Lowe’s Companies (NYSE:LOW) Lifted to Outperform at Oppenheimer

Lowe’s Companies (NYSE:LOW) was upgraded by equities researchers at Oppenheimer from a “market perform” rating to an “outperform” rating in a note issued to investors on Tuesday, Briefing.com reports. The firm presently has a $305.00 price objective on the home improvement retailer’s stock, up from their prior price objective of $230.00. Oppenheimer’s target price suggests a potential upside of 16.28% from the company’s current price.

LOW has been the subject of a number of other research reports. TD Cowen lifted their target price on shares of Lowe’s Companies from $240.00 to $265.00 and gave the stock a “hold” rating in a research report on Thursday, September 19th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $230.00 target price on shares of Lowe’s Companies in a research note on Tuesday, August 20th. Wedbush reissued a “neutral” rating and set a $250.00 price target on shares of Lowe’s Companies in a research report on Wednesday, August 21st. Truist Financial upped their price objective on Lowe’s Companies from $265.00 to $269.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. Finally, Gordon Haskett decreased their price objective on Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating on the stock in a research note on Wednesday, August 21st. Eleven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $258.13.

Lowe’s Companies Trading Up 0.8 %

LOW stock opened at $262.29 on Tuesday. The firm has a 50 day moving average of $244.18 and a 200-day moving average of $235.47. The company has a market cap of $149.46 billion, a price-to-earnings ratio of 21.07, a PEG ratio of 2.03 and a beta of 1.10. Lowe’s Companies has a 12-month low of $181.85 and a 12-month high of $262.49.

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

Insider Activity

In other Lowe’s Companies news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was 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 owns 9,383 shares in the company, valued at $2,334,678.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.26% of the company’s stock.

Institutional Trading of Lowe’s Companies

A number of institutional investors and hedge funds have recently modified their holdings of the business. Brevan Howard Capital Management LP raised its stake in Lowe’s Companies by 824.6% during the fourth quarter. Brevan Howard Capital Management LP now owns 15,339 shares of the home improvement retailer’s stock worth $3,414,000 after acquiring an additional 13,680 shares during the period. Bamco Inc. NY lifted its holdings in shares of Lowe’s Companies by 10.3% in the 1st quarter. Bamco Inc. NY now owns 216,958 shares of the home improvement retailer’s stock worth $55,266,000 after purchasing an additional 20,181 shares during the last quarter. Plato Investment Management Ltd lifted its holdings in shares of Lowe’s Companies by 655.9% in the 1st quarter. Plato Investment Management Ltd now owns 6,304 shares of the home improvement retailer’s stock worth $1,606,000 after purchasing an additional 5,470 shares during the last quarter. 17 Capital Partners LLC acquired a new position in Lowe’s Companies during the 1st quarter valued at approximately $1,368,000. Finally, Gerber LLC bought a new position in Lowe’s Companies during the 4th quarter worth $235,000. 74.06% of the stock is 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.