Lowe’s Companies (NYSE:LOW) Raised to Buy at Loop Capital

Lowe’s Companies (NYSE:LOW) was upgraded by equities researchers at Loop Capital from a “hold” rating to a “buy” rating in a research note issued on Wednesday, Benzinga reports. The brokerage presently has a $300.00 price objective on the home improvement retailer’s stock, up from their prior price objective of $250.00. Loop Capital’s price target indicates a potential upside of 9.78% from the stock’s current price.

Other research analysts also recently issued research reports about the company. Wells Fargo & Company reduced their target price on Lowe’s Companies from $290.00 to $280.00 and set an “overweight” rating on the stock in a report on Wednesday, August 21st. Wedbush reaffirmed a “neutral” rating and set a $250.00 target price on shares of Lowe’s Companies in a report on Wednesday, August 21st. StockNews.com raised Lowe’s Companies from a “hold” rating to a “buy” rating in a report on Wednesday, September 18th. Truist Financial boosted 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, Bank of America reduced their price objective on Lowe’s Companies from $280.00 to $275.00 and set a “buy” rating for the company in a research report on Wednesday, August 21st. Eleven analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $265.63.

Lowe’s Companies Stock Up 1.8 %

NYSE:LOW opened at $273.27 on Wednesday. The business’s 50 day moving average is $250.19 and its two-hundred day moving average is $237.01. Lowe’s Companies has a 52 week low of $181.85 and a 52 week high of $274.26. The company has a market cap of $155.72 billion, a PE ratio of 21.95, a P/E/G ratio of 2.15 and a beta of 1.10.

Lowe’s Companies (NYSE:LOW) last released 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. 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 the consensus estimate of $23.93 billion. During the same quarter last year, the business posted $4.56 EPS. Lowe’s Companies’s quarterly revenue was down 5.5% compared to the same quarter last year. As a group, sell-side analysts expect that Lowe’s Companies will post 11.93 EPS for the current fiscal year.

Insider Transactions at Lowe’s Companies

In other news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the business’s stock in a transaction on 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 sale, the chief accounting officer now owns 9,383 shares of the company’s stock, valued at approximately $2,334,678.06. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Margrethe R. Vagell sold 5,730 shares of the business’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $271.45, for a total value of $1,555,408.50. Following the sale, the executive vice president now owns 13,214 shares of the company’s stock, valued at approximately $3,586,940.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the business’s stock in a transaction on 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 in the company, valued at $2,334,678.06. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.26% of the company’s stock.

Institutional Investors Weigh In On Lowe’s Companies

A number of institutional investors and hedge funds have recently modified their holdings of LOW. Voisard Asset Management Group Inc. acquired a new stake in shares of Lowe’s Companies during the fourth quarter worth $28,000. Transcendent Capital Group LLC acquired a new stake in shares of Lowe’s Companies during the fourth quarter worth $31,000. Stephens Consulting LLC raised its position in shares of Lowe’s Companies by 93.3% during the second quarter. Stephens Consulting LLC now owns 145 shares of the home improvement retailer’s stock worth $32,000 after purchasing an additional 70 shares during the period. Keener Financial Planning LLC acquired a new stake in shares of Lowe’s Companies during the first quarter worth $35,000. Finally, Kimelman & Baird LLC acquired a new stake in shares of Lowe’s Companies during the second quarter worth $37,000. 74.06% of the stock is 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.