Lowe’s Companies (NYSE:LOW) had its price objective boosted by equities research analysts at Morgan Stanley from $115.00 to $125.00 in a research note issued to investors on Thursday, Stock Target Advisor reports. The firm presently has an “overweight” rating on the home improvement retailer’s stock. Morgan Stanley’s target price points to a potential upside of 18.64% from the company’s previous close.
Several other brokerages have also recently commented on LOW. Royal Bank of Canada boosted their price target on Lowe’s Companies to $118.00 and gave the stock an “outperform” rating in a research report on Thursday, August 23rd. Loop Capital set a $115.00 price target on Lowe’s Companies and gave the stock a “buy” rating in a research report on Wednesday, July 18th. Bank of America set a $132.00 price target on Lowe’s Companies and gave the stock a “buy” rating in a research report on Tuesday, October 2nd. Robert W. Baird reiterated an “outperform” rating and set a $130.00 price target (up from $120.00) on shares of Lowe’s Companies in a research report on Monday, September 17th. Finally, SunTrust Banks upgraded Lowe’s Companies from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a research report on Friday, September 28th. Eight equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $112.30.
Lowe’s Companies stock opened at $105.36 on Thursday. The company has a market capitalization of $92.81 billion, a PE ratio of 23.94, a price-to-earnings-growth ratio of 1.54 and a beta of 1.39. Lowe’s Companies has a 12 month low of $75.36 and a 12 month high of $117.70. The company has a debt-to-equity ratio of 2.58, a current ratio of 1.06 and a quick ratio of 0.25.
Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings data on Wednesday, August 22nd. The home improvement retailer reported $2.07 EPS for the quarter, beating the Zacks’ consensus estimate of $2.02 by $0.05. Lowe’s Companies had a return on equity of 71.96% and a net margin of 5.58%. The business had revenue of $20.89 billion during the quarter, compared to analysts’ expectations of $20.79 billion. During the same period in the previous year, the business earned $1.57 earnings per share. The business’s revenue was up 7.1% compared to the same quarter last year. As a group, equities analysts predict that Lowe’s Companies will post 5.19 EPS for the current fiscal year.
In related news, Director Lisa W. Wardell bought 273 shares of the company’s stock in a transaction on Friday, August 24th. The stock was bought at an average cost of $107.72 per share, for a total transaction of $29,407.56. Following the acquisition, the director now directly owns 273 shares in the company, valued at $29,407.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Marshall A. Croom sold 15,735 shares of the company’s stock in a transaction on Tuesday, September 18th. The shares were sold at an average price of $114.61, for a total value of $1,803,388.35. Following the completion of the sale, the chief financial officer now owns 63,099 shares of the company’s stock, valued at $7,231,776.39. The disclosure for this sale can be found here. 0.30% of the stock is owned by corporate insiders.
Several institutional investors have recently made changes to their positions in the company. Pittenger & Anderson Inc. lifted its stake in shares of Lowe’s Companies by 1.0% in the 3rd quarter. Pittenger & Anderson Inc. now owns 60,775 shares of the home improvement retailer’s stock valued at $6,978,000 after purchasing an additional 605 shares during the last quarter. Lourd Capital LLC acquired a new position in shares of Lowe’s Companies in the 3rd quarter valued at $382,000. Pioneer Trust Bank N A OR lifted its stake in shares of Lowe’s Companies by 11.3% in the 3rd quarter. Pioneer Trust Bank N A OR now owns 49,353 shares of the home improvement retailer’s stock valued at $5,666,000 after purchasing an additional 5,025 shares during the last quarter. Ipswich Investment Management Co. Inc. acquired a new position in shares of Lowe’s Companies in the 3rd quarter valued at $222,000. Finally, Smith Shellnut Wilson LLC ADV acquired a new position in shares of Lowe’s Companies in the 3rd quarter valued at $2,879,000. 74.49% of the stock is currently owned by institutional investors and hedge funds.
About Lowe’s Companies
Lowe's Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States, Canada, and Mexico. It offers a line of products for maintenance, repair, remodeling, and decorating. The company provides home improvement products in various categories, such as lumber and building materials, tools and hardware, appliances, fashion fixtures, rough plumbing and electrical, seasonal and outdoor living, lawn and garden, paint, millwork, flooring, and kitchens, as well as outdoor power equipment.
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