Big Lots (BIG) is Downgraded by Northcoast to Neutral

Big Lots (BIG) was Downgraded by Northcoast to ” Neutral”. Earlier the firm had a rating of “Buy ” on the company shares. Northcoast advised their investors in a research report released on Aug 2, 2016.

Many Wall Street Analysts have commented on Big Lots. Company shares were Reiterated by MKM Partners on May 31, 2016 to “Buy”, Firm has raised the Price Target to $ 60 from a previous price target of $58 .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 .

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 $52.74 and hit $53.34 on the upside on Friday, eventually ending the session at $53.18, with a gain of 0.83% or 0.44 points. The heightened volatility saw the trading volume jump to 14,13,634 shares. Company has a market cap of $2,360 M.

In a different news, on Jul 13, 2016, Russell Solt (director) sold 3,000 shares at $52.10 per share price. According to the SEC, on Jul 13, 2016, Jeffrey Paul Berger (director) sold 7,500 shares at $53.00 per share price. On Jul 13, 2016, Andrew D Stein (Senior Vice President) sold 10,000 shares at $53.00 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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