StockNews.com upgraded shares of Big Lots (NYSE:BIG – Free Report) from a sell rating to a hold rating in a research report released on Friday.
Several other equities analysts also recently weighed in on BIG. Loop Capital raised Big Lots from a sell rating to a hold rating and set a $1.00 price objective for the company in a research note on Thursday, July 11th. Telsey Advisory Group cut their price target on Big Lots from $2.50 to $1.50 and set a market perform rating for the company in a report on Monday, August 5th. Three investment analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. Based on data from MarketBeat, Big Lots currently has a consensus rating of Hold and a consensus price target of $3.20.
Check Out Our Latest Stock Report on BIG
Big Lots Stock Performance
Big Lots (NYSE:BIG – Get Free Report) last released its quarterly earnings data on Thursday, June 6th. The company reported ($4.51) earnings per share for the quarter, missing the consensus estimate of ($4.23) by ($0.28). Big Lots had a negative net margin of 10.44% and a negative return on equity of 147.35%. The firm had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same period in the previous year, the business earned ($3.40) earnings per share. The business’s revenue for the quarter was down 10.2% on a year-over-year basis. Sell-side analysts expect that Big Lots will post -11.77 EPS for the current fiscal year.
Hedge Funds Weigh In On Big Lots
A number of institutional investors have recently made changes to their positions in the stock. Squarepoint Ops LLC acquired a new position in Big Lots in the second quarter valued at $269,000. Marshall Wace LLP increased its stake in Big Lots by 1,132.9% in the second quarter. Marshall Wace LLP now owns 200,960 shares of the company’s stock valued at $348,000 after purchasing an additional 184,660 shares during the last quarter. Ground Swell Capital LLC acquired a new position in Big Lots in the second quarter valued at $26,000. Price T Rowe Associates Inc. MD increased its stake in Big Lots by 46.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 37,421 shares of the company’s stock valued at $163,000 after purchasing an additional 11,915 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in Big Lots by 3.7% in the first quarter. Vanguard Group Inc. now owns 1,598,679 shares of the company’s stock valued at $6,922,000 after purchasing an additional 56,540 shares during the last quarter. 75.96% of the stock is owned by institutional investors and hedge funds.
About Big Lots
Big Lots, Inc, through its subsidiaries, operates as a home discount retailer in the United States. The company offers products under various merchandising categories, such as furniture category that includes upholstery, mattresses, home décor, case goods, and ready-to-assemble departments; seasonal category, which comprises patio furniture, gazebos, Christmas trim, lawn and garden, and other holiday departments; soft home category consists of apparel, hosiery, jewelry; frames, fashion and utility bedding, bath, window, decorative textiles, and area rugs departments; and food category that includes beverages and grocery, specialty foods, and candy and snacks departments.
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