Lowe’s Companies (NYSE:LOW) Coverage Initiated at Melius Research

Equities research analysts at Melius Research initiated coverage on shares of Lowe’s Companies (NYSE:LOW) in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage set a “buy” rating and a $290.00 price target on the home improvement retailer’s stock. Melius Research’s target price indicates a potential upside of 8.92% from the company’s previous close.

LOW has been the subject of several other research reports. UBS Group boosted their price objective on Lowe’s Companies from $270.00 to $290.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. StockNews.com raised Lowe’s Companies from a “hold” rating to a “buy” rating in a report on Wednesday, September 18th. Bank of America cut their price objective on Lowe’s Companies from $280.00 to $275.00 and set a “buy” rating for the company in a report on Wednesday, August 21st. Royal Bank of Canada cut their target price on Lowe’s Companies from $245.00 to $238.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 21st. Finally, Piper Sandler cut their target price on Lowe’s Companies from $264.00 to $262.00 and set an “overweight” rating for the company in a research note on Wednesday, August 21st. Eleven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $258.13.

Lowe’s Companies Stock Up 1.5 %

Shares of LOW opened at $266.26 on Monday. The business’s 50-day moving average price is $244.69 and its 200-day moving average price is $235.64. Lowe’s Companies has a twelve month low of $181.85 and a twelve month high of $268.09. The stock has a market cap of $151.72 billion, a PE ratio of 21.39, a P/E/G ratio of 2.03 and a beta of 1.10.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings data on Tuesday, August 20th. The home improvement retailer reported $4.10 EPS for the quarter, topping the consensus estimate of $3.96 by $0.14. Lowe’s Companies had a negative return on equity of 47.07% and a net margin of 8.25%. The company had revenue of $23.59 billion during the quarter, compared to analyst estimates of $23.93 billion. During the same quarter in the previous year, the firm earned $4.56 earnings per share. Lowe’s Companies’s revenue was down 5.5% on a year-over-year basis. Analysts expect that Lowe’s Companies will post 11.93 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $248.82, for a total value of $1,684,262.58. Following the completion of the sale, the chief accounting officer now owns 9,383 shares of the company’s stock, valued at $2,334,678.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.26% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Lowe’s Companies

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Voisard Asset Management Group Inc. purchased a new position in Lowe’s Companies during the fourth quarter valued at $28,000. Transcendent Capital Group LLC purchased a new position in shares of Lowe’s Companies in the 4th quarter worth about $31,000. Stephens Consulting LLC raised its position in shares of Lowe’s Companies by 93.3% in the 2nd quarter. Stephens Consulting LLC now owns 145 shares of the home improvement retailer’s stock worth $32,000 after purchasing an additional 70 shares during the last quarter. Keener Financial Planning LLC purchased a new position in shares of Lowe’s Companies in the 1st quarter worth about $35,000. Finally, Kimelman & Baird LLC purchased a new position in shares of Lowe’s Companies in the 2nd quarter worth about $37,000. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Company Profile

Lowe's Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It also provides home improvement products, such as appliances, seasonal and outdoor living, lawn and garden, lumber, kitchens and bath, tools, paint, millwork, hardware, flooring, rough plumbing, building materials, décor, and electrical.