Traders Buy Large Volume of Put Options on Lowe's Companies (LOW)
Shares of Lowe's Companies (NYSE:LOW) saw some unusual options trading activity on Tuesday. Traders purchased 11,081 put options on the company, Analyst Ratings.Net reports. This represents an increase of approximately 540% compared to the typical daily volume of 1,731 put options.
LOW has been the subject of a number of recent research reports. Analysts at Morgan Stanley initiated coverage on shares of Lowe's Companies in a research note on Tuesday, June 24th. They set an “equal weight” rating and a $50.00 price target on the stock. Separately, analysts at Canaccord Genuity downgraded shares of Lowe's Companies from a “hold” rating to a “sell” rating in a research note on Wednesday, May 28th. They now have a $37.00 price target on the stock, down previously from $47.00. They noted that the move was a valuation call. Finally, analysts at Deutsche Bank reiterated a “buy” rating on shares of Lowe's Companies in a research note on Thursday, May 22nd. They now have a $54.00 price target on the stock, down previously from $57.00. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $51.00.
Shares of Lowe's Companies (NYSE:LOW) traded up 2.12% on Tuesday, hitting $51.52. 9,289,309 shares of the company’s stock traded hands. Lowe's Companies has a one year low of $43.52 and a one year high of $52.08. The stock’s 50-day moving average is $48.25 and its 200-day moving average is $47.52. The company has a market cap of $51.382 billion and a price-to-earnings ratio of 22.32.
Lowe's Companies (NYSE:LOW) last posted its quarterly earnings results 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. On average, analysts predict that Lowe's Companies will post $2.61 earnings per share for the current fiscal year.
Lowe’s Companies, Inc (NYSE:LOW) is a home improvement retailer.
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