Why Big Lots (BIG) Stock Is Up Today

NEW YORK (TheStreet) -- Big Lots (BIG) stock is spiking Friday after the discounts chain reported better-than-expected net income and sales over its first quarter. 

By late morning, shares had popped 13% to $42.40. 

Over the three months to April, the company earned 50 cents a share, 6 cents higher than analysts surveyed by Thomson Reuters expected. Revenue of $1.28 billion exceeded estimates of $1.26 billion. 

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TheStreet Ratings team rates BIG LOTS INC as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:

"We rate BIG LOTS INC (BIG) a BUY. This is driven by a few notable strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures and expanding profit margins. We feel these strengths outweigh the fact that the company has had sub par growth in net income."

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