Lowe's Companies Price Target Raised to $60.00 at Argus (LOW)
Equities researchers at Argus lifted their price target on shares of Lowe's Companies (NYSE:LOW) from $58.00 to $60.00 in a research report issued on Friday. The firm currently has a “buy” rating on the stock. Argus’ target price indicates a potential upside of 13.92% from the company’s current price.
A number of other analysts have also recently weighed in on LOW. 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 investment analyst has rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $52.93.
Lowe's Companies (NYSE:LOW) opened at 52.67 on Friday. Lowe's Companies has a 52-week low of $44.13 and a 52-week high of $53.04. The stock has a 50-day moving average of $48.60 and a 200-day moving average of $47.64. The company has a market cap of $52.529 billion and a P/E ratio of 23.31. Lowe's Companies also was the recipient of some unusual options trading activity on Tuesday. Traders purchased 11,081 put options on the stock. This represents an increase of approximately 540% compared to the typical daily volume of 1,731 put options.
Lowe's Companies (NYSE:LOW) last posted its quarterly earnings results on Wednesday, August 20th. The company reported $1.04 EPS for the quarter, beating the Thomson Reuters 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 in the prior year, the company posted $0.88 earnings per share. The company’s quarterly revenue was up 5.7% on a year-over-year basis. On average, analysts predict that Lowe's Companies will post $2.62 earnings per share for the current fiscal year.
Lowe’s Companies, Inc (NYSE:LOW) is a home improvement retailer.
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