Gordon Haskett Issues Positive Forecast for Lowe’s Companies (NYSE:LOW) Stock Price

Lowe’s Companies (NYSE:LOW) had its price target hoisted by Gordon Haskett from $310.00 to $325.00 in a research note issued to investors on Wednesday,MarketScreener reports. Gordon Haskett currently has a buy rating on the home improvement retailer’s stock.

Several other analysts have also recently commented on LOW. The Goldman Sachs Group raised their target price on Lowe’s Companies from $280.00 to $283.00 and gave the company a “buy” rating in a research report on Friday. UBS Group lowered their price target on Lowe’s Companies from $325.00 to $316.00 and set a “buy” rating on the stock in a report on Thursday, November 20th. Citigroup upped their price objective on shares of Lowe’s Companies from $250.00 to $285.00 and gave the stock a “neutral” rating in a report on Thursday. Evercore raised their target price on shares of Lowe’s Companies from $250.00 to $280.00 in a research note on Tuesday, January 27th. Finally, Morgan Stanley upped their price target on shares of Lowe’s Companies from $270.00 to $296.00 and gave the stock an “overweight” rating in a research note on Thursday, January 15th. Twenty investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Lowe’s Companies currently has a consensus rating of “Moderate Buy” and a consensus target price of $286.30.

Lowe’s Companies Trading Up 0.6%

NYSE:LOW opened at $287.36 on Wednesday. Lowe’s Companies has a 52 week low of $206.38 and a 52 week high of $293.06. The stock has a 50 day moving average of $261.04 and a 200-day moving average of $251.58. The firm has a market capitalization of $161.19 billion, a PE ratio of 23.83, a price-to-earnings-growth ratio of 4.45 and a beta of 0.97.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings data on Wednesday, November 26th. The home improvement retailer reported $3.06 earnings per share for the quarter, beating the consensus estimate of $2.97 by $0.09. Lowe’s Companies had a net margin of 8.05% and a negative return on equity of 55.86%. The firm had revenue of $20.81 billion for the quarter, compared to the consensus estimate of $20.88 billion. During the same period last year, the firm posted $2.89 EPS. Lowe’s Companies’s quarterly revenue was up 3.2% compared to the same quarter last year. As a group, analysts predict that Lowe’s Companies will post 11.9 EPS for the current fiscal year.

Insider Activity

In related news, CEO Marvin R. Ellison sold 18,000 shares of the stock in a transaction that occurred on Friday, January 9th. The stock was sold at an average price of $261.17, for a total transaction of $4,701,060.00. Following the completion of the sale, the chief executive officer owned 231,043 shares in the company, valued at $60,341,500.31. This represents a 7.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.27% of the company’s stock.

Hedge Funds Weigh In On Lowe’s Companies

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Providence Wealth Advisors LLC grew its stake in Lowe’s Companies by 0.5% in the fourth quarter. Providence Wealth Advisors LLC now owns 7,969 shares of the home improvement retailer’s stock valued at $1,959,000 after acquiring an additional 36 shares during the period. Rather & Kittrell Inc. increased its stake in Lowe’s Companies by 0.4% during the 4th quarter. Rather & Kittrell Inc. now owns 10,379 shares of the home improvement retailer’s stock worth $2,503,000 after purchasing an additional 38 shares in the last quarter. First Command Advisory Services Inc. lifted its stake in Lowe’s Companies by 1.3% in the fourth quarter. First Command Advisory Services Inc. now owns 2,947 shares of the home improvement retailer’s stock valued at $711,000 after buying an additional 38 shares in the last quarter. Walkner Condon Financial Advisors LLC boosted its holdings in shares of Lowe’s Companies by 4.3% in the fourth quarter. Walkner Condon Financial Advisors LLC now owns 945 shares of the home improvement retailer’s stock valued at $228,000 after buying an additional 39 shares during the period. Finally, Smithbridge Asset Management Inc. DE increased its position in shares of Lowe’s Companies by 1.1% during the fourth quarter. Smithbridge Asset Management Inc. DE now owns 3,723 shares of the home improvement retailer’s stock worth $898,000 after acquiring an additional 39 shares in the last quarter. 74.06% of the stock is owned by institutional investors.

About Lowe’s Companies

Lowe’s Companies, Inc is a leading home improvement retailer that operates large-format stores and digital channels serving both do-it-yourself homeowners and professional contractors. The company offers a broad assortment of products including building materials, lumber, appliances, tools and hardware, plumbing and electrical supplies, paint, flooring, kitchen and bath fixtures, outdoor and garden products, and home decor. Lowe’s also provides a range of services such as installation, home improvement financing, tool and equipment rental, and contractor-focused sales programs.

Operations are centered on a nationwide brick-and-mortar store network supported by distribution centers and an e-commerce platform that enables online ordering, delivery and in-store pickup.