Big Lots (BIG) Downgraded to “Hold” at ValuEngine

ValuEngine downgraded shares of Big Lots (NYSE:BIG) from a buy rating to a hold rating in a research report sent to investors on Thursday morning.

BIG has been the subject of a number of other reports. Zacks Investment Research downgraded shares of Big Lots from a buy rating to a hold rating in a research note on Tuesday, December 5th. Northcoast Research reaffirmed a neutral rating on shares of Big Lots in a research note on Monday, March 12th. Loop Capital dropped their price target on shares of Big Lots from $70.00 to $60.00 and set a buy rating for the company in a research note on Monday, March 12th. UBS downgraded shares of Big Lots from an outperform rating to a market perform rating in a research note on Wednesday, January 10th. Finally, Raymond James Financial reissued a buy rating and set a $67.00 price target on shares of Big Lots in a research note on Saturday, December 2nd. Nine analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Big Lots presently has a consensus rating of Hold and an average target price of $58.83.

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Shares of Big Lots stock traded down $0.62 during midday trading on Thursday, hitting $43.39. 243,966 shares of the company’s stock were exchanged, compared to its average volume of 1,407,051. Big Lots has a one year low of $43.35 and a one year high of $64.42. The company has a market capitalization of $1,922.58, a P/E ratio of 9.99, a PEG ratio of 0.69 and a beta of 0.99. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.25 and a current ratio of 1.73.

Big Lots (NYSE:BIG) last announced its earnings results on Friday, March 9th. The company reported $2.57 earnings per share 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 company had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.65 billion. During the same period in the previous year, the firm posted $2.26 earnings per share. The company’s revenue was up 4.0% on a year-over-year basis. research analysts expect that Big Lots will post 4.88 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 6th. Investors of record on Friday, March 23rd will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.77%. This is an increase from Big Lots’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Thursday, March 22nd. Big Lots’s payout ratio is 22.83%.

Big Lots announced that its board has authorized a share buyback program on Friday, March 9th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

In other Big Lots news, insider Timothy A. Johnson sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, January 4th. The shares were sold at an average price of $55.00, for a total value of $1,100,000.00. Following the completion of the sale, the insider now owns 65,649 shares of the company’s stock, valued at $3,610,695. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David J. Campisi sold 25,414 shares of the company’s 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. Over the last three months, insiders have sold 51,414 shares of company stock valued at $2,649,828. 1.70% of the stock is currently owned by insiders.

A number of large investors have recently modified their holdings of BIG. Crossmark Global Holdings Inc. bought a new stake in Big Lots in the third quarter valued at approximately $381,000. Advisor Group Inc. boosted its holdings in shares of Big Lots by 29.9% in the third quarter. Advisor Group Inc. now owns 6,300 shares of the company’s stock valued at $337,000 after buying an additional 1,449 shares during the period. DekaBank Deutsche Girozentrale boosted its holdings in shares of Big Lots by 78.3% in the third quarter. DekaBank Deutsche Girozentrale now owns 2,858 shares of the company’s stock valued at $144,000 after buying an additional 1,255 shares during the period. Comerica Bank boosted its holdings in shares of Big Lots by 3.3% in the third quarter. Comerica Bank now owns 74,526 shares of the company’s stock valued at $3,817,000 after buying an additional 2,360 shares during the period. Finally, Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Big Lots by 17.7% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 17,207 shares of the company’s stock valued at $922,000 after buying an additional 2,587 shares during the period.

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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.

Analyst Recommendations for Big Lots (NYSE:BIG)

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