Sanford C. Bernstein Initiates Coverage on Lowe’s Companies (NYSE:LOW)

Investment analysts at Sanford C. Bernstein initiated coverage on shares of Lowe’s Companies (NYSE:LOW) in a research report issued on Tuesday, Marketbeat Ratings reports. The firm set an “outperform” rating and a $323.00 price target on the home improvement retailer’s stock. Sanford C. Bernstein’s target price indicates a potential upside of 19.58% from the company’s previous close.

Several other brokerages have also commented on LOW. Melius Research initiated coverage on Lowe’s Companies in a report on Monday, September 23rd. They issued a “buy” rating and a $290.00 price objective for the company. Loop Capital raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating and upped their price target for the company from $250.00 to $300.00 in a research report on Wednesday, October 9th. Truist Financial raised their price objective on shares of Lowe’s Companies from $269.00 to $306.00 and gave the stock a “buy” rating in a report on Monday, October 14th. JPMorgan Chase & Co. reduced their target price on shares of Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating for the company in a report on Wednesday, August 21st. Finally, Bank of America lifted their price target on shares of Lowe’s Companies from $275.00 to $305.00 and gave the stock a “buy” rating in a research note on Friday, October 11th. Eleven analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, Lowe’s Companies currently has a consensus rating of “Moderate Buy” and an average target price of $270.60.

Lowe’s Companies Stock Down 0.4 %

Shares of NYSE LOW opened at $270.11 on Tuesday. The company has a 50 day moving average of $259.66 and a 200 day moving average of $239.47. Lowe’s Companies has a twelve month low of $181.85 and a twelve month high of $287.01. The firm has a market cap of $153.92 billion, a P/E ratio of 21.70, a PEG ratio of 2.28 and a beta of 1.10.

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 the consensus estimate 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 firm had revenue of $23.59 billion during the quarter, compared to analysts’ expectations of $23.93 billion. During the same quarter in the previous year, the business earned $4.56 earnings per share. The company’s revenue was down 5.5% on a year-over-year basis. As a group, equities analysts expect that Lowe’s Companies will post 11.91 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Lowe’s Companies news, EVP Margrethe R. Vagell sold 5,730 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $271.45, for a total transaction of $1,555,408.50. Following the completion of the transaction, the executive vice president now owns 13,214 shares in the company, valued at $3,586,940.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In other 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 in the company, valued at approximately $2,334,678.06. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Margrethe R. Vagell sold 5,730 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $271.45, for a total transaction of $1,555,408.50. Following the completion of the transaction, the executive vice president now directly 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 disclosure for this sale can be found here. 0.26% of the stock is owned by company insiders.

Institutional Investors Weigh In On Lowe’s Companies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Crew Capital Management Ltd. increased its position in shares of Lowe’s Companies by 1.0% during the 3rd quarter. Crew Capital Management Ltd. now owns 3,873 shares of the home improvement retailer’s stock valued at $1,049,000 after purchasing an additional 37 shares during the last quarter. Clean Yield Group increased its position in Lowe’s Companies by 2.4% during the third quarter. Clean Yield Group now owns 1,599 shares of the home improvement retailer’s stock valued at $433,000 after acquiring an additional 38 shares during the last quarter. Drive Wealth Management LLC raised its stake in shares of Lowe’s Companies by 2.2% in the second quarter. Drive Wealth Management LLC now owns 1,894 shares of the home improvement retailer’s stock valued at $418,000 after acquiring an additional 41 shares during the period. Chapin Davis Inc. raised its stake in shares of Lowe’s Companies by 1.3% in the third quarter. Chapin Davis Inc. now owns 3,082 shares of the home improvement retailer’s stock valued at $835,000 after acquiring an additional 41 shares during the period. Finally, McKinley Carter Wealth Services Inc. lifted its holdings in shares of Lowe’s Companies by 0.3% in the 3rd quarter. McKinley Carter Wealth Services Inc. now owns 12,846 shares of the home improvement retailer’s stock worth $3,479,000 after acquiring an additional 41 shares during the last quarter. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

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.