Big Lots (NYSE:BIG) Upgraded to “Hold” by StockNews.com

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

Separately, Telsey Advisory Group reiterated a market perform rating and set a $2.50 price objective on shares of Big Lots in a research note 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 MarketBeat, the company currently has an average rating of Reduce and a consensus price target of $4.60.

Big Lots Stock Performance

Shares of BIG opened at $1.90 on Friday. The stock has a 50-day moving average of $3.23 and a two-hundred day moving average of $4.69. Big Lots has a one year low of $1.85 and a one year high of $11.06. 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 stock has a market cap of $56.40 million, a P/E ratio of -0.12 and a beta of 2.28.

Big Lots (NYSE:BIG) last issued its quarterly earnings results on Thursday, June 6th. The company reported ($4.51) EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same period in the prior year, the firm posted ($3.40) EPS. The business’s revenue was down 10.2% compared to the same quarter last year. As a group, research analysts predict that Big Lots will post -11.62 EPS for the current year.

Hedge Funds Weigh In On Big Lots

Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of 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 in 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 valued at $7,713,000 after purchasing an additional 284,258 shares in the last quarter. Partnership Wealth Management LLC purchased a new position in shares of Big Lots in the 4th quarter valued at about $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 valued at $1,997,000 after purchasing an additional 327,397 shares in 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 valued at $3,030,000 after purchasing an additional 323,059 shares in the last quarter. Hedge funds and other institutional investors own 75.96% of the company’s stock.

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.