Lowe’s Companies’ (LOW) Hold Rating Reiterated at Jefferies Group LLC
Lowe’s Companies, Inc. (NYSE:LOW)‘s stock had its “hold” rating restated by research analysts at Jefferies Group LLC in a report released on Friday. They presently have a $89.00 target price on the home improvement retailer’s stock. Jefferies Group LLC’s price target would indicate a potential upside of 22.66% from the stock’s current price.
LOW has been the topic of a number of other reports. Zacks Investment Research downgraded Lowe’s Companies from a “buy” rating to a “hold” rating in a research report on Wednesday, May 3rd. Vetr upgraded Lowe’s Companies from a “strong sell” rating to a “hold” rating and set a $83.11 price objective on the stock in a research report on Monday, April 24th. Sanford C. Bernstein restated an “underperform” rating and set a $69.00 price objective on shares of Lowe’s Companies in a research report on Wednesday, July 12th. Credit Suisse Group set a $94.00 price objective on Lowe’s Companies and gave the company a “buy” rating in a research report on Tuesday, May 2nd. Finally, BMO Capital Markets reiterated a “buy” rating and issued a $89.00 price target on shares of Lowe’s Companies in a report on Friday, May 5th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $85.39.
Lowe’s Companies (NYSE:LOW) opened at 72.56 on Friday. The company has a market capitalization of $61.26 billion, a price-to-earnings ratio of 22.75 and a beta of 1.08. Lowe’s Companies has a 52-week low of $64.87 and a 52-week high of $86.25. The company’s 50-day moving average price is $77.85 and its 200 day moving average price is $78.90.
Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings data on Wednesday, May 24th. The home improvement retailer reported $1.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.06 by $0.03. Lowe’s Companies had a net margin of 4.22% and a return on equity of 56.78%. The company had revenue of $16.86 billion for the quarter, compared to analysts’ expectations of $16.99 billion. During the same quarter last year, the company earned $0.87 earnings per share. The company’s revenue for the quarter was up 10.7% on a year-over-year basis. On average, equities analysts expect that Lowe’s Companies will post $4.62 EPS for the current fiscal year.
In other news, insider Richard D. Maltsbarger sold 11,672 shares of the firm’s stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $80.20, for a total value of $936,094.40. Following the completion of the sale, the insider now owns 37,716 shares of the company’s stock, valued at approximately $3,024,823.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.11% of the stock is currently owned by company insiders.
Several hedge funds have recently bought and sold shares of the company. SRS Capital Advisors Inc. boosted its stake in Lowe’s Companies by 0.4% in the first quarter. SRS Capital Advisors Inc. now owns 1,236 shares of the home improvement retailer’s stock worth $101,000 after buying an additional 5 shares during the last quarter. Washington Trust Bank boosted its stake in Lowe’s Companies by 27.4% in the first quarter. Washington Trust Bank now owns 1,238 shares of the home improvement retailer’s stock worth $102,000 after buying an additional 266 shares during the last quarter. Harbour Capital Advisors LLC acquired a new stake in Lowe’s Companies during the first quarter worth $103,000. State of Alaska Department of Revenue acquired a new stake in Lowe’s Companies during the first quarter worth $109,000. Finally, Hanson McClain Inc. boosted its stake in Lowe’s Companies by 3.5% in the first quarter. Hanson McClain Inc. now owns 1,337 shares of the home improvement retailer’s stock worth $110,000 after buying an additional 45 shares during the last quarter. 74.54% of the stock is owned by hedge funds and other institutional investors.
Lowe’s Companies Company Profile
Lowe’s Companies, Inc (Lowe’s) is a home improvement retailer. The Company operates approximately 1,860 home improvement and hardware stores, representing approximately 200 million square feet of retail selling space. The Company operates approximately 1,800 stores located across over 50 states in the United States, including approximately 80 Orchard Supply Hardware (Orchard) stores in California and Oregon, as well as approximately 40 stores in Canada and over 10 stores in Mexico.
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