Big Lots (BIG) Downgraded to “Neutral” at Goldman Sachs Group

Goldman Sachs Group lowered shares of Big Lots (NYSE:BIG) from a buy rating to a neutral rating in a report released on Thursday morning, Marketbeat Ratings reports. Goldman Sachs Group currently has $34.00 target price on the stock.

A number of other brokerages have also recently weighed in on BIG. Loop Capital reduced their price target on shares of Big Lots from $43.00 to $32.00 and set a hold rating on the stock in a research report on Friday, December 7th. Bank of America started coverage on shares of Big Lots in a research report on Monday, November 5th. They set a buy rating and a $56.00 price target on the stock. Morgan Stanley reduced their price target on shares of Big Lots from $47.00 to $43.00 and set an overweight rating on the stock in a research report on Monday, December 10th. ValuEngine cut shares of Big Lots from a sell rating to a strong sell rating in a research report on Friday, December 7th. Finally, Zacks Investment Research cut shares of Big Lots from a hold rating to a sell rating in a research report on Wednesday, December 12th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus price target of $44.25.

Shares of BIG stock opened at $31.35 on Thursday. The company has a market capitalization of $1.23 billion, a price-to-earnings ratio of 7.04, a price-to-earnings-growth ratio of 0.95 and a beta of 1.41. Big Lots has a 52-week low of $26.21 and a 52-week high of $64.42. The company has a current ratio of 1.71, a quick ratio of 0.27 and a debt-to-equity ratio of 1.05.

Big Lots (NYSE:BIG) last announced its quarterly earnings results on Friday, December 7th. The company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.15). The firm had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.14 billion. Big Lots had a return on equity of 26.11% and a net margin of 2.91%. The company’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.06 earnings per share. As a group, equities analysts anticipate that Big Lots will post 3.66 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 28th. Investors of record on Friday, December 14th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, December 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.83%. Big Lots’s payout ratio is 26.97%.

In related news, CEO Bruce K. Thorn acquired 8,500 shares of the company’s stock in a transaction that occurred on Friday, December 14th. The shares were acquired at an average cost of $29.46 per share, for a total transaction of $250,410.00. Following the completion of the acquisition, the chief executive officer now directly owns 8,500 shares in the company, valued at approximately $250,410. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.30% of the company’s stock.

Large investors have recently modified their holdings of the stock. Tower Research Capital LLC TRC increased its stake in Big Lots by 753.1% in the 3rd quarter. Tower Research Capital LLC TRC now owns 3,438 shares of the company’s stock valued at $144,000 after buying an additional 3,035 shares during the last quarter. Toronto Dominion Bank acquired a new stake in Big Lots in the 3rd quarter valued at $167,000. Bridgewater Associates LP acquired a new stake in Big Lots in the 2nd quarter valued at $211,000. Neuberger Berman Group LLC acquired a new stake in Big Lots in the 3rd quarter valued at $214,000. Finally, BKS Advisors LLC acquired a new stake in Big Lots in the 3rd quarter valued at $221,000.

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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