Oppenheimer Reaffirms “Outperform” Rating for Lowe's Companies (LOW)
Lowe's Companies (NYSE:LOW)‘s stock had its “outperform” rating restated by research analysts at Oppenheimer in a report released on Friday. They currently have a $60.00 price target on the stock, up from their previous price target of $57.00. Oppenheimer’s price objective would indicate a potential upside of 11.92% from the company’s current price.
In other Lowe's Companies news, Insider Maureen K. Ausura sold 15,979 shares of Lowe's Companies stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $52.48, for a total transaction of $838,577.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Lowe's Companies (NYSE:LOW) traded down 0.15% during mid-day trading on Friday, hitting $53.53. The stock had a trading volume of 623,882 shares. Lowe's Companies has a one year low of $44.13 and a one year high of $53.70. The stock’s 50-day moving average is $49.89 and its 200-day moving average is $48.07. The company has a market cap of $52.840 billion and a P/E ratio of 22.38. Lowe's Companies also saw some unusual options trading activity on Wednesday. Stock traders purchased 12,810 put options on the company. This represents an increase of 357% compared to the typical volume of 2,803 put options.
Lowe's Companies (NYSE:LOW) last issued its quarterly earnings data 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 $2.63 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, November 5th. Shareholders of record on Wednesday, October 22nd will be paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.72%. The ex-dividend date is Monday, October 20th.
A number of other firms have also recently commented on LOW. Analysts at Argus raised their price target on shares of Lowe's Companies from $58.00 to $60.00 in a research note on Friday, August 22nd. They now have a “buy” rating on the stock. Separately, analysts at Deutsche Bank reiterated a “buy” rating on shares of Lowe's Companies in a research note on Thursday, August 21st. They now have a $58.00 price target on the stock, up previously from $54.00. Finally, analysts at Bank of America raised their price target on shares of Lowe's Companies to $61.00 in a research note on Thursday, August 21st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Lowe's Companies currently has a consensus rating of “Buy” and an average target price of $54.00.
Lowe’s Companies, Inc (NYSE:LOW) is a home improvement retailer.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.