Big Lots (NYSE:BIG) Price Target Raised to $7.00

Big Lots (NYSE:BIG) had its target price raised by Loop Capital from $6.00 to $7.00 in a research report sent to investors on Wednesday, Marketbeat reports. Loop Capital currently has a hold rating on the stock.

BIG has been the topic of a number of other research reports. StockNews.com initiated coverage on Big Lots in a report on Thursday, August 17th. They issued a hold rating on the stock. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Big Lots from $8.00 to $6.00 in a research note on Tuesday, May 30th. Telsey Advisory Group reaffirmed a market perform rating and issued a $6.00 price target on shares of Big Lots in a research report on Friday, August 25th. Finally, The Goldman Sachs Group lowered their price target on Big Lots from $14.00 to $5.00 in a research report on Wednesday, May 31st. Four equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of Reduce and an average target price of $6.93.

Big Lots Stock Up 3.1 %

Shares of Big Lots stock opened at $6.39 on Wednesday. Big Lots has a 12-month low of $4.78 and a 12-month high of $24.09. The stock’s fifty day moving average is $8.62 and its 200-day moving average is $9.70. The firm has a market capitalization of $186.46 million, a PE ratio of -0.46 and a beta of 2.18. The company has a quick ratio of 0.17, a current ratio of 1.47 and a debt-to-equity ratio of 0.91.

Big Lots (NYSE:BIG) last announced its earnings results on Tuesday, August 29th. The company reported ($3.24) EPS for the quarter, topping the consensus estimate of ($4.11) by $0.87. Big Lots had a negative net margin of 7.78% and a negative return on equity of 34.74%. The company had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.10 billion. During the same period last year, the company posted ($2.28) earnings per share. The business’s revenue for the quarter was down 15.4% on a year-over-year basis. Equities analysts anticipate that Big Lots will post -10.29 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in BIG. Osaic Holdings Inc. boosted its stake in shares of Big Lots by 41.3% in the 2nd quarter. Osaic Holdings Inc. now owns 10,151 shares of the company’s stock valued at $91,000 after purchasing an additional 2,967 shares in the last quarter. Nuveen Asset Management LLC increased its position in Big Lots by 199.3% in the 2nd quarter. Nuveen Asset Management LLC now owns 680,769 shares of the company’s stock valued at $6,011,000 after acquiring an additional 453,329 shares in the last quarter. GTS Securities LLC acquired a new stake in Big Lots in the 2nd quarter valued at about $503,000. Wells Fargo & Company MN increased its position in Big Lots by 28.0% in the 2nd quarter. Wells Fargo & Company MN now owns 27,947 shares of the company’s stock valued at $247,000 after acquiring an additional 6,109 shares in the last quarter. Finally, XTX Topco Ltd acquired a new position in Big Lots during the 2nd quarter worth $408,000. Institutional investors and hedge funds own 72.02% of the company’s stock.

Big Lots Company Profile

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, case goods, and ready-to-assemble departments; seasonal category, which comprises patio furniture, gazebos, Christmas trim, and other holiday departments; soft home category that consists of home décor, frames, fashion and utility bedding, bath, window, decorative textile, and area rugs departments; and food category that includes beverage and grocery, specialty foods, and pet departments.