Big Lots (BIG) Downgraded by UBS

UBS lowered shares of Big Lots (NYSE:BIG) from a strong-buy rating to an outperform rating in a research note issued to investors on Monday, thefly.com reports.

A number of other brokerages also recently weighed in on BIG. Zacks Investment Research upgraded shares of Big Lots from a hold rating to a buy rating and set a $69.00 target price on the stock in a report on Wednesday, January 31st. Northcoast Research restated a neutral rating on shares of Big Lots in a report on Monday, March 12th. KeyCorp reiterated an overweight rating and issued a $58.00 price objective (down from $63.00) on shares of Big Lots in a report on Monday, March 12th. Morgan Stanley set a $64.00 price objective on shares of Big Lots and gave the company a buy rating in a report on Monday, March 12th. Finally, ValuEngine downgraded shares of Big Lots from a buy rating to a hold rating in a report on Thursday, March 22nd. Eight research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Big Lots has a consensus rating of Buy and a consensus target price of $58.25.

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Shares of BIG opened at $42.38 on Monday. The firm has a market cap of $1,837.67, a P/E ratio of 9.52, a PEG ratio of 0.66 and a beta of 1.13. Big Lots has a 1-year low of $41.04 and a 1-year high of $64.42. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.25 and a current ratio of 1.73.

Big Lots (NYSE:BIG) last issued its earnings results on Friday, March 9th. The company reported $2.57 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.43 by $0.14. The business had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.65 billion. Big Lots had a net margin of 3.60% and a return on equity of 31.12%. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same period in the previous year, the company earned $2.26 earnings per share. analysts predict that Big Lots will post 4.88 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 6th. Shareholders of record on Friday, March 23rd were issued a $0.30 dividend. This is an increase from Big Lots’s previous quarterly dividend of $0.25. This represents a $1.20 annualized dividend and a dividend yield of 2.83%. The ex-dividend date was Thursday, March 22nd. Big Lots’s payout ratio is currently 26.97%.

Big Lots announced that its Board of Directors has initiated a share buyback plan on Friday, March 9th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the company to reacquire shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

In other news, CEO David J. Campisi sold 25,414 shares of the business’s stock in a transaction dated Wednesday, March 14th. The shares were sold at an average price of $47.29, for a total value of $1,201,828.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO David J. Campisi sold 20,657 shares of the business’s stock in a transaction dated Wednesday, April 4th. The shares were sold at an average price of $43.73, for a total transaction of $903,330.61. Following the completion of the sale, the chief executive officer now directly owns 170,560 shares of the company’s stock, valued at approximately $7,458,588.80. The disclosure for this sale can be found here. Insiders own 1.70% of the company’s stock.

Several institutional investors have recently made changes to their positions in BIG. C M Bidwell & Associates Ltd. bought a new stake in shares of Big Lots in the fourth quarter valued at about $104,000. We Are One Seven LLC bought a new stake in shares of Big Lots in the fourth quarter valued at about $110,000. Cerebellum GP LLC bought a new stake in shares of Big Lots in the fourth quarter valued at about $128,000. Pitcairn Co. bought a new stake in shares of Big Lots in the fourth quarter valued at about $200,000. Finally, Groesbeck Investment Management Corp NJ bought a new stake in shares of Big Lots in the fourth quarter valued at about $202,000.

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About Big Lots

Big Lots, Inc, through its subsidiaries, operates as a non-traditional, discount retailer in the United States. The company offers products under various merchandising categories, such as food category that includes beverage and grocery, candy and snacks, and specialty foods departments; consumables category, which comprises health and beauty, plastics, paper, chemical, and pet departments; soft home category that consists of home décor, frames, fashion bedding, utility bedding, bath, window, decorative textile, and area rugs departments; hard home category, including small appliances, table top, food preparation, stationery, greeting cards, and home maintenance departments; and furniture category consisting of upholstery, mattress, ready-to-assemble, and case goods departments.

Analyst Recommendations for Big Lots (NYSE:BIG)

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