Lowe’s Companies, Inc. (NYSE:LOW)‘s stock had its “outperform” rating reaffirmed by investment analysts at Credit Suisse Group in a research note issued on Monday, Marketbeat reports. They presently have a $94.00 target price on the home improvement retailer’s stock. Credit Suisse Group’s price objective would indicate a potential upside of 28.75% from the company’s current price. The analysts noted that the move was a valuation call.
Other analysts also recently issued reports about the company. BMO Capital Markets reaffirmed a “buy” rating and set a $89.00 price objective on shares of Lowe’s Companies in a research note on Friday, May 5th. Goldman Sachs Group, Inc. (The) reduced their price objective on Lowe’s Companies from $97.00 to $96.00 and set a “buy” rating for the company in a research note on Thursday, May 25th. Stifel Nicolaus reduced their price objective on Lowe’s Companies from $89.00 to $87.00 and set a “buy” rating for the company in a research note on Thursday, May 25th. Oppenheimer Holdings, Inc. set a $100.00 price objective on Lowe’s Companies and gave the company a “buy” rating in a research note on Wednesday, May 24th. Finally, BTIG Research reaffirmed a “buy” rating and set a $95.00 price objective (up from $90.00) on shares of Lowe’s Companies in a research note on Friday, May 19th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $84.99.
Shares of Lowe’s Companies (NYSE:LOW) opened at 73.01 on Monday. The company has a market capitalization of $61.64 billion, a P/E ratio of 22.89 and a beta of 1.08. Lowe’s Companies has a 1-year low of $64.87 and a 1-year high of $86.25. The firm’s 50 day moving average price is $76.21 and its 200-day moving average price is $79.55. Lowe’s Companies also was the recipient of some unusual options trading on Monday. Traders bought 6,466 put options on the stock. This is an increase of 538% compared to the average daily volume of 1,014 put options.
Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings data on Wednesday, August 23rd. The home improvement retailer reported $1.57 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.62 by $0.05. The company had revenue of $19.50 billion for the quarter, compared to analysts’ expectations of $19.58 billion. Lowe’s Companies had a net margin of 4.22% and a return on equity of 56.78%. The firm’s revenue was up 6.8% on a year-over-year basis. During the same period in the prior year, the company earned $1.37 earnings per share. Analysts expect that Lowe’s Companies will post $4.62 EPS for the current year.
In related news, insider Richard D. Maltsbarger sold 11,672 shares of the stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $80.20, for a total value of $936,094.40. Following the transaction, the insider now directly owns 37,716 shares of the company’s stock, valued at approximately $3,024,823.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.11% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vantage Financial Partners Ltd. Inc. bought a new position in Lowe’s Companies during the second quarter valued at approximately $233,000. SRS Capital Advisors Inc. raised its position in Lowe’s Companies by 0.4% in the first quarter. SRS Capital Advisors Inc. now owns 1,236 shares of the home improvement retailer’s stock valued at $101,000 after buying an additional 5 shares during the period. Washington Trust Bank raised its position in Lowe’s Companies by 27.4% in the first quarter. Washington Trust Bank now owns 1,238 shares of the home improvement retailer’s stock valued at $102,000 after buying an additional 266 shares during the period. Harbour Capital Advisors LLC bought a new position in Lowe’s Companies during the first quarter valued at approximately $103,000. Finally, State of Alaska Department of Revenue bought a new position in Lowe’s Companies during the first quarter valued at approximately $109,000. 74.65% of the stock is currently owned by institutional investors.
Lowe’s Companies Company Profile
Lowe’s Companies, Inc (Lowe’s) is a home improvement retailer. The Company operates approximately 1,860 home improvement and hardware stores, representing approximately 200 million square feet of retail selling space. The Company operates approximately 1,800 stores located across over 50 states in the United States, including approximately 80 Orchard Supply Hardware (Orchard) stores in California and Oregon, as well as approximately 40 stores in Canada and over 10 stores in Mexico.
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