Several other brokerages also recently issued reports on BIG. The Goldman Sachs Group decreased their target price on Big Lots from $5.00 to $4.00 and set a “sell” rating on the stock in a research note on Friday, October 20th. Telsey Advisory Group lifted their price objective on Big Lots from $6.00 to $7.00 and gave the stock a “market perform” rating in a research note on Tuesday, December 12th. Piper Sandler reduced their price objective on Big Lots from $6.00 to $3.50 and set an “underweight” rating on the stock in a research note on Friday, December 1st. Finally, StockNews.com raised Big Lots from a “sell” rating to a “hold” rating in a research note on Friday, December 1st. Four analysts have rated the stock with a sell rating and two have given a hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus price target of $5.25.
Big Lots Price Performance
Big Lots (NYSE:BIG – Get Free Report) last released its quarterly earnings data on Thursday, November 30th. The company reported ($4.38) EPS for the quarter, topping the consensus estimate of ($4.68) by $0.30. Big Lots had a negative return on equity of 68.06% and a negative net margin of 9.59%. The company had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same period last year, the company earned ($2.99) EPS. Big Lots’s revenue for the quarter was down 14.7% on a year-over-year basis. As a group, analysts anticipate that Big Lots will post -11.35 EPS for the current year.
Hedge Funds Weigh In On Big Lots
A number of institutional investors and hedge funds have recently added to or reduced their stakes in BIG. Acadian Asset Management LLC purchased a new stake in shares of Big Lots in the 2nd quarter valued at $282,000. Money Concepts Capital Corp boosted its position in shares of Big Lots by 2.9% in the 3rd quarter. Money Concepts Capital Corp now owns 124,274 shares of the company’s stock valued at $635,000 after purchasing an additional 3,481 shares during the period. Trexquant Investment LP purchased a new stake in Big Lots during the 2nd quarter valued at approximately $2,353,000. Cetera Investment Advisers purchased a new stake in Big Lots during the 2nd quarter valued at approximately $171,000. Finally, Blueshift Asset Management LLC purchased a new stake in Big Lots during the 3rd quarter valued at approximately $95,000. Institutional investors and hedge funds own 72.02% of the company’s stock.
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, 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.
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