KeyCorp dropped their price target on shares of Big Lots from $44.00 to $40.00 and set an “overweight” rating for the company in a research note on Monday. Bank of America cut shares of Big Lots from a “buy” rating to an “underperform” rating and set a $26.20 price target for the company. in a research note on Monday. Telsey Advisory Group reissued a “market perform” rating and issued a $32.00 price target (down previously from $40.00) on shares of Big Lots in a research note on Monday. Zacks Investment Research cut shares of Big Lots from a “buy” rating to a “hold” rating and set a $23.00 price target for the company. in a research note on Wednesday, May 29th. Finally, Piper Jaffray Companies cut shares of Big Lots from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $44.00 to $31.00 in a research note on Friday, May 24th.

NYSE BIG traded down $0.74 during trading hours on Thursday, hitting $26.78. 1,258,217 shares of the company’s stock traded hands, compared to its average volume of 1,434,282. Big Lots has a 52-week low of $25.73 and a 52-week high of $50.35. The stock has a market cap of $1.09 billion, a PE ratio of 6.63, a P/E/G ratio of 0.95 and a beta of 1.44. The company has a current ratio of 1.25, a quick ratio of 0.17 and a debt-to-equity ratio of 2.21.

Big Lots (NYSE:BIG) last posted its quarterly earnings results on Friday, May 31st. The company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.22. Big Lots had a net margin of 2.68% and a return on equity of 25.61%. The business had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.29 billion. During the same quarter in the prior year, the company posted $0.95 EPS. The business’s revenue for the quarter was up 2.2% on a year-over-year basis. On average, sell-side analysts forecast that Big Lots will post 3.77 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be given a dividend of $0.30 per share. The ex-dividend date is Thursday, June 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.48%. Big Lots’s payout ratio is currently 29.70%.

Big Lots declared that its board has authorized a share buyback program on Friday, March 8th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the company to buy up to 3.6% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.

In related news, insider Nicholas E. Padovano sold 4,734 shares of the stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $38.19, for a total transaction of $180,791.46. Following the completion of the transaction, the insider now owns 10,776 shares of the company’s stock, valued at approximately $411,535.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Michael Allen Schlonsky sold 5,000 shares of the stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $38.99, for a total transaction of $194,950.00. Following the transaction, the executive vice president now directly owns 67,296 shares of the company’s stock, valued at approximately $2,623,871.04. The disclosure for this sale can be found here. Insiders have sold a total of 11,380 shares of company stock valued at $434,290 in the last ninety days. 1.10% of the stock is currently owned by corporate insiders.

Large investors have recently bought and sold shares of the stock. Captrust Financial Advisors boosted its position in shares of Big Lots by 263.0% during the 4th quarter. Captrust Financial Advisors now owns 933 shares of the company’s stock worth $27,000 after purchasing an additional 676 shares during the period. Northwestern Mutual Wealth Management Co. lifted its holdings in Big Lots by 71.7% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 1,001 shares of the company’s stock worth $38,000 after buying an additional 418 shares in the last quarter. NumerixS Investment Technologies Inc acquired a new stake in Big Lots during the 4th quarter worth approximately $31,000. We Are One Seven LLC acquired a new stake in Big Lots during the 4th quarter worth approximately $71,000. Finally, Ladenburg Thalmann Financial Services Inc. lifted its holdings in Big Lots by 45.3% during the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,092 shares of the company’s stock worth $118,000 after buying an additional 964 shares in the last quarter.

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 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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