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

StockNews.com upgraded shares of Big Lots (NYSE:BIG) from a sell rating to a hold rating in a research note issued to investors on Saturday.

Separately, Telsey Advisory Group restated a market perform rating and set a $2.50 price target on shares of Big Lots in a report on Friday, June 14th. Four analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. According to data from MarketBeat, Big Lots has a consensus rating of Reduce and a consensus target price of $4.60.

Big Lots Price Performance

BIG stock opened at $1.81 on Friday. The company has a debt-to-equity ratio of 7.05, a quick ratio of 0.16 and a current ratio of 1.39. The business has a 50-day simple moving average of $3.20 and a two-hundred day simple moving average of $4.65. The company has a market capitalization of $53.72 million, a P/E ratio of -0.11 and a beta of 2.28. Big Lots has a 52-week low of $1.80 and a 52-week high of $11.06.

Big Lots (NYSE:BIG) last announced its quarterly earnings results on Thursday, June 6th. The company reported ($4.51) earnings per share (EPS) for the quarter, missing the consensus estimate of ($4.23) by ($0.28). Big Lots had a negative return on equity of 147.35% and a negative net margin of 10.44%. The company had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter last year, the company posted ($3.40) EPS. The company’s quarterly revenue was down 10.2% compared to the same quarter last year. Research analysts expect that Big Lots will post -11.62 EPS for the current fiscal year.

Institutional Investors Weigh In On Big Lots

Large investors have recently made changes to their positions in the business. AJOVista LLC bought a new position in Big Lots during the fourth quarter valued at about $30,000. State Board of Administration of Florida Retirement System bought a new position in shares of Big Lots during the 1st quarter valued at approximately $54,000. Corton Capital Inc. purchased a new stake in shares of Big Lots during the 3rd quarter worth approximately $85,000. Yousif Capital Management LLC bought a new stake in shares of Big Lots in the 4th quarter worth approximately $95,000. Finally, Belpointe Asset Management LLC purchased a new position in Big Lots in the third quarter valued at approximately $98,000. 75.96% of the stock is owned by hedge funds and other institutional investors.

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.