Piper Sandler Downgrades Big Lots (NYSE:BIG) to Underweight

Posted by on Apr 23rd, 2023

Big Lots (NYSE:BIG – Get Rating) was downgraded by Piper Sandler from a “neutral” rating to an “underweight” rating in a note issued to investors on Friday, The Fly reports. They presently have a $7.00 target price on the stock, down from their prior target price of $12.00. Piper Sandler’s price objective indicates a potential downside of 16.96% from the company’s previous close.

A number of other research analysts have also issued reports on BIG. StockNews.com raised shares of Big Lots from a “sell” rating to a “hold” rating in a research note on Thursday, March 30th. Credit Suisse Group dropped their price target on shares of Big Lots from $15.00 to $13.00 and set an “underperform” rating on the stock in a research report on Monday, March 6th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Big Lots from $10.00 to $9.00 in a research report on Thursday, January 5th. Telsey Advisory Group dropped their price target on shares of Big Lots from $20.00 to $16.00 and set a “market perform” rating on the stock in a research report on Tuesday, February 28th. Finally, The Goldman Sachs Group dropped their target price on shares of Big Lots from $16.00 to $14.00 and set a “sell” rating on the stock in a report on Friday, March 3rd. Five research analysts have rated the stock with a sell rating and four have given a hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus price target of $15.22.

Big Lots Price Performance

BIG opened at $8.43 on Friday. The company has a fifty day simple moving average of $12.72 and a 200 day simple moving average of $15.60. The firm has a market cap of $244.72 million, a price-to-earnings ratio of -1.16 and a beta of 1.94. Big Lots has a twelve month low of $8.27 and a twelve month high of $37.50. The company has a current ratio of 1.40, a quick ratio of 0.15 and a debt-to-equity ratio of 0.39.

Big Lots (NYSE:BIG – Get Rating) last released its quarterly earnings results on Thursday, March 2nd. The company reported ($0.28) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.69) by $0.41. Big Lots had a negative net margin of 3.85% and a negative return on equity of 20.12%. The business had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.55 billion. During the same period last year, the business earned $1.75 EPS. The business’s revenue was down 10.9% on a year-over-year basis. Equities research analysts expect that Big Lots will post -4.46 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. PNC Financial Services Group Inc. increased its position in shares of Big Lots by 69.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,819 shares of the company’s stock worth $27,000 after acquiring an additional 747 shares in the last quarter. US Bancorp DE grew its position in Big Lots by 32.5% during the first quarter. US Bancorp DE now owns 2,053 shares of the company’s stock valued at $71,000 after purchasing an additional 503 shares in the last quarter. Belpointe Asset Management LLC purchased a new position in Big Lots during the fourth quarter valued at approximately $41,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Big Lots by 42.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,231 shares of the company’s stock valued at $62,000 after purchasing an additional 1,259 shares in the last quarter. Finally, Captrust Financial Advisors grew its position in Big Lots by 22.8% during the first quarter. Captrust Financial Advisors now owns 5,171 shares of the company’s stock valued at $180,000 after purchasing an additional 960 shares in the last quarter.

Big Lots Company Profile

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Big Lots, Inc engages in the operation of retail stores. It operates through the Discount Retailing segment. The Discount Retailing segment includes merchandising categories such as furniture, seasonal, soft home, food, consumables, hard home, and electronics, toys, and accessories. The company was founded by Sol A.

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