Barclays Downgrades Big Lots

In a research note released Monday, Barclays analyst Meredith Adler downgraded Big Lots BIG to Equal-weight.

The firm stated that the market is “clearly excited” about the changes occurring at Big Lots. In the first quarter of 2014, the retailer reported its first quarter with positive comparable since the fourth quarter of 2011, with a 0.9 percent rise.

The firm is raising its second quarter 2014 estimates by $0.02 to $0.27 versus guidance of $0.24 to $0.30. In addition, the firm is lowering full-year 2015 EPS from $3.00 to $2.85, representing fewer shares being repurchased.

Shares of the retailer closed Monday at $43.06, up 16.22 percent since last Thursday.