Lowe’s Companies (NYSE:LOW) Earns Buy Rating from Analysts at Melius Research

Stock analysts at Melius Research started coverage on shares of Lowe’s Companies (NYSE:LOW) in a report issued on Monday, Benzinga reports. The firm set a “buy” rating and a $290.00 price target on the home improvement retailer’s stock. Melius Research’s price target suggests a potential upside of 11.32% from the company’s previous close.

Several other equities research analysts have also recently commented on LOW. TD Cowen boosted their price target on Lowe’s Companies from $240.00 to $265.00 and gave the company a “hold” rating in a research note on Thursday. JPMorgan Chase & Co. decreased their target price on shares of Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 21st. Wedbush reiterated a “neutral” rating and issued a $250.00 price objective on shares of Lowe’s Companies in a research note on Wednesday, August 21st. Truist Financial boosted their price target on Lowe’s Companies from $265.00 to $269.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Finally, Piper Sandler dropped their price objective on Lowe’s Companies from $264.00 to $262.00 and set an “overweight” rating for the company in a research note on Wednesday, August 21st. Twelve investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $255.00.

Lowe’s Companies Price Performance

LOW traded up $0.36 on Monday, reaching $260.50. 754,386 shares of the company traded hands, compared to its average volume of 2,483,206. The company has a market cap of $148.44 billion, a price-to-earnings ratio of 20.92, a PEG ratio of 2.03 and a beta of 1.10. The stock’s 50 day moving average price is $243.58 and its 200-day moving average price is $235.32. Lowe’s Companies has a 52-week low of $181.85 and a 52-week high of $262.49.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share for the quarter, topping analysts’ consensus estimates of $3.96 by $0.14. The business had revenue of $23.59 billion for the quarter, compared to the consensus estimate of $23.93 billion. Lowe’s Companies had a net margin of 8.25% and a negative return on equity of 47.07%. Lowe’s Companies’s revenue for the quarter was down 5.5% compared to the same quarter last year. During the same period in the prior year, the business posted $4.56 earnings per share. As a group, equities research analysts forecast that Lowe’s Companies will post 11.93 earnings per share 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 stock was sold at an average price of $248.82, for a total value of $1,684,262.58. Following the completion of the transaction, the chief accounting officer now 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 is available through the SEC website. 0.26% of the stock is currently owned by company insiders.

Institutional Trading of Lowe’s Companies

Institutional investors have recently made changes to their positions in the company. Anchor Investment Management LLC lifted its stake in Lowe’s Companies by 1.4% during the second quarter. Anchor Investment Management LLC now owns 44,376 shares of the home improvement retailer’s stock worth $9,783,000 after purchasing an additional 604 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of Lowe’s Companies by 69.3% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 74,500 shares of the home improvement retailer’s stock worth $16,424,000 after acquiring an additional 30,500 shares during the last quarter. Verity & Verity LLC boosted its stake in shares of Lowe’s Companies by 2.7% in the 2nd quarter. Verity & Verity LLC now owns 32,630 shares of the home improvement retailer’s stock valued at $7,194,000 after purchasing an additional 857 shares in the last quarter. Prio Wealth Limited Partnership increased its stake in shares of Lowe’s Companies by 5.5% during the second quarter. Prio Wealth Limited Partnership now owns 6,764 shares of the home improvement retailer’s stock valued at $1,491,000 after buying an additional 350 shares during the period. Finally, Cannon Financial Strategists Inc. bought a new position in shares of Lowe’s Companies during the second quarter valued at approximately $218,000. Institutional investors own 74.06% of the company’s stock.

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.