Big Lots (BIG) Downgraded by ValuEngine to Strong Sell

ValuEngine lowered shares of Big Lots (NYSE:BIG) from a sell rating to a strong sell rating in a report issued on Thursday morning.

BIG has been the topic of several other reports. Deutsche Bank cut their price target on shares of Big Lots from $64.00 to $58.00 and set a buy rating on the stock in a research report on Thursday, May 24th. Goldman Sachs Group initiated coverage on shares of Big Lots in a research report on Thursday, July 19th. They set a buy rating and a $47.00 price target on the stock. Loop Capital cut shares of Big Lots from a buy rating to a hold rating and set a $40.00 target price on the stock. in a report on Monday, June 4th. Deutsche Bank dropped their target price on shares of Big Lots from $64.00 to $58.00 and set a buy rating on the stock in a report on Thursday, May 24th. Finally, Zacks Investment Research raised shares of Big Lots from a sell rating to a hold rating in a report on Thursday, May 31st. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus target price of $51.47.

NYSE:BIG traded down $0.09 on Thursday, hitting $41.26. 19,210 shares of the company’s stock were exchanged, compared to its average volume of 1,830,832. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.69 and a quick ratio of 0.32. Big Lots has a 52 week low of $36.20 and a 52 week high of $64.42. The stock has a market capitalization of $1.70 billion, a PE ratio of 9.25, a price-to-earnings-growth ratio of 0.79 and a beta of 1.02.

Big Lots (NYSE:BIG) last issued its quarterly earnings results on Friday, August 31st. The company reported $0.59 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.08). Big Lots had a return on equity of 27.83% and a net margin of 3.14%. The business had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.23 billion. During the same period last year, the firm earned $0.67 earnings per share. The company’s quarterly revenue was up .2% compared to the same quarter last year. analysts anticipate that Big Lots will post 4.45 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Friday, September 14th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Thursday, September 13th. This represents a $1.20 dividend on an annualized basis and a yield of 2.91%. Big Lots’s dividend payout ratio (DPR) is currently 26.97%.

In related news, EVP Lisa M. Bachmann sold 7,517 shares of the company’s stock in a transaction dated Monday, August 20th. The shares were sold at an average price of $48.85, for a total value of $367,205.45. Following the transaction, the executive vice president now owns 61,630 shares in the company, valued at approximately $3,010,625.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Michael Allen Schlonsky sold 6,000 shares of the company’s stock in a transaction dated Thursday, August 2nd. The shares were sold at an average price of $45.00, for a total transaction of $270,000.00. Following the completion of the transaction, the executive vice president now owns 34,315 shares in the company, valued at approximately $1,544,175. The disclosure for this sale can be found here. In the last quarter, insiders sold 48,250 shares of company stock worth $2,319,663. 1.30% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Kessler Investment Group LLC acquired a new position in Big Lots in the 2nd quarter valued at about $129,000. Point72 Asia Hong Kong Ltd acquired a new position in shares of Big Lots during the 1st quarter worth approximately $135,000. Itau Unibanco Holding S.A. grew its position in shares of Big Lots by 87.4% during the 2nd quarter. Itau Unibanco Holding S.A. now owns 3,569 shares of the company’s stock worth $149,000 after purchasing an additional 1,665 shares in the last quarter. Meadow Creek Investment Management LLC grew its position in shares of Big Lots by 58.9% during the 2nd quarter. Meadow Creek Investment Management LLC now owns 4,880 shares of the company’s stock worth $204,000 after purchasing an additional 1,808 shares in the last quarter. Finally, Bridgewater Associates LP acquired a new position in shares of Big Lots during the 2nd quarter worth approximately $211,000.

Big Lots Company Profile

Big Lots, Inc, through its subsidiaries, operates as a community 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.

Further Reading: Return on Investment (ROI) Defined, Explained

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Analyst Recommendations for Big Lots (NYSE:BIG)

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