Barclays Maintains an 'Overweight' on Big Lots (BIG); Q1 Preview

May 17, 2012 3:26 PM EDT
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Price: $49.21 -2.03%

Rating Summary:
    11 Buy, 15 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 23 | Down: 34 | New: 34
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Barclays maintains an 'Overweight' on Big Lots (NYSE: BIG) price target of $43.00.

Analyst, Meredith Alder, said, "We are maintainting our recently lowered 1Q12 EPS of $0.67 vs. consensus of $0.69...BIG is trading at a compelling valuation of 10.2x our adjusted FY12 EPS of $3.56, which adds back Canadian losses but backs out the benefit of the extra week...While we don't know the causes of the recent sales weakness, we do not believe they are a sign of fundamental problems in the business but more likely reflect the natural sales variability tied to the closeout model."

Note - Barclays recently upgraded BIG (May 10th) after the sharp drop on weak Q1 sales.

For an analyst ratings summary and ratings history on Big Lots click here. For more ratings news on Big Lots click here.

Shares of Big Lots closed at $36.15 yesterday.

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