Big Lots (BSIG) Lifted to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Big Lots (NYSE:BSIG) from a hold rating to a buy rating in a research note issued to investors on Friday morning. The firm currently has $17.00 price target on the stock.

According to Zacks, “OM Asset Management plc operates as a multi-boutique asset management company. It provides its services to individuals and institutions. The Company offers products in domestic and international equities, fixed income, and alternative investments, such as timber and real estate. OM Asset Management plc is based Boston, Massachusetts. “

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Several other equities analysts have also recently issued reports on BSIG. Sandler O’Neill set a $19.00 price target on Big Lots and gave the company a hold rating in a report on Thursday, January 11th. Keefe, Bruyette & Woods reiterated a buy rating and issued a $22.00 price target on shares of Big Lots in a report on Tuesday, January 9th. Finally, Royal Bank of Canada set a $20.00 price target on Big Lots and gave the company a buy rating in a report on Saturday, December 16th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Big Lots currently has a consensus rating of Buy and a consensus target price of $19.14.

Shares of BSIG stock opened at $15.76 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.85 and a current ratio of 0.85. Big Lots has a 52 week low of $13.20 and a 52 week high of $18.62.

Big Lots (NYSE:BSIG) last posted its quarterly earnings results on Thursday, February 1st. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.04. The business had revenue of $252.30 million for the quarter, compared to analysts’ expectations of $240.25 million. Big Lots had a return on equity of 129.15% and a net margin of 0.47%. The firm’s quarterly revenue was up 32.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.33 earnings per share. equities analysts forecast that Big Lots will post 1.94 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, March 30th. Investors of record on Friday, March 16th were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 2.28%. The ex-dividend date of this dividend was Thursday, March 15th. Big Lots’s dividend payout ratio is 22.22%.

In other Big Lots news, EVP Christopher Hadley sold 12,000 shares of the firm’s stock in a transaction dated Thursday, March 29th. The stock was sold at an average price of $15.61, for a total transaction of $187,320.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Aidan J. Riordan sold 45,336 shares of the firm’s stock in a transaction dated Thursday, March 8th. The stock was sold at an average price of $15.22, for a total value of $690,013.92. Following the transaction, the executive vice president now owns 226,517 shares in the company, valued at approximately $3,447,588.74. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 158,054 shares of company stock worth $2,431,364. Company insiders own 1.48% of the company’s stock.

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Big Lots Company Profile

BrightSphere Investment Group Plc provides investment management services and products primarily to institutional clients. The company offers its services to predominantly institutional investors, in asset classes that include U.S. and other equities, fixed income, real estate and timber. It competes with other acquirers of investment management firms, including investment management holding companies, insurance companies, banks and private equity firms.

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