Lowe’s Companies (NYSE:LOW) Raised to “Buy” at StockNews.com

Lowe’s Companies (NYSE:LOW) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Wednesday.

A number of other brokerages have also recently commented on LOW. Telsey Advisory Group reiterated a “market perform” rating and set a $230.00 price target on shares of Lowe’s Companies in a research report on Tuesday, August 20th. JPMorgan Chase & Co. decreased their price target on shares of Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating for the company in a research note on Wednesday, August 21st. Wells Fargo & Company lowered their price target on shares of Lowe’s Companies from $290.00 to $280.00 and set an “overweight” rating for the company in a research report on Wednesday, August 21st. Royal Bank of Canada cut their target price on Lowe’s Companies from $245.00 to $238.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 21st. Finally, Truist Financial boosted their price objective on shares of Lowe’s Companies from $265.00 to $269.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. Twelve equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $252.83.

Lowe’s Companies Trading Down 0.0 %

Shares of NYSE:LOW traded down $0.09 during midday trading on Wednesday, reaching $256.63. The company had a trading volume of 1,625,197 shares, compared to its average volume of 2,483,172. The stock has a market cap of $146.24 billion, a P/E ratio of 20.61, a P/E/G ratio of 2.03 and a beta of 1.10. Lowe’s Companies has a 52-week low of $181.85 and a 52-week high of $262.49. The company’s 50 day moving average price is $242.43 and its 200 day moving average price is $235.09.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings data on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.96 by $0.14. Lowe’s Companies had a negative return on equity of 47.07% and a net margin of 8.25%. The company had revenue of $23.59 billion for the quarter, compared to analyst estimates of $23.93 billion. During the same period in the previous year, the company posted $4.56 EPS. The firm’s revenue for the quarter was down 5.5% compared to the same quarter last year. Research analysts forecast that Lowe’s Companies will post 11.93 EPS for the current fiscal year.

Insider Activity at Lowe’s Companies

In related news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $248.82, for a total value of $1,684,262.58. Following the completion of the sale, the chief accounting officer now directly owns 9,383 shares of the company’s stock, valued at approximately $2,334,678.06. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.26% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Tidemark LLC acquired a new position in Lowe’s Companies during the fourth quarter worth about $27,000. Voisard Asset Management Group Inc. purchased a new stake in Lowe’s Companies in the 4th quarter valued at approximately $28,000. Transcendent Capital Group LLC purchased a new stake in Lowe’s Companies in the 4th quarter valued at approximately $31,000. Stephens Consulting LLC grew its holdings in Lowe’s Companies by 93.3% during the 2nd quarter. Stephens Consulting LLC now owns 145 shares of the home improvement retailer’s stock valued at $32,000 after buying an additional 70 shares during the last quarter. Finally, Keener Financial Planning LLC purchased a new position in Lowe’s Companies during the first quarter worth $35,000. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Lowe’s Companies Company Profile

Lowe's Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It also provides home improvement products, such as appliances, seasonal and outdoor living, lawn and garden, lumber, kitchens and bath, tools, paint, millwork, hardware, flooring, rough plumbing, building materials, décor, and electrical.