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Lowe's Companies (NYSE:LOW) hit a new 52-week high during trading on Thursday following a stronger than expected earnings report, American Banking News reports. The company traded as high as $53.04 and last traded at $52.93, with a volume of 3,903,127 shares. The stock had previously closed at $52.33.

The company reported $1.04 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.02 by $0.02. The company had revenue of $16.60 billion for the quarter, compared to the consensus estimate of $16.57 billion. During the same quarter last year, the company posted $0.88 earnings per share. Lowe's Companies’s revenue was up 5.7% compared to the same quarter last year.

Several analysts have recently commented on the stock. Analysts at Deutsche Bank reiterated a “buy” rating on shares of Lowe's Companies in a research note on Thursday. They now have a $58.00 price target on the stock, up previously from $54.00. Separately, analysts at Bank of America raised their price target on shares of Lowe's Companies to $61.00 in a research note on Thursday. Finally, analysts at Jefferies Group raised their price target on shares of Lowe's Companies from $47.00 to $51.00 in a research note on Thursday. They now have a “hold” rating on the stock. One analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $52.53.

The stock’s 50-day moving average is $48.47 and its 200-day moving average is $47.60. The company has a market cap of $52.788 billion and a price-to-earnings ratio of 23.15. Lowe's Companies also saw some unusual options trading activity on Monday. Traders purchased 11,401 call options on the stock. This is an increase of approximately 256% compared to the typical daily volume of 3,202 call options.

Lowe’s Companies, Inc (NYSE:LOW) is a home improvement retailer.

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