Big Lots (NYSE:BIG) Receives a Downgrade
Piper Jaffray has given Big Lots (NYSE:BIG) shares a new “Neutral” rating in a comprehensive report revealed on 7 December. This was a cut price from the old “Overweight” rating.
From a total of 12 analysts covering Big Lots (NYSE:BIG) stock, 12 rate it a ”Buy”, 0 a “Sell”, and 4 a ”Hold”. This means that 75% of the ratings are positive. The highest target price is $61 while the lowest target price is $38. The mean of all analyst targets is $54.17 with a 37.07% above today’s ($39.25) stock price. Big Lots was the topic of 10 analyst reports since August 11, 2015 according to the firm StockzIntelligence Inc. Citigroup initiated shares on September 25 with “Buy” rating. Wedbush maintained BIG stock in a recent report from September 1 with “Buy” rating. Finally, Zacks upgraded the stock to “Sell” rating in a report issued on an August 25.
Approximately 606,029 shares of stock traded hands. Big Lots, Inc. (NYSE:BIG) has declined 14.22% since May 4, 2015 and is downtrending. It has underperformed by 13.15% the S&P500.
The overall sentiment of institutions has decreased to 0.69 in Q2 2015. Its down 0.76, from 1.45 in 2015Q2. The ratio dived, as 45 institutions have sold all the shares of Big Lots, Inc. that they owned while 111 funds have taken shares off the table. 31 funds have purchased shares for the first time while 77 added to their positions. These institutions now hold 67.91 million shares or 8.71% more than the 62.47 million shares they owned in 2015Q2.
The Fund Westport Asset Management Inc currently is holding shares equating to 11.62% of its total portfolio in Big Lots, Inc. representing a total of 278,882 shares. Another fund,Westport Advisers Llc, is holding a total of 459,541 shares equating to 2.98% of their holdings. Additionally, Sasco Capital Inc Ct has a 2.85 million share stake in Big Lots, Inc. which represents 2.96% of their total portfolio. The Fund, Snow Capital Management Lp, based out of Pennsylvania, has also built up a stake in the stock, which represents a total of 2.01% of their total portfolio. Finally Walthausen & Co. Llc, a fund which is based in the state of New York reported a total holdings of 478,907 shares.
Insider activity is a very important aspect to track on any stock. Going back to March 12, 2015, shareholders of Big Lots, Inc. have witnessed 0 buys, and a total of 3 insider sales equating to a net activity of approximately $1.14 million . Mallott Philip E sold 5,000 shares worth approximately $250,000. Bachmann Lisa M sold 16,563 shares worth approximately $811,587. Campisi David J sold 1,600 shares worth approximately $75,488. Hayes Peter J. sold 2,000 shares worth approximately $100,940. The company insider Chene Richard R sold 3,183 shares worth $160,701.
Big Lots, Inc. is a United States-based discount retailer. The company has a market cap of $1.99 billion. As of December 31, 2014, the Company, through its wholly owned subsidiaries, operated 1,460 stores in 48 states. It has 14.84 P/E ratio. The Company’s Food category includes beverage and grocery, candy and snacks, and specialty foods.
According to Zacks Investment Research, “Consolidated Stores Corp. is one of the leading value retailers specializing in closeout merchandise and toys. The company operates stores in the U.S., Puerto Rico and Guam and conducted online sales of children’s products. Retail operations are conducted primarily under the following names: Odd Lots, Big Lots, Big Lots Furniture, Mac Frugal’s Bargains Close-outs, and Pic N Save and K B Toys, K B Toy Works, and K B Toy Outlet and KBkids.com.” Get a free copy of the Zacks research report on Big Lots, Inc. (BIG).