Big Lots (NYSE:BIG) Lifted to Hold at StockNews.com

StockNews.com upgraded shares of Big Lots (NYSE:BIG) from a sell rating to a hold rating in a report released on Thursday morning.

BIG has been the subject of a number of other research reports. Telsey Advisory Group cut their price objective on shares of Big Lots from $2.50 to $1.50 and set a market perform rating for the company in a report on Monday, August 5th. Loop Capital upgraded Big Lots from a sell rating to a hold rating and set a $1.00 target price for the company in a report on Thursday, July 11th. Two analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. According to data from MarketBeat, Big Lots currently has an average rating of Hold and a consensus target price of $2.50.

Big Lots Trading Up 9.1 %

Shares of Big Lots stock opened at $0.50 on Thursday. The stock has a market cap of $14.75 million, a PE ratio of -0.03 and a beta of 2.19. The firm has a fifty day moving average price of $1.05 and a 200 day moving average price of $2.68. Big Lots has a 1 year low of $0.40 and a 1 year high of $8.41. The company has a debt-to-equity ratio of 7.05, a current ratio of 1.39 and a quick ratio of 0.16.

Big Lots (NYSE:BIG) last issued its quarterly earnings data on Thursday, June 6th. The company reported ($4.51) EPS 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 business had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same period in the previous year, the business posted ($3.40) earnings per share. The firm’s revenue for the quarter was down 10.2% on a year-over-year basis. Equities research analysts predict that Big Lots will post -11.84 earnings per share for the current year.

Institutional Investors Weigh In On Big Lots

A number of institutional investors have recently made changes to their positions in the stock. Ground Swell Capital LLC purchased a new position in shares of Big Lots during the 2nd quarter worth approximately $26,000. State Board of Administration of Florida Retirement System purchased a new position in Big Lots in the first quarter worth approximately $54,000. Price T Rowe Associates Inc. MD raised its holdings in shares of Big Lots by 46.7% in the 1st 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 in the last quarter. Quadrature Capital Ltd purchased a new stake in shares of Big Lots during the 4th quarter worth $245,000. Finally, Squarepoint Ops LLC purchased a new position in Big Lots in the second quarter valued at $269,000. 75.96% of the stock is currently 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.