Piper Jaffray Companies Analysts Give Big Lots, Inc. (BIG) a $52.00 Price Target
Several other equities analysts have also issued reports on BIG. Zacks Investment Research upgraded Big Lots from a hold rating to a buy rating and set a $56.00 target price for the company in a research report on Friday, July 28th. Citigroup Inc. reiterated a buy rating and issued a $62.00 price target (up from $61.00) on shares of Big Lots in a research report on Friday, June 9th. Deutsche Bank AG upgraded shares of Big Lots from a hold rating to a buy rating and increased their price target for the company from $55.00 to $56.00 in a research report on Tuesday, July 25th. BidaskClub upgraded shares of Big Lots from a hold rating to a buy rating in a research report on Wednesday, August 9th. Finally, Oppenheimer Holdings, Inc. set a $60.00 price objective on shares of Big Lots and gave the stock a buy rating in a research note on Friday, August 25th. Four research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. Big Lots presently has an average rating of Buy and an average price target of $57.54.
Big Lots (NYSE:BIG) opened at 52.01 on Friday. The firm has a market cap of $2.21 billion, a price-to-earnings ratio of 13.48 and a beta of 0.96. Big Lots has a 1-year low of $42.40 and a 1-year high of $56.54. The company has a 50-day moving average of $49.62 and a 200-day moving average of $48.98.
Big Lots (NYSE:BIG) last released its quarterly earnings data on Friday, August 25th. The company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.05. Big Lots had a return on equity of 30.32% and a net margin of 3.31%. The business had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.21 billion. During the same quarter in the prior year, the company posted $0.52 earnings per share. The firm’s revenue was up 1.5% on a year-over-year basis. Analysts predict that Big Lots will post $4.24 earnings per share for the current year.
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The business also recently disclosed a quarterly dividend, which was paid on Friday, September 22nd. Stockholders of record on Friday, September 8th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.92%. The ex-dividend date of this dividend was Thursday, September 7th. Big Lots’s dividend payout ratio is 26.04%.
In related news, insider Ronald A. Robins, Jr. sold 1,000 shares of the company’s stock in a transaction on Monday, September 25th. The shares were sold at an average price of $51.00, for a total value of $51,000.00. Following the completion of the transaction, the insider now directly owns 7,925 shares of the company’s stock, valued at approximately $404,175. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO David J. Campisi sold 96,940 shares of the company’s stock in a transaction on Wednesday, September 27th. The stock was sold at an average price of $53.00, for a total transaction of $5,137,820.00. Following the completion of the transaction, the chief executive officer now directly owns 99,203 shares of the company’s stock, valued at $5,257,759. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 171,517 shares of company stock worth $8,906,771. 1.70% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. lifted its holdings in shares of Big Lots by 3,846.5% in the first quarter. BlackRock Inc. now owns 6,101,011 shares of the company’s stock valued at $296,996,000 after purchasing an additional 5,946,417 shares in the last quarter. Acadian Asset Management LLC boosted its position in shares of Big Lots by 105.1% during the second quarter. Acadian Asset Management LLC now owns 813,168 shares of the company’s stock worth $39,276,000 after buying an additional 416,770 shares during the period. UBS Asset Management Americas Inc. boosted its position in shares of Big Lots by 206.9% during the first quarter. UBS Asset Management Americas Inc. now owns 547,890 shares of the company’s stock worth $26,671,000 after buying an additional 369,367 shares during the period. Vanguard Group Inc. boosted its position in shares of Big Lots by 7.2% during the first quarter. Vanguard Group Inc. now owns 5,474,133 shares of the company’s stock worth $266,480,000 after buying an additional 368,464 shares during the period. Finally, Balyasny Asset Management LLC boosted its position in shares of Big Lots by 43.3% during the second quarter. Balyasny Asset Management LLC now owns 1,080,139 shares of the company’s stock worth $52,171,000 after buying an additional 326,620 shares during the period.
Big Lots Company Profile
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.
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