Big Lots (BIG) Raised to Overweight at Piper Jaffray Companies

Piper Jaffray Companies upgraded shares of Big Lots (NYSE:BIG) from a neutral rating to an overweight rating in a research report released on Monday morning, MarketBeat Ratings reports. The brokerage currently has $53.00 price target on the stock, up from their previous price target of $43.00. Piper Jaffray Companies also issued estimates for Big Lots’ FY2019 earnings at $4.43 EPS, Q1 2020 earnings at $1.09 EPS, Q2 2020 earnings at $0.53 EPS, Q3 2020 earnings at ($0.01) EPS, Q4 2020 earnings at $3.24 EPS and FY2020 earnings at $4.80 EPS.

BIG has been the subject of a number of other reports. ValuEngine lowered shares of Big Lots from a sell rating to a strong sell rating in a report on Saturday, September 1st. Bank of America initiated coverage on shares of Big Lots in a report on Monday, November 5th. They set a buy rating and a $56.00 price target for the company. Loop Capital raised their price target on shares of Big Lots from $48.00 to $48.00 and gave the company a hold rating in a report on Monday, August 27th. TheStreet raised shares of Big Lots from a c+ rating to a b- rating in a report on Wednesday, August 8th. Finally, Zacks Investment Research raised shares of 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. One research analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have given a buy rating to the company. The company presently has an average rating of Buy and a consensus price target of $51.81.

Big Lots stock opened at $41.00 on Monday. Big Lots has a 52-week low of $36.20 and a 52-week high of $64.42. The firm has a market capitalization of $1.63 billion, a PE ratio of 9.21, a price-to-earnings-growth ratio of 1.04 and a beta of 0.96. The company has a quick ratio of 0.32, a current ratio of 1.69 and a debt-to-equity ratio of 0.70.

Big Lots (NYSE:BIG) last released its quarterly earnings data on Friday, August 31st. The company reported $0.59 earnings per share (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 during the quarter, compared to analyst estimates of $1.23 billion. During the same period in the previous year, the company earned $0.67 EPS. Big Lots’s revenue was up .2% on a year-over-year basis. Research analysts anticipate that Big Lots will post 4.46 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of BIG. Victory Capital Management Inc. boosted its stake in Big Lots by 13,578.9% during the 2nd quarter. Victory Capital Management Inc. now owns 816,906 shares of the company’s stock valued at $34,131,000 after acquiring an additional 810,934 shares during the last quarter. Deprince Race & Zollo Inc. bought a new position in Big Lots during the 3rd quarter valued at $30,994,000. Marshall Wace LLP bought a new position in Big Lots during the 2nd quarter valued at $24,740,000. Segall Bryant & Hamill LLC bought a new position in Big Lots during the 2nd quarter valued at $23,659,000. Finally, BTIM Corp. bought a new position in Big Lots during the 2nd quarter valued at $20,035,000.

About Big Lots

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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Analyst Recommendations for Big Lots (NYSE:BIG)

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