Big Lots (BIG) is Reiterated by MKM Partners to Buy, Raises Price Target to $ 60

Big Lots (BIG) was Reiterated by MKM Partners to “Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 60 from a previous price target of $58 . MKM Partners advised their investors in a research report released on May 31, 2016.

Many Wall Street Analysts have commented on Big Lots. Topeka Capital Markets Initiated Big Lots on May 24, 2016 to “Hold”, Price Target of the shares are set at $42.Shares were Downgraded by Deutsche Bank on May 23, 2016 to ” Hold” and Lowered the Price Target to $ 47 from a previous price target of $49 .Big Lots was Initiated by Credit Suisse to “Underperform” on Mar 16, 2016.

On the company’s financial health, Big Lots reported $0.82 EPS for the quarter, beating the analyst consensus estimate by $ 0.12 according to the earnings call on May 27, 2016. Analyst had a consensus of $0.70. The company had revenue of $1312.60 million for the quarter, compared to analysts expectations of $1295.09 million. The company’s revenue was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.60 EPS.

Big Lots opened for trading at $50 and hit $51.07 on the upside on Friday, eventually ending the session at $50.95, with a gain of 14.08% or 6.29 points. The heightened volatility saw the trading volume jump to 73,04,679 shares. Company has a market cap of $2,531 M.

In a different news, on Mar 14, 2016, Andrew D Stein (Senior Vice President) sold 2,569 shares at $45.67 per share price. According to the SEC, on Mar 14, 2016, Timothy A Johnson (Executive Vice President) sold 5,539 shares at $45.67 per share price. On Mar 14, 2016, Michael Allen Schlonsky (Executive Vice President) sold 3,450 shares at $45.67 per share price, according to the Form-4 filing with the securities and exchange commission.

Big Lots Inc. is a United States-based discount retailer. As of December 31 2014 the Company through its wholly owned subsidiaries operated 1460 stores in 48 states. The Company’s Food category includes beverage and grocery candy and snacks and specialty foods. Its Consumables category includes health and beauty plastics paper chemical and pet departments. Its Soft Home category includes fashion bedding utility bedding bath window decorative textile and flooring and the Hard Home category includes small appliances table top food preparation stationery greeting card tools paint and home maintenance departments. Its Furniture & Home Decor category includes upholstery mattress case goods home decor and frames; the Seasonal category includes lawn & garden summer Christmas toys books sporting goods and other holiday and its Electronics & Accessories category includes electronics jewelry apparel hosiery and infant accessories departments.

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