Wells Fargo Initiates Coverage on Lowe’s (LOW)

Research analysts at Wells Fargo assumed coverage on shares of Lowe’s (NYSE:LOW) in a research report issued to clients and investors on Monday, Marketbeat.com reports. The brokerage set an “outperform” rating and a $100.00 price target on the home improvement retailer’s stock. Wells Fargo’s price target would suggest a potential upside of 18.32% from the stock’s previous close.

A number of other equities analysts also recently commented on the stock. Credit Suisse Group set a $116.00 price objective on shares of Lowe’s and gave the stock a “buy” rating in a report on Tuesday, January 16th. Morgan Stanley set a $115.00 price objective on shares of Lowe’s and gave the stock a “buy” rating in a report on Monday, January 22nd. Barclays raised shares of Lowe’s from an “equal weight” rating to an “overweight” rating in a report on Friday, January 5th. BTIG Research lifted their price target on shares of Lowe’s to $115.00 and gave the company a “buy” rating in a report on Friday, January 19th. Finally, Telsey Advisory Group raised shares of Lowe’s from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $83.00 to $124.00 in a report on Thursday, January 25th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-four have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $98.49.

Shares of NYSE:LOW traded up $0.58 during midday trading on Monday, reaching $84.52. 281,275 shares of the company’s stock were exchanged, compared to its average volume of 7,045,905. The company has a market capitalization of $69,404.60, a price-to-earnings ratio of 19.21, a PEG ratio of 0.88 and a beta of 1.32. Lowe’s has a 12 month low of $70.76 and a 12 month high of $108.98. The company has a debt-to-equity ratio of 2.65, a quick ratio of 0.11 and a current ratio of 1.06.



Lowe’s (NYSE:LOW) last released its quarterly earnings data on Wednesday, February 28th. The home improvement retailer reported $0.74 EPS for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.13). The business had revenue of $15.49 billion for the quarter, compared to the consensus estimate of $15.34 billion. Lowe’s had a return on equity of 65.17% and a net margin of 5.02%. Lowe’s’s revenue was down 1.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.86 earnings per share. sell-side analysts forecast that Lowe’s will post 5.47 EPS for the current year.

Lowe’s announced that its Board of Directors has approved a stock repurchase program on Friday, January 26th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the home improvement retailer to buy shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Several large investors have recently modified their holdings of LOW. Almanack Investment Partners LLC. acquired a new stake in shares of Lowe’s during the 4th quarter worth approximately $106,000. Stonehearth Capital Management LLC acquired a new stake in shares of Lowe’s during the 4th quarter worth approximately $112,000. Truewealth LLC acquired a new stake in shares of Lowe’s during the 4th quarter worth approximately $128,000. Cerebellum GP LLC acquired a new stake in shares of Lowe’s during the 4th quarter worth approximately $129,000. Finally, Horan Capital Advisors LLC. acquired a new stake in shares of Lowe’s during the 3rd quarter worth approximately $134,000. Institutional investors own 73.65% of the company’s stock.

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Lowe’s Company Profile

Lowe's Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States, Canada, and Mexico. It offers a line of products for maintenance, repair, remodeling, and decorating. The company provides home improvement products in various categories, such as lumber and building materials, tools and hardware, appliances, fashion fixtures, rough plumbing and electrical, seasonal and outdoor living, lawn and garden, paint, millwork, flooring, and kitchens, as well as outdoor power equipment.

Analyst Recommendations for Lowe`s (NYSE:LOW)

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