Lowe’s Companies (NYSE:LOW) Upgraded to Buy by StockNews.com

Lowe’s Companies (NYSE:LOW) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday.

Several other equities analysts have also issued reports on the stock. Telsey Advisory Group reissued a “market perform” rating and issued a $230.00 price target on shares of Lowe’s Companies in a report on Tuesday, August 20th. Truist Financial boosted their target price on Lowe’s Companies from $265.00 to $269.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Wedbush reaffirmed a “neutral” rating and set a $250.00 price target on shares of Lowe’s Companies in a research report on Wednesday, August 21st. UBS Group lifted their price objective on Lowe’s Companies from $270.00 to $290.00 and gave the company a “buy” rating in a report on Wednesday, August 21st. Finally, Morgan Stanley increased their target price on Lowe’s Companies from $250.00 to $255.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Thirteen research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $253.33.

Lowe’s Companies Trading Up 1.7 %

NYSE:LOW opened at $261.01 on Wednesday. Lowe’s Companies has a 1-year low of $181.85 and a 1-year high of $262.49. The firm has a market capitalization of $148.73 billion, a price-to-earnings ratio of 20.96, a PEG ratio of 2.03 and a beta of 1.10. The business’s 50-day moving average price is $243.06 and its two-hundred day moving average price is $235.27.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share for the quarter, beating analysts’ consensus estimates of $3.96 by $0.14. The business had revenue of $23.59 billion for the quarter, compared to the consensus estimate of $23.93 billion. Lowe’s Companies had a net margin of 8.25% and a negative return on equity of 47.07%. Lowe’s Companies’s revenue for the quarter was down 5.5% on a year-over-year basis. During the same period last year, the company posted $4.56 EPS. Sell-side analysts predict that Lowe’s Companies will post 11.93 earnings per share for the current year.

Insiders Place Their Bets

In other Lowe’s Companies news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the stock in a transaction on Thursday, September 12th. The shares were 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 in the company, valued at $2,334,678.06. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.26% of the company’s stock.

Institutional Trading of Lowe’s Companies

Institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in Lowe’s Companies by 5.2% in the 1st quarter. Vanguard Group Inc. now owns 53,693,630 shares of the home improvement retailer’s stock valued at $13,677,378,000 after acquiring an additional 2,674,372 shares during the period. Legal & General Group Plc increased its holdings in shares of Lowe’s Companies by 1.6% in the second quarter. Legal & General Group Plc now owns 5,205,491 shares of the home improvement retailer’s stock valued at $1,147,603,000 after purchasing an additional 82,978 shares during the last quarter. Schroder Investment Management Group raised its position in shares of Lowe’s Companies by 1.9% in the fourth quarter. Schroder Investment Management Group now owns 2,851,127 shares of the home improvement retailer’s stock valued at $634,518,000 after purchasing an additional 52,859 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of Lowe’s Companies by 36.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,840,704 shares of the home improvement retailer’s stock worth $468,884,000 after buying an additional 493,180 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its holdings in shares of Lowe’s Companies by 6.0% during the 2nd quarter. Envestnet Asset Management Inc. now owns 1,617,849 shares of the home improvement retailer’s stock worth $356,671,000 after buying an additional 90,945 shares during the period. 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.