Lowe’s Companies (NYSE:LOW) Upgraded at StockNews.com

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

Several other analysts also recently weighed in on the company. Telsey Advisory Group reiterated a “market perform” rating and set a $230.00 price target on shares of Lowe’s Companies in a research note on Tuesday, August 20th. Gordon Haskett cut their price target on shares of Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating for the company in a report on Wednesday, August 21st. Morgan Stanley boosted their price target on Lowe’s Companies from $250.00 to $255.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. UBS Group boosted their target price on Lowe’s Companies from $270.00 to $290.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. Finally, Evercore ISI raised their price objective on shares of Lowe’s Companies from $225.00 to $250.00 and gave the stock an “in-line” rating in a research report on Wednesday, August 21st. Twelve analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, Lowe’s Companies presently has an average rating of “Hold” and an average price target of $252.83.

Lowe’s Companies Price Performance

Lowe’s Companies stock traded down $0.09 during mid-day trading on Wednesday, reaching $256.63. 1,625,197 shares of the stock traded hands, compared to its average volume of 2,483,172. Lowe’s Companies has a 12-month low of $181.85 and a 12-month high of $262.49. The stock has a market capitalization of $146.24 billion, a PE ratio of 20.61, a price-to-earnings-growth ratio of 2.03 and a beta of 1.10. The business’s 50-day moving average is $242.43 and its 200-day moving average is $235.09.

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

Insider Buying and Selling

In other Lowe’s Companies news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $248.82, for a total transaction of $1,684,262.58. Following the sale, the chief accounting officer now directly owns 9,383 shares of the company’s stock, valued at $2,334,678.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.26% of the company’s stock.

Institutional Investors Weigh In On Lowe’s Companies

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Lowe’s Companies by 5.2% during the 1st quarter. Vanguard Group Inc. now owns 53,693,630 shares of the home improvement retailer’s stock worth $13,677,378,000 after buying an additional 2,674,372 shares during the last quarter. Strategic Financial Concepts LLC increased its position in Lowe’s Companies by 20,275.6% during the 2nd quarter. Strategic Financial Concepts LLC now owns 1,205,014 shares of the home improvement retailer’s stock worth $2,657,000 after purchasing an additional 1,199,100 shares in the last quarter. M&G Plc acquired a new stake in shares of Lowe’s Companies during the 1st quarter valued at $217,995,000. Pathstone Holdings LLC bought a new stake in shares of Lowe’s Companies during the fourth quarter worth about $126,615,000. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of Lowe’s Companies by 36.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,840,704 shares of the home improvement retailer’s stock worth $468,884,000 after purchasing an additional 493,180 shares during the last quarter. 74.06% 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. 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.