Lowe's Companies (NYSE:LOW) was upgraded by equities research analysts at Jefferies Group from a “hold” rating to a “buy” rating in a research report issued on Monday, Marketbeat Ratings reports. The firm presently has a $129.00 price objective on the home improvement retailer’s stock, up from their previous price objective of $81.00. Jefferies Group’s price target suggests a potential upside of 32.20% from the stock’s previous close.
LOW has been the subject of a number of other reports. Atlantic Securities downgraded Lowe's Companies from an “overweight” rating to a “neutral” rating and set a $92.00 target price for the company. in a research report on Tuesday, November 28th. Credit Suisse Group set a $116.00 price target on Lowe's Companies and gave the stock a “buy” rating in a research report on Tuesday, January 16th. Piper Jaffray Companies restated a “hold” rating and issued a $82.00 price target on shares of Lowe's Companies in a research report on Friday, November 24th. Stifel Nicolaus restated a “buy” rating and issued a $103.00 price target on shares of Lowe's Companies in a research report on Friday, December 22nd. Finally, Barclays upgraded Lowe's Companies from an “equal weight” rating to an “overweight” rating in a research report on Friday, January 5th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-three have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $96.35.
Lowe's Companies (LOW) traded down $3.92 during midday trading on Monday, hitting $97.58. The stock had a trading volume of 8,340,000 shares, compared to its average volume of 5,600,000. The company has a quick ratio of 0.12, a current ratio of 1.02 and a debt-to-equity ratio of 2.71. The company has a market cap of $80,970.00, a P/E ratio of 23.46, a P/E/G ratio of 1.10 and a beta of 1.19. Lowe's Companies has a 52-week low of $70.76 and a 52-week high of $108.98.
Lowe's Companies announced that its board has authorized a stock repurchase program on Friday, January 26th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the home improvement retailer to purchase shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its shares are undervalued.
In other news, insider Nelson B. Peace sold 3,352 shares of Lowe's Companies stock in a transaction on Monday, November 27th. The stock was sold at an average price of $80.20, for a total transaction of $268,830.40. Following the completion of the sale, the insider now directly owns 4,650 shares in the company, valued at $372,930. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.11% of the stock is currently owned by company insiders.
Several large investors have recently added to or reduced their stakes in the company. Progressive Investment Management Corp increased its stake in shares of Lowe's Companies by 0.3% during the second quarter. Progressive Investment Management Corp now owns 27,018 shares of the home improvement retailer’s stock valued at $2,095,000 after buying an additional 82 shares during the period. Krilogy Financial LLC increased its stake in shares of Lowe's Companies by 2.4% during the second quarter. Krilogy Financial LLC now owns 3,825 shares of the home improvement retailer’s stock valued at $297,000 after buying an additional 91 shares during the period. IHT Wealth Management LLC increased its stake in shares of Lowe's Companies by 8.7% during the second quarter. IHT Wealth Management LLC now owns 1,368 shares of the home improvement retailer’s stock valued at $154,000 after buying an additional 110 shares during the period. First Business Financial Services Inc. increased its stake in shares of Lowe's Companies by 1.8% during the second quarter. First Business Financial Services Inc. now owns 6,688 shares of the home improvement retailer’s stock valued at $519,000 after buying an additional 120 shares during the period. Finally, Keel Point LLC increased its stake in shares of Lowe's Companies by 1.6% during the second quarter. Keel Point LLC now owns 8,263 shares of the home improvement retailer’s stock valued at $641,000 after buying an additional 132 shares during the period. Institutional investors and hedge funds own 72.54% of the company’s stock.
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Lowe's Companies Company Profile
Lowe’s Companies, Inc (Lowe’s) is a home improvement company. The Company operates approximately 2,370 home improvement and hardware stores. The Company offers a range of products for maintenance, repair, remodeling and decorating. The Company offers home improvement products in categories, including Lumber and Building Materials; Tools and Hardware; Appliances; Fashion Fixtures; Rough Plumbing and Electrical; Lawn and Garden; Seasonal and Outdoor Living; Paint; Flooring; Millwork, and Kitchens.
