Big Lots, Inc. (NYSE:BIG) was the target of a large decline in short interest in the month of July. As of July 31st, there was short interest totalling 10,236,819 shares, a decline of 17.5% from the July 13th total of 12,414,558 shares. Based on an average daily volume of 1,171,849 shares, the days-to-cover ratio is currently 8.7 days. Currently, 25.6% of the company’s shares are sold short.
BIG has been the subject of a number of analyst reports. Citigroup initiated coverage on Big Lots in a report on Friday, July 6th. They issued a “buy” rating for the company. Zacks Investment Research upgraded Big Lots from a “strong sell” rating to a “hold” rating and set a $51.00 price target for the company in a report on Wednesday, August 1st. JPMorgan Chase & Co. decreased their price target on Big Lots from $44.00 to $40.00 and set a “neutral” rating for the company in a report on Monday, June 4th. Telsey Advisory Group decreased their price target on Big Lots from $49.00 to $42.00 and set a “market perform” rating for the company in a report on Monday, June 4th. Finally, TheStreet upgraded Big Lots from a “c+” rating to a “b-” rating in a report on Wednesday, August 8th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the stock. Big Lots currently has a consensus rating of “Hold” and an average target price of $51.50.
In other news, SVP Ronald A. Robins, Jr. sold 5,000 shares of the business’s stock in a transaction dated Friday, August 3rd. The stock was sold at an average price of $46.00, for a total transaction of $230,000.00. Following the completion of the sale, the senior vice president now owns 14,545 shares in the company, valued at approximately $669,070. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Michael Allen Schlonsky sold 6,000 shares of the business’s stock in a transaction dated Thursday, August 2nd. The stock was sold at an average price of $45.00, for a total value of $270,000.00. Following the sale, the executive vice president now owns 34,315 shares of the company’s stock, valued at approximately $1,544,175. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by insiders.
Shares of BIG opened at $47.20 on Friday. Big Lots has a 52-week low of $36.20 and a 52-week high of $64.42. The company has a market capitalization of $1.91 billion, a price-to-earnings ratio of 10.61, a price-to-earnings-growth ratio of 0.86 and a beta of 1.03. The company has a current ratio of 1.65, a quick ratio of 0.32 and a debt-to-equity ratio of 0.25.
Big Lots (NYSE:BIG) last announced its earnings results on Friday, June 1st. The company reported $0.95 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.19 by ($0.24). Big Lots had a net margin of 3.23% and a return on equity of 28.85%. The business had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same period in the previous year, the company earned $1.15 earnings per share. The business’s revenue for the quarter was down 2.1% on a year-over-year basis. sell-side analysts expect that Big Lots will post 4.56 earnings per share for the current fiscal year.
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.
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