Lowe’s Companies, Inc. (LOW) Stock Rating Reaffirmed by Longbow Research
Lowe’s Companies, Inc. (NYSE:LOW)‘s stock had its “buy” rating reiterated by equities research analysts at Longbow Research in a report issued on Monday. They presently have a $95.00 price target on the home improvement retailer’s stock. Longbow Research’s price target points to a potential upside of 22.23% from the stock’s current price.
LOW has been the subject of several other reports. Oppenheimer Holdings, Inc. set a $100.00 price target on Lowe’s Companies and gave the stock a “buy” rating in a research note on Wednesday, May 24th. Wolfe Research reaffirmed an “outperform” rating and set a $94.00 price objective (down from $95.00) on shares of Lowe’s Companies in a report on Sunday, May 28th. Sanford C. Bernstein reaffirmed an “underperform” rating and set a $69.00 price objective on shares of Lowe’s Companies in a report on Wednesday, July 12th. BidaskClub raised Lowe’s Companies from a “strong sell” rating to a “sell” rating in a report on Wednesday, August 2nd. Finally, Zacks Investment Research raised Lowe’s Companies from a “hold” rating to a “buy” rating and set a $88.00 price objective on the stock in a report on Friday. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and sixteen have assigned a buy rating to the stock. Lowe’s Companies currently has a consensus rating of “Hold” and a consensus price target of $85.63.
Shares of Lowe’s Companies (NYSE:LOW) traded up 0.60% during midday trading on Monday, hitting $77.72. 3,602,793 shares of the stock were exchanged. Lowe’s Companies has a 52-week low of $64.87 and a 52-week high of $86.25. The stock has a market cap of $65.61 billion, a P/E ratio of 24.37 and a beta of 1.08. The firm’s 50 day moving average price is $76.74 and its 200-day moving average price is $79.53.
Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings results on Wednesday, May 24th. The home improvement retailer reported $1.03 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.06 by $0.03. Lowe’s Companies had a return on equity of 56.78% and a net margin of 4.22%. The business had revenue of $16.86 billion during the quarter, compared to the consensus estimate of $16.99 billion. During the same quarter in the previous year, the company earned $0.87 earnings per share. The company’s revenue for the quarter was up 10.7% compared to the same quarter last year. On average, equities research analysts expect that Lowe’s Companies will post $4.62 earnings per share for the current fiscal year.
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In other news, insider Richard D. Maltsbarger sold 11,672 shares of Lowe’s Companies stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $80.20, for a total value of $936,094.40. Following the sale, the insider now directly owns 37,716 shares of the company’s stock, valued at $3,024,823.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.11% of the company’s stock.
Several hedge funds have recently modified their holdings of LOW. SRS Capital Advisors Inc. raised its stake in shares of Lowe’s Companies by 0.4% in the first quarter. SRS Capital Advisors Inc. now owns 1,236 shares of the home improvement retailer’s stock worth $101,000 after buying an additional 5 shares in the last quarter. Washington Trust Bank raised its position in Lowe’s Companies by 27.4% in the first quarter. Washington Trust Bank now owns 1,238 shares of the home improvement retailer’s stock worth $102,000 after buying an additional 266 shares during the period. Harbour Capital Advisors LLC bought a new position in Lowe’s Companies during the first quarter worth $103,000. State of Alaska Department of Revenue bought a new position in Lowe’s Companies during the first quarter worth $109,000. Finally, Hanson McClain Inc. raised its position in Lowe’s Companies by 3.5% in the first quarter. Hanson McClain Inc. now owns 1,337 shares of the home improvement retailer’s stock worth $110,000 after buying an additional 45 shares during the period. 74.65% of the stock is currently owned by hedge funds and other institutional investors.
Lowe’s Companies Company Profile
Lowe’s Companies, Inc (Lowe’s) is a home improvement retailer. The Company operates approximately 1,860 home improvement and hardware stores, representing approximately 200 million square feet of retail selling space. The Company operates approximately 1,800 stores located across over 50 states in the United States, including approximately 80 Orchard Supply Hardware (Orchard) stores in California and Oregon, as well as approximately 40 stores in Canada and over 10 stores in Mexico.
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