Lowe’s (NYSE:LOW) was upgraded by stock analysts at Loop Capital from a “hold” rating to a “buy” rating in a report issued on Wednesday, MarketBeat.com reports. The firm presently has a $107.00 price target on the home improvement retailer’s stock. Loop Capital’s target price would indicate a potential upside of 10.89% from the company’s previous close.
Other analysts also recently issued research reports about the company. Stifel Nicolaus reissued a “buy” rating and issued a $124.00 price target (up previously from $103.00) on shares of Lowe’s in a research note on Wednesday, January 24th. Deutsche Bank set a $107.00 price target on Lowe’s and gave the company a “buy” rating in a research note on Thursday, March 1st. Jefferies Group raised Lowe’s from a “hold” rating to a “buy” rating and lifted their price target for the company from $81.00 to $129.00 in a research note on Monday, February 5th. Zacks Investment Research raised Lowe’s from a “hold” rating to a “buy” rating and set a $116.00 price target on the stock in a research note on Friday, February 2nd. Finally, Gabelli initiated coverage on Lowe’s in a research note on Wednesday, April 11th. They issued a “buy” rating and a $113.00 price target on the stock. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and twenty-six have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $100.10.
Lowe’s opened at $96.49 on Wednesday, MarketBeat.com reports. Lowe’s has a 1-year low of $70.76 and a 1-year high of $108.98. The stock has a market cap of $78.59 billion, a price-to-earnings ratio of 21.98, a price-to-earnings-growth ratio of 1.00 and a beta of 1.33. The company has a debt-to-equity ratio of 2.60, a quick ratio of 0.11 and a current ratio of 1.02.
Lowe’s (NYSE:LOW) last released its quarterly earnings results on Wednesday, May 23rd. The home improvement retailer reported $1.19 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.22 by ($0.03). Lowe’s had a net margin of 5.55% and a return on equity of 66.36%. The firm had revenue of $17.36 billion during the quarter, compared to analyst estimates of $17.44 billion. During the same period in the prior year, the business earned $1.03 EPS. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. analysts predict that Lowe’s will post 5.45 earnings per share for the current year.
Lowe’s declared that its Board of Directors has authorized a share repurchase program on Friday, January 26th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the home improvement retailer to reacquire shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Glenview State Bank Trust DEPT. acquired a new position in Lowe’s during the fourth quarter worth approximately $204,000. Clark Capital Management Group Inc. increased its position in Lowe’s by 10.1% during the fourth quarter. Clark Capital Management Group Inc. now owns 11,156 shares of the home improvement retailer’s stock worth $1,037,000 after buying an additional 1,019 shares during the last quarter. TRUE Private Wealth Advisors acquired a new position in Lowe’s during the fourth quarter worth approximately $465,000. Capital Investment Advisory Services LLC increased its position in Lowe’s by 14.5% during the fourth quarter. Capital Investment Advisory Services LLC now owns 36,026 shares of the home improvement retailer’s stock worth $3,348,000 after buying an additional 4,563 shares during the last quarter. Finally, Meadow Creek Investment Management LLC increased its position in Lowe’s by 49.7% during the fourth quarter. Meadow Creek Investment Management LLC now owns 23,584 shares of the home improvement retailer’s stock worth $2,192,000 after buying an additional 7,832 shares during the last quarter. 72.83% of the stock is currently owned by hedge funds and other institutional investors.
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.
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