Big Lots (NYSE:BIG) Upgraded to “Hold” at Zacks Investment Research

Big Lots (NYSE:BIGGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Tuesday, Zacks.com reports. The brokerage presently has a $37.00 target price on the stock. Zacks Investment Research‘s price objective indicates a potential upside of 2.35% from the company’s previous close.

According to Zacks, “Big Lots has lagged the industry in the past three months. The company has been battling escalated freight costs, which hurt its gross margin in the fourth quarter of fiscal 2021. Also, comparable sales fell 2.3%. Management stated that its sales were below expectations due to major inclement weather conditions in January and the impact of omicron on traffic besides some inventory challenges. For first-quarter fiscal 2022, Big Lots envisions earnings per share to be $1.10-$1.20, implying a decline from $2.62 reported in the year-ago period. That said, the company has been gaining from its transformation initiative, referred to as Operation North Star. Additionally, the company is experiencing strong e-commerce growth, buoyed by the Buy Online Pick-up In Store functionality and curbside pickup. The company’s store growth plans also bode well.”

A number of other equities analysts have also recently weighed in on BIG. StockNews.com began coverage on shares of Big Lots in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Telsey Advisory Group lowered their price target on shares of Big Lots from $53.00 to $50.00 and set a “market perform” rating on the stock in a research note on Monday, February 28th. JPMorgan Chase & Co. cut shares of Big Lots from a “neutral” rating to an “underweight” rating and lowered their price target for the stock from $54.00 to $31.00 in a research note on Wednesday, February 9th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Big Lots from $48.00 to $45.00 and set a “hold” rating on the stock in a research report on Wednesday, January 12th. Finally, The Goldman Sachs Group decreased their price objective on shares of Big Lots from $40.00 to $36.00 and set a “sell” rating on the stock in a research report on Monday, March 7th. Four analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. Based on data from MarketBeat, Big Lots currently has an average rating of “Hold” and an average target price of $41.33.

Shares of BIG opened at $36.15 on Tuesday. The stock has a market capitalization of $1.03 billion, a P/E ratio of 6.95, a P/E/G ratio of 0.60 and a beta of 2.19. The company’s fifty day moving average is $36.52 and its two-hundred day moving average is $42.04. Big Lots has a 1 year low of $31.43 and a 1 year high of $73.23.

Big Lots (NYSE:BIGGet Rating) last posted its quarterly earnings results on Thursday, March 3rd. The company reported $1.75 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.89 by ($0.14). Big Lots had a return on equity of 16.21% and a net margin of 2.89%. The company had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same period last year, the company earned $2.59 earnings per share. The business’s revenue for the quarter was down .3% compared to the same quarter last year. On average, sell-side analysts anticipate that Big Lots will post 4.91 EPS for the current fiscal year.

In other Big Lots news, EVP Nicholas E. Padovano sold 4,300 shares of the company’s stock in a transaction dated Wednesday, April 6th. The shares were sold at an average price of $34.30, for a total value of $147,490.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Nicholas E. Padovano sold 900 shares of the company’s stock in a transaction dated Tuesday, March 22nd. The shares were sold at an average price of $38.39, for a total transaction of $34,551.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 10,000 shares of company stock worth $349,918. 1.90% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of BIG. Barnett & Company Inc. acquired a new position in shares of Big Lots during the 4th quarter valued at about $28,000. Dark Forest Capital Management LP acquired a new position in shares of Big Lots during the 3rd quarter valued at about $30,000. Benjamin F. Edwards & Company Inc. increased its stake in shares of Big Lots by 2,042.9% during the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 1,050 shares of the company’s stock valued at $46,000 after acquiring an additional 1,001 shares during the last quarter. Econ Financial Services Corp acquired a new position in shares of Big Lots during the 4th quarter valued at about $89,000. Finally, Gladius Capital Management LP acquired a new position in shares of Big Lots during the 4th quarter valued at about $90,000. 99.71% of the stock is owned by institutional investors.

Big Lots Company Profile (Get Rating)

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 patio furniture, gazebos, Christmas trim, 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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