Big Lots (NYSE:BIG) Price target reduced to $38.00

Big Prizes (NYSE:BIG – Get a Grade) had its price target lowered by Loop Capital from $44.00 to $38.00 in a research note released on Friday, Benzinga reports. The brokerage currently has a “holding” rating on the stock. Loop Capital’s target price indicates a potential downside of 0.03% from the stock’s previous close.

Several other research companies have also recently published reports on BIG. Deutsche Bank Aktiengesellschaft lowered its jackpot price target from $48.00 to $45.00 and set a “hold” rating on the stock in a Wednesday, January 12 report. Goldman Sachs Group upgraded Big Lots from a “neutral” rating to a “sell” rating and reduced its target price for the company from $58.00 to $43.00 in a Tuesday, December 14, report. Barclays reduced its price target on the big lots from $45.00 to $40.00 and set an “underweight” rating on the stock in a Wednesday, January 12 report. Zacks Investment Research upgraded the Big Lots from a “hold” rating to a “strong sell” rating and set a target price of $42.00 for the stock. in a report on Wednesday, January 5. Finally, JPMorgan Chase & Co. downgraded Big Lots from a “neutral” rating to an “underweight” rating and lowered its price target for the company from $54.00 to $31.00 in a report. Wednesday, February 9. Five research analysts rated the stock with a sell rating and four issued a hold rating for the company’s stock. Based on data from MarketBeat.com, Big Lots has an average rating of “Sell” and a consensus price target of $42.67.

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Big Lots stock traded at $1.14 at midday on Friday, hitting $38.01. 14,939 shares of the company were traded, against an average volume of 1,166,641. The company’s 50-day simple moving average is $40.87 and its two-hundred-day simple moving average is 44.92 $. The company has a market capitalization of $1.16 billion, a P/E ratio of 6.17, a PEG ratio of 0.56 and a beta of 2.21. Big Lots has a 12 month minimum of $31.57 and a 12 month maximum of $73.23.

Big Lots (NYSE:BIG – Get Rating) last released quarterly earnings data on Thursday, March 3. The company reported earnings per share (EPS) of $1.75 for the quarter, missing the consensus estimate of $1.89 per ($0.14). Big Lots had a return on equity of 19.03% and a net margin of 3.67%. The company posted revenue of $1.73 billion for the quarter, compared to analysts’ estimates of $1.72 billion. In the same quarter last year, the company achieved EPS of $2.59. Big Lots revenue for the quarter decreased 0.3% compared to the same quarter last year. Analysts expect Big Lots to post 5.56 EPS for the current year.

Big Lots announced that its board of directors launched a stock repurchase program on Friday, December 3 that allows the company to repurchase $250.00 million of outstanding stock. This repurchase authorization allows the company to acquire up to 17.5% of its shares through purchases on the open market. Share repurchase programs usually indicate that the company’s board of directors believe its shares are undervalued.

Several hedge funds and other institutional investors have recently changed their positions in BIG. LPL Financial LLC increased its position in Big Lots shares by 7.9% during the second quarter. LPL Financial LLC now owns 15,020 shares of the company worth $991,000 after acquiring an additional 1,105 shares in the last quarter. Steward Partners Investment Advisory LLC purchased a new stake in Big Lots in the second quarter worth approximately $64,000. Macquarie Group Ltd. increased its holdings in Big Lots by 77.6% in the second quarter. Macquarie Group Ltd. now owns 1,893 shares of the company valued at $125,000 after purchasing an additional 827 shares in the last quarter. State Street Corp increased its stake in Big Lots by 0.5% in the second quarter. State Street Corp now owns 1,252,893 shares of the company valued at $82,703,000 after buying 6,647 additional shares in the last quarter. Finally, Credit Suisse AG increased its holdings in Big Lots by 10.3% in the second quarter. Credit Suisse AG now owns 47,779 shares of the company valued at $3,106,000 after buying an additional 4,477 shares in the last quarter. 99.71% of the shares are currently held by institutional investors and hedge funds.

Big Lots Company Profile (Get a rating)

Big Lots, Inc is engaged in the operation of retail stores. It operates through the discount retail segment which includes merchandising categories such as furniture, seasonal goods, soft home, food, consumables, hard home and electronics, toys and the accessories. The company was founded by Sol A. Shenk in 1967 and is based in Columbus, OH.

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