Big Lots Receives a Buy from Oppenheimer

By Carrie Williams

Oppenheimer analyst Brian Nagel assigned a Buy rating to Big Lots (NYSE: BIG) today and set a price target of $60. The company’s shares opened today at $48.15.

According to TipRanks.com, Nagel is a 4-star analyst with an average return of 1.8% and a 47.0% success rate. Nagel covers the Services sector, focusing on stocks such as Dick’s Sporting Goods, Advance Auto Parts, and Lumber Liquidators.

Big Lots has an analyst consensus of Strong Buy, with a price target consensus of $57.60.

The company has a one year high of $56.30 and a one year low of $33.78. Currently, Big Lots has an average volume of 1.03M.

Based on the recent corporate insider activity of 33 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of BIG in relation to earlier this year. Most recently, in June 2015, David Campisi, the CEO & President of BIG sold 1,600 shares for a total of $75,488.

Big Lots, Inc. operates broad line closeout retail stores. It operates under following merchandise categories which include Food, Consumables, Soft Home, Hard Home, Furniture, Seasonal, and Electronics & Accessories. The Food category includes beverage & grocery, candy and snacks, and specialty food departments. The Consumables category comprises health and beauty, plastics, paper, chemical, and pet departments. The Soft Home category includes home décor, frames, fashion bedding, utility bedding, bath, window, decorative textile, and area rugs departments. The Hard Home category consists of small appliances, table top, food preparation, stationery, greeting cards, tools, paint, and home maintenance departments. The Furniture category includes upholstery, mattress, ready-to-assemble, case goods, home decor, and frames departments. The Seasonal category maintains lawn and garden, summer, Christmas, toys, books, sporting goods, and other holiday departments. The Electronics & Accessories category includes the electronics, jewelry, apparel, hosiery, and infant accessories departments. The company was founded by Sol A. Shenk in 1967 and is headquartered in Columbus, OH.