Lowe's Companies Price Target Lowered to $47.00 at Canaccord Genuity (LOW)
Stock analysts at Canaccord Genuity reduced their price objective on shares of Lowe's Companies (NYSE:LOW) from $50.00 to $47.00 in a report issued on Wednesday. The firm currently has a “hold” rating on the stock. Canaccord Genuity’s price objective points to a potential upside of 3.25% from the company’s current price.
Lowe's Companies (NYSE:LOW) traded down 0.81% on Wednesday, hitting $45.15. The stock had a trading volume of 4,834,112 shares. Lowe's Companies has a 52 week low of $38.87 and a 52 week high of $52.08. The stock’s 50-day moving average is $46.55 and its 200-day moving average is $47.89. The company has a market cap of $45.998 billion and a P/E ratio of 21.27. Lowe's Companies also was the target of unusually large options trading on Monday. Stock traders purchased 3,986 put options on the stock. This represents an increase of approximately 124% compared to the typical daily volume of 1,777 put options.
Lowe's Companies (NYSE:LOW) last released its earnings data on Wednesday, May 21st. The company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.01. The company had revenue of $13.40 billion for the quarter, compared to the consensus estimate of $13.86 billion. During the same quarter in the previous year, the company posted $0.49 earnings per share. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. Analysts expect that Lowe's Companies will post $2.62 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on LOW. Analysts at Jefferies Group reiterated a “hold” rating on shares of Lowe's Companies in a research note on Wednesday, May 14th. They now have a $45.00 price target on the stock, up previously from $44.00. Separately, analysts at Wall Street Renegade upgraded shares of Lowe's Companies from a “hold” rating to a “buy” rating in a research note on Friday, March 14th. They now have a $60.00 price target on the stock, up previously from $50.00. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Lowe's Companies in a research note on Friday, March 14th. They now have a $51.00 price target on the stock. Ten research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $50.35.
Lowe’s Companies, Inc (NYSE:LOW) is a home improvement retailer.
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