Lowe’s Companies (NYSE:LOW) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

by · The Markets Daily

Lowe’s Companies (NYSE:LOW – Get Free Report) had its target price upped by analysts at Royal Bank of Canada from $290.00 to $291.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a “sector perform” rating on the home improvement retailer’s stock. Royal Bank of Canada’s price target would suggest a potential upside of 9.60% from the stock’s current price.

LOW has been the subject of a number of other research reports. TD Cowen increased their target price on shares of Lowe’s Companies from $270.00 to $290.00 and gave the stock a “hold” rating in a report on Monday, October 28th. JPMorgan Chase & Co. decreased their target price on shares of Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating for the company in a research report on Wednesday, August 21st. Barclays raised their price objective on shares of Lowe’s Companies from $229.00 to $245.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Melius Research started coverage on shares of Lowe’s Companies in a research report on Monday, September 23rd. They set a “buy” rating and a $290.00 price objective for the company. Finally, Evercore ISI increased their target price on Lowe’s Companies from $225.00 to $250.00 and gave the stock an “in-line” rating in a report on Wednesday, August 21st. Ten research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Lowe’s Companies presently has a consensus rating of “Moderate Buy” and a consensus price target of $277.92.

Read Our Latest Report on Lowe’s Companies

Lowe’s Companies Trading Up 0.9 %

Shares of LOW opened at $265.50 on Wednesday. The company has a market cap of $150.62 billion, a price-to-earnings ratio of 22.14, a PEG ratio of 2.15 and a beta of 1.10. Lowe’s Companies has a 1-year low of $196.23 and a 1-year high of $287.01. The company’s fifty day simple moving average is $268.56 and its 200 day simple moving average is $244.50.

Lowe’s Companies (NYSE:LOW – Get Free Report) last released its quarterly earnings data on Tuesday, August 20th. The home improvement retailer reported $4.10 EPS for the quarter, beating the consensus estimate of $3.96 by $0.14. Lowe’s Companies had a net margin of 8.19% and a negative return on equity of 47.55%. The firm had revenue of $23.59 billion for the quarter, compared to the consensus estimate of $23.93 billion. During the same period in the previous year, the company earned $4.56 earnings per share. The company’s quarterly revenue was down 5.5% on a year-over-year basis. As a group, research analysts forecast that Lowe’s Companies will post 11.82 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 sale, the chief accounting officer now directly owns 9,383 shares in the company, valued at approximately $2,334,678.06. This trade represents a 41.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Margrethe R. Vagell sold 5,730 shares of the stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $271.45, for a total transaction of $1,555,408.50. Following the sale, the executive vice president now directly owns 13,214 shares of the company’s stock, valued at $3,586,940.30. This represents a 30.25 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.26% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. FMR LLC lifted its stake in shares of Lowe’s Companies by 10.2% during the 3rd quarter. FMR LLC now owns 26,010,730 shares of the home improvement retailer’s stock worth $7,045,006,000 after buying an additional 2,399,897 shares during the last quarter. International Assets Investment Management LLC lifted its stake in shares of Lowe’s Companies by 1,889.7% during the 3rd quarter. International Assets Investment Management LLC now owns 2,134,969 shares of the home improvement retailer’s stock worth $578,256,000 after buying an additional 2,027,668 shares during the last quarter. Strategic Financial Concepts LLC lifted its stake in shares of Lowe’s Companies by 20,275.6% during the 2nd quarter. Strategic Financial Concepts LLC now owns 1,205,014 shares of the home improvement retailer’s stock worth $2,657,000 after buying an additional 1,199,100 shares during the last quarter. Applied Finance Capital Management LLC lifted its stake in shares of Lowe’s Companies by 387.7% during the 3rd quarter. Applied Finance Capital Management LLC now owns 811,374 shares of the home improvement retailer’s stock worth $219,761,000 after buying an additional 645,017 shares during the last quarter. Finally, 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. Institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Company Profile

(Get Free Report)

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.

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