Lowe’s Companies, Inc. (NYSE:LOW) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Tuesday.
According to Zacks, “Lowe’s shares have slid and underperformed the industry in the past six months. In fact, the stock came under pressure after it posted lower-than-expected second-quarter fiscal 2017 results. This was the second quarter in row wherein both the top and bottom lines fell short of the estimate. Nevertheless, both sales and earnings grew year over year, albeit at a rate lower than the preceding quarter. However, comps showed considerable improvement. We believe Lowe’s buyout of Maintenance Supply Headquarters will help strengthen relationship with pro customers. Further, improving job scenario, housing market recovery, merchandising initiatives and post hurricane construction activities along with efforts to enhance omni-channel capabilities bode well. Management expects sales to increase 5% with comps growth of 3.5% during fiscal 2017 but took a conservative stance when it comes to earnings per share and operating margin guidance.”
A number of other equities research analysts have also recently weighed in on the stock. Bank of America Corporation started coverage on shares of Lowe’s Companies in a research note on Tuesday, September 5th. They set a “buy” rating and a $95.00 price objective on the stock. Stifel Nicolaus restated a “buy” rating and set a $87.00 price objective on shares of Lowe’s Companies in a research note on Friday, July 21st. Oppenheimer Holdings, Inc. set a $100.00 price objective on shares of Lowe’s Companies and gave the company a “buy” rating in a research note on Wednesday, August 23rd. Deutsche Bank AG restated a “buy” rating and set a $90.00 price objective (up from $85.00) on shares of Lowe’s Companies in a research note on Friday, October 6th. Finally, Royal Bank Of Canada restated a “buy” rating and set a $81.00 price objective on shares of Lowe’s Companies in a research note on Monday, September 25th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and fourteen have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $85.32.
Shares of Lowe’s Companies (NYSE LOW) traded up 0.6458% during trading on Tuesday, hitting $80.5166. 2,029,200 shares of the stock were exchanged. The stock has a 50-day moving average of $79.63 and a 200 day moving average of $79.32. The stock has a market cap of $67.06 billion, a P/E ratio of 22.8610 and a beta of 1.07. Lowe’s Companies has a 12-month low of $64.87 and a 12-month high of $86.25.
Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings results on Wednesday, August 23rd. The home improvement retailer reported $1.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.62 by ($0.05). Lowe’s Companies had a net margin of 4.51% and a return on equity of 62.02%. The firm had revenue of $19.50 billion for the quarter, compared to analyst estimates of $19.58 billion. During the same period last year, the firm posted $1.37 EPS. The business’s revenue was up 6.8% compared to the same quarter last year. Equities analysts predict that Lowe’s Companies will post $4.50 earnings per share for the current fiscal year.
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In related news, SVP Matthew V. Hollifield sold 7,853 shares of the business’s stock in a transaction that occurred on Friday, September 22nd. The stock was sold at an average price of $78.30, for a total value of $614,889.90. Following the completion of the sale, the senior vice president now owns 30,750 shares of the company’s stock, valued at approximately $2,407,725. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Paul D. Ramsay sold 2,098 shares of the business’s stock in a transaction that occurred on Tuesday, September 19th. The shares were sold at an average price of $78.02, for a total value of $163,685.96. Following the completion of the sale, the insider now directly owns 8,400 shares of the company’s stock, valued at approximately $655,368. The disclosure for this sale can be found here. Insiders own 0.11% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in Lowe’s Companies by 4.3% in the 1st quarter. Vanguard Group Inc. now owns 63,871,103 shares of the home improvement retailer’s stock worth $5,250,843,000 after purchasing an additional 2,650,045 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD lifted its holdings in Lowe’s Companies by 11.8% in the 2nd quarter. Sumitomo Mitsui Asset Management Company LTD now owns 105,471 shares of the home improvement retailer’s stock worth $8,177,000 after purchasing an additional 11,119 shares during the last quarter. Blue Edge Capital LLC acquired a new stake in Lowe’s Companies in the 1st quarter worth approximately $727,000. Dimensional Fund Advisors LP lifted its holdings in Lowe’s Companies by 2.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,425,597 shares of the home improvement retailer’s stock worth $199,407,000 after purchasing an additional 60,109 shares during the last quarter. Finally, KCG Holdings Inc. lifted its holdings in Lowe’s Companies by 170.7% in the 1st quarter. KCG Holdings Inc. now owns 69,485 shares of the home improvement retailer’s stock worth $5,712,000 after purchasing an additional 43,815 shares during the last quarter. Hedge funds and other institutional investors own 74.08% of the company’s stock.
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.
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