The S&P was lower by 12.7 points, or 0.9%, to 1,392.84.
Shares of Big Lots dropped 5.66% to $43.01. Big Lots has had a series of insider trades in March, including a sale by the retailer's CEO of 227,500 shares on March 20 at $45.23 a share.
Shares of Big Lots hit a 52-week high Tuesday of $47.20. The stock's 52-week low of $28.89 was set on Aug. 8.Big Lots has an estimated price-to-earnings ratio for next year of 10.63 times; the average for broad-line retailers is 20.85. For comparison, both Wal-Mart (WMT) and Amazon (AMZN) have higher forward P/Es of 11.47 and 49.39, respectively. Twelve of the 17 analysts who cover Big Lots rated it buy; five analysts gave the stock a hold rating. TheStreet Ratings gives Big Lots an A- grade with a buy rating and a $59.54 price target. The stock has risen 13.72% year to date.
>To contact the writer of this article, click here: Alexandra Zendrian >To submit a news tip, send an email to: email@example.com. >To follow the writer on Twitter, go to Alexandra Zendrian.