NEW YORK (TheStreet) -- Big Lots (BIG) - Get Report stock is rising by 2.91% to $52.43 on heavy trading volume on Tuesday afternoon, as shares of the discount retailer continue to benefit from Friday's strong fiscal first quarter report.

On Friday, shares of Big Lots jumped 14.12% after the company reported earnings of 82 cents per share on revenue of $1.31 billion for the quarter ended April 30.

Analysts surveyed by Thomson Reuters were estimating earnings of 70 cents per share on revenue of $1.3 billion.

"The strong performance, even as others struggled, validates management's approach and the growing relevance of the concept," MKM Partners analysts said in a note released this morning.

Analysts raised their price target to $60 from $58 on Big Lots' "buy"-rated stock.

So far today, 2.39 million shares of Big Lots have been traded, more than double its average daily volume of 1.04 million shares.

Separately, Big Lots has a "buy" rating and a letter grade of B+ at TheStreet Ratings because of the company's growth in earnings per share, attractive valuation levels, expanding profit margins, good cash flow from operations and increase in net income.

You can view the full analysis from the report here: BIG

TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author.

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