Lowe’s Companies, Inc. (LOW) Price Target Raised to $89.00
Lowe’s Companies, Inc. (NYSE:LOW) had its price objective boosted by research analysts at Royal Bank Of Canada from $84.00 to $89.00 in a research note issued on Wednesday. The firm presently has an “outperform” rating on the home improvement retailer’s stock. Royal Bank Of Canada’s price target suggests a potential upside of 10.44% from the stock’s previous close.
A number of other research firms have also recently commented on LOW. Zacks Investment Research upgraded Lowe’s Companies from a “sell” rating to a “hold” rating in a report on Monday, September 11th. J P Morgan Chase & Co reiterated a “neutral” rating and set a $83.00 price target (down previously from $89.00) on shares of Lowe’s Companies in a report on Thursday, August 24th. BMO Capital Markets reiterated a “hold” rating and set a $82.00 price target on shares of Lowe’s Companies in a report on Thursday, November 2nd. Longbow Research reiterated a “buy” rating and set a $95.00 price target on shares of Lowe’s Companies in a report on Monday, August 14th. Finally, Morgan Stanley reduced their price target on Lowe’s Companies from $88.00 to $81.00 and set an “overweight” rating for the company in a report on Thursday, August 24th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and fifteen have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $86.16.
Lowe’s Companies (LOW) opened at $80.59 on Wednesday. The firm has a market capitalization of $68,182.02, a PE ratio of 18.77, a PEG ratio of 1.31 and a beta of 1.13. The company has a quick ratio of 0.19, a current ratio of 1.03 and a debt-to-equity ratio of 2.85. Lowe’s Companies has a 1-year low of $69.70 and a 1-year high of $86.25.
Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings data on Tuesday, November 21st. The home improvement retailer reported $1.05 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.03 by $0.02. Lowe’s Companies had a return on equity of 62.02% and a net margin of 4.51%. The company had revenue of $16.77 billion during the quarter, compared to analysts’ expectations of $16.59 billion. During the same quarter last year, the company earned $0.88 EPS. Lowe’s Companies’s revenue for the quarter was up 6.6% compared to the same quarter last year. sell-side analysts expect that Lowe’s Companies will post 4.5 earnings per share for the current fiscal year.
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In related news, insider Paul D. Ramsay sold 2,098 shares of the business’s stock in a transaction on Tuesday, September 19th. The shares were sold at an average price of $78.02, for a total value of $163,685.96. Following the sale, the insider now owns 8,400 shares of the company’s stock, valued at $655,368. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Matthew V. Hollifield sold 7,853 shares of the business’s stock in a transaction on Friday, September 22nd. The stock was sold at an average price of $78.30, for a total transaction of $614,889.90. Following the completion of the sale, the senior vice president now directly owns 30,750 shares in the company, valued at approximately $2,407,725. The disclosure for this sale can be found here. Insiders own 0.11% of the company’s stock.
Several institutional investors have recently modified their holdings of LOW. Stifel Financial Corp grew its stake in shares of Lowe’s Companies by 5.1% in the first quarter. Stifel Financial Corp now owns 617,238 shares of the home improvement retailer’s stock worth $50,687,000 after purchasing an additional 29,739 shares during the last quarter. SG Americas Securities LLC grew its stake in shares of Lowe’s Companies by 208.1% in the first quarter. SG Americas Securities LLC now owns 90,170 shares of the home improvement retailer’s stock worth $7,413,000 after purchasing an additional 173,597 shares during the last quarter. Winfield Associates Inc. lifted its holdings in Lowe’s Companies by 0.6% in the first quarter. Winfield Associates Inc. now owns 2,392 shares of the home improvement retailer’s stock valued at $196,000 after buying an additional 15 shares during the period. Cipher Capital LP lifted its holdings in Lowe’s Companies by 66.9% in the first quarter. Cipher Capital LP now owns 107,456 shares of the home improvement retailer’s stock valued at $8,834,000 after buying an additional 43,057 shares during the period. Finally, Victory Capital Management Inc. lifted its holdings in Lowe’s Companies by 277.6% in the first quarter. Victory Capital Management Inc. now owns 114,081 shares of the home improvement retailer’s stock valued at $9,379,000 after buying an additional 83,867 shares during the period. 74.00% of the stock is currently owned by institutional investors.
About Lowe’s Companies
Lowe’s Companies, Inc (Lowe’s) is a home improvement company. The Company operates approximately 2,370 home improvement and hardware stores. The Company offers a range of products for maintenance, repair, remodeling and decorating. The Company offers home improvement products in categories, including Lumber and Building Materials; Tools and Hardware; Appliances; Fashion Fixtures; Rough Plumbing and Electrical; Lawn and Garden; Seasonal and Outdoor Living; Paint; Flooring; Millwork, and Kitchens.
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