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

Big Lots (NYSE:BIG) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.

Separately, Telsey Advisory Group reissued a “market perform” rating and issued a $2.50 price objective on shares of Big Lots in a research note on Friday, June 14th. Four research analysts have rated the stock with a sell rating and two have issued a hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average price target of $4.60.

Big Lots Trading Up 0.3 %

Shares of NYSE:BIG opened at $1.91 on Friday. Big Lots has a 1 year low of $1.85 and a 1 year high of $11.06. The firm has a market capitalization of $56.54 million, a price-to-earnings ratio of -0.12 and a beta of 2.28. The company has a debt-to-equity ratio of 7.05, a current ratio of 1.39 and a quick ratio of 0.16. The business’s 50 day moving average price is $3.26 and its 200-day moving average price is $4.73.

Big Lots (NYSE:BIG) last announced its earnings results on Thursday, June 6th. The company reported ($4.51) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter last year, the business earned ($3.40) EPS. The company’s quarterly revenue was down 10.2% on a year-over-year basis. On average, equities research analysts forecast that Big Lots will post -11.62 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Big Lots by 3.7% in the 1st quarter. Vanguard Group Inc. now owns 1,598,679 shares of the company’s stock valued at $6,922,000 after purchasing an additional 56,540 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Big Lots by 40.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 990,131 shares of the company’s stock worth $7,713,000 after acquiring an additional 284,258 shares during the last quarter. Partnership Wealth Management LLC acquired a new stake in shares of Big Lots in the 4th quarter worth $6,376,000. GSA Capital Partners LLP increased its stake in shares of Big Lots by 244.7% in the 1st quarter. GSA Capital Partners LLP now owns 461,188 shares of the company’s stock worth $1,997,000 after acquiring an additional 327,397 shares during the last quarter. Finally, Federated Hermes Inc. increased its stake in shares of Big Lots by 490.3% in the 4th quarter. Federated Hermes Inc. now owns 388,954 shares of the company’s stock worth $3,030,000 after acquiring an additional 323,059 shares during the last quarter. 75.96% of the stock is 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.