Big Lots (BIG) Stock Price Down 6.5%

Shares of Big Lots, Inc. (NYSE:BIG) fell 6.5% during trading on Monday . The company traded as low as $33.71 and last traded at $34.16. 1,070,584 shares changed hands during trading, a decline of 21% from the average session volume of 1,358,951 shares. The stock had previously closed at $36.52.

A number of research firms recently commented on BIG. Zacks Investment Research downgraded shares of Big Lots from a “buy” rating to a “hold” rating in a report on Wednesday, May 8th. ValuEngine raised shares of Big Lots from a “strong sell” rating to a “sell” rating in a report on Monday, March 25th. Raymond James boosted their price objective on shares of Big Lots from $36.00 to $40.00 and gave the stock an “outperform” rating in a report on Monday, March 11th. Bank of America boosted their price objective on shares of Big Lots from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, March 11th. Finally, Deutsche Bank downgraded shares of Big Lots from a “buy” rating to a “hold” rating in a report on Thursday, February 28th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $41.93.

The company has a current ratio of 1.77, a quick ratio of 0.25 and a debt-to-equity ratio of 0.75. The stock has a market cap of $1.46 billion, a price-to-earnings ratio of 8.46, a PEG ratio of 1.36 and a beta of 1.27.

Big Lots (NYSE:BIG) last posted its quarterly earnings data on Friday, March 8th. The company reported $2.68 EPS for the quarter, beating analysts’ consensus estimates of $2.30 by $0.38. Big Lots had a net margin of 3.00% and a return on equity of 25.67%. The company had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.60 billion. During the same period in the prior year, the firm earned $2.57 earnings per share. The business’s quarterly revenue was down 2.7% on a year-over-year basis. On average, sell-side analysts forecast that Big Lots, Inc. will post 3.67 earnings per share for the current year.

Big Lots announced that its board has approved a share repurchase plan on Friday, March 8th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the company to purchase up to 3.6% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

In other Big Lots news, EVP Michael Allen Schlonsky sold 5,000 shares of the company’s stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $38.99, for a total transaction of $194,950.00. Following the completion of the sale, the executive vice president now directly owns 67,296 shares of the company’s stock, valued at $2,623,871.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Nicholas E. Padovano sold 4,734 shares of the company’s stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $38.19, for a total transaction of $180,791.46. Following the sale, the insider now directly owns 10,776 shares of the company’s stock, valued at $411,535.44. The disclosure for this sale can be found here. Insiders have sold 11,380 shares of company stock valued at $434,290 over the last ninety days. Insiders own 1.10% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the business. BB&T Corp raised its position in Big Lots by 53.5% during the fourth quarter. BB&T Corp now owns 34,172 shares of the company’s stock valued at $988,000 after acquiring an additional 11,907 shares in the last quarter. Neuberger Berman Group LLC acquired a new position in Big Lots during the third quarter valued at approximately $214,000. Olstein Capital Management L.P. grew its holdings in Big Lots by 22.5% during the fourth quarter. Olstein Capital Management L.P. now owns 50,000 shares of the company’s stock valued at $1,446,000 after purchasing an additional 9,200 shares during the last quarter. We Are One Seven LLC acquired a new position in Big Lots during the fourth quarter valued at approximately $71,000. Finally, Prudential Financial Inc. grew its holdings in Big Lots by 452.3% during the fourth quarter. Prudential Financial Inc. now owns 167,462 shares of the company’s stock valued at $4,843,000 after purchasing an additional 137,142 shares during the last quarter.

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Big Lots Company Profile (NYSE:BIG)

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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