Big Lots (NYSE:BIG) received a $58.00 price target from equities research analysts at MKM Partners in a research report issued to clients and investors on Monday. The firm presently has a “buy” rating on the stock. MKM Partners’ price objective would suggest a potential upside of 19.59% from the company’s current price.
Other equities research analysts have also recently issued research reports about the company. Citigroup set a $69.00 target price on Big Lots and gave the company a “buy” rating in a report on Tuesday, December 5th. Zacks Investment Research upgraded Big Lots from a “hold” rating to a “buy” rating and set a $69.00 target price on the stock in a report on Wednesday, January 31st. Loop Capital reiterated a “buy” rating and set a $70.00 target price on shares of Big Lots in a report on Monday, January 29th. Raymond James Financial reiterated a “buy” rating and set a $67.00 target price on shares of Big Lots in a report on Saturday, December 2nd. Finally, KeyCorp reiterated a “buy” rating and set a $63.00 target price on shares of Big Lots in a report on Friday, December 1st. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Big Lots has an average rating of “Buy” and a consensus price target of $61.64.
Shares of Big Lots (BIG) opened at $48.50 on Monday. The company has a market capitalization of $2,040.00, a price-to-earnings ratio of 12.37, a price-to-earnings-growth ratio of 0.73 and a beta of 0.99. The company has a current ratio of 1.66, a quick ratio of 0.24 and a debt-to-equity ratio of 0.66. Big Lots has a fifty-two week low of $45.10 and a fifty-two week high of $64.42.
Big Lots announced that its board has initiated a stock repurchase program on Friday, March 9th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the company to buy shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.
In other news, Director Jeffrey Paul Berger sold 6,000 shares of the firm’s stock in a transaction on Friday, January 5th. The stock was sold at an average price of $58.00, for a total transaction of $348,000.00. Following the sale, the director now owns 7,566 shares in the company, valued at $438,828. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Timothy A. Johnson sold 20,000 shares of the firm’s stock in a transaction on Thursday, January 4th. The stock was sold at an average price of $55.00, for a total value of $1,100,000.00. Following the sale, the insider now owns 65,649 shares in the company, valued at approximately $3,610,695. The disclosure for this sale can be found here. 1.70% of the stock is owned by company insiders.
A number of institutional investors have recently modified their holdings of BIG. Sei Investments Co. boosted its holdings in Big Lots by 488.2% in the fourth quarter. Sei Investments Co. now owns 753,487 shares of the company’s stock valued at $25,515,000 after acquiring an additional 625,395 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in Big Lots in the fourth quarter valued at $25,598,000. J. Goldman & Co LP acquired a new position in Big Lots in the fourth quarter valued at $21,077,000. APG Asset Management N.V. boosted its holdings in Big Lots by 160.7% in the fourth quarter. APG Asset Management N.V. now owns 560,800 shares of the company’s stock valued at $26,223,000 after acquiring an additional 345,700 shares during the last quarter. Finally, Schroder Investment Management Group boosted its holdings in Big Lots by 252.0% in the fourth quarter. Schroder Investment Management Group now owns 353,400 shares of the company’s stock valued at $19,843,000 after acquiring an additional 253,000 shares during the last quarter.
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Big Lots Company Profile
Big Lots, Inc is a non-traditional, discount retailer operating in the United States. As of January 28, 2017, the Company operated a total of 1,432 stores. The Company operates through the discount retailing segment. As of January 28, 2017, the Company’s stores are located at various states of the United States, such as Alabama, Arizona, California, Colorado, Florida, Georgia, Idaho, Indiana, Iowa, Kansas, Kentucky, Maine, Michigan, Montana, Nevada, Nebraska, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, South Carolina, Texas, Utah and Washington.
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