Big Lots (NYSE:BIG) Price Target Cut to $60.00

Big Lots (NYSE:BIG) had its target price decreased by stock analysts at Telsey Advisory Group from $73.00 to $60.00 in a research note issued to investors on Thursday, Briefing.com reports. The firm currently has an “outperform” rating on the stock. Telsey Advisory Group’s target price would indicate a potential upside of 24.51% from the stock’s previous close.

Several other research firms also recently issued reports on BIG. Wolfe Research started coverage on Big Lots in a research report on Friday, October 9th. They set an “outperform” rating and a $61.00 target price on the stock. Piper Sandler increased their target price on Big Lots from $65.00 to $75.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 29th. BidaskClub downgraded Big Lots from a “buy” rating to a “hold” rating in a research report on Tuesday, January 5th. Barclays downgraded Big Lots from an “equal weight” rating to an “underweight” rating and set a $42.00 price objective on the stock. in a research report on Thursday, January 7th. Finally, Zacks Investment Research downgraded Big Lots from a “buy” rating to a “hold” rating and set a $50.00 price objective on the stock. in a research report on Monday, November 2nd. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $54.25.

NYSE:BIG opened at $48.19 on Thursday. The company has a market cap of $1.79 billion, a P/E ratio of 3.07, a P/E/G ratio of 0.52 and a beta of 2.39. The stock’s fifty day moving average price is $46.34 and its two-hundred day moving average price is $46.46. Big Lots has a 1 year low of $10.13 and a 1 year high of $57.24. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.49 and a quick ratio of 0.55.

Big Lots (NYSE:BIG) last posted its earnings results on Thursday, December 3rd. The company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.10. The firm had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.35 billion. Big Lots had a return on equity of 26.25% and a net margin of 10.30%. The business’s quarterly revenue was up 18.0% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.18) earnings per share. On average, analysts expect that Big Lots will post 7.79 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BIG. PNC Financial Services Group Inc. increased its stake in Big Lots by 64.0% in the second quarter. PNC Financial Services Group Inc. now owns 2,222 shares of the company’s stock valued at $94,000 after acquiring an additional 867 shares during the last quarter. Commonwealth Equity Services LLC bought a new position in Big Lots in the second quarter valued at $274,000. Bank of Montreal Can increased its stake in Big Lots by 235.9% in the second quarter. Bank of Montreal Can now owns 5,505 shares of the company’s stock valued at $225,000 after acquiring an additional 3,866 shares during the last quarter. FMR LLC increased its stake in Big Lots by 11.8% in the second quarter. FMR LLC now owns 2,102,015 shares of the company’s stock valued at $88,284,000 after acquiring an additional 222,534 shares during the last quarter. Finally, Stifel Financial Corp bought a new position in Big Lots in the second quarter valued at $924,000. 96.95% of the stock is currently owned by institutional investors and hedge funds.

Big Lots Company Profile

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 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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