Lowe’s Companies (NYSE:LOW) Coverage Initiated by Analysts at Nomura

Equities research analysts at Nomura started coverage on shares of Lowe’s Companies (NYSE:LOW) in a research report issued on Friday, The Fly reports. The firm set a “buy” rating and a $132.00 price target on the home improvement retailer’s stock. Nomura’s price target would suggest a potential upside of 15.79% from the stock’s current price.

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Other research analysts have also recently issued reports about the company. Morgan Stanley boosted their target price on Lowe’s Companies from $123.00 to $130.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Telsey Advisory Group boosted their target price on Lowe’s Companies from $116.00 to $120.00 and gave the stock an “outperform” rating in a report on Thursday, August 22nd. Credit Suisse Group upgraded Lowe’s Companies from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $114.00 to $129.00 in a report on Wednesday. Oppenheimer boosted their target price on Lowe’s Companies from $135.00 to $145.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Finally, Wolfe Research cut Lowe’s Companies from an “outperform” rating to a “market perform” rating and set a $118.00 target price on the stock. in a report on Tuesday, October 8th. Six analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. Lowe’s Companies currently has a consensus rating of “Buy” and a consensus price target of $123.20.

NYSE:LOW traded up $1.40 during trading hours on Friday, hitting $114.00. 2,748,129 shares of the stock were exchanged, compared to its average volume of 4,548,905. Lowe’s Companies has a 52-week low of $84.75 and a 52-week high of $118.23. The firm’s fifty day moving average price is $110.71 and its 200 day moving average price is $105.70. The company has a current ratio of 1.06, a quick ratio of 0.19 and a debt-to-equity ratio of 7.80. The company has a market cap of $86.60 billion, a P/E ratio of 22.18, a P/E/G ratio of 1.47 and a beta of 1.29.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings data on Wednesday, August 21st. The home improvement retailer reported $2.15 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.00 by $0.15. Lowe’s Companies had a return on equity of 111.09% and a net margin of 3.52%. The company had revenue of $20.99 billion during the quarter, compared to analyst estimates of $20.96 billion. During the same period in the previous year, the business earned $2.07 EPS. Lowe’s Companies’s quarterly revenue was up .5% on a year-over-year basis. Equities analysts expect that Lowe’s Companies will post 5.67 EPS for the current fiscal year.

In other Lowe’s Companies news, CAO Matthew V. Hollifield sold 12,136 shares of the company’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $112.34, for a total transaction of $1,363,358.24. Following the transaction, the chief accounting officer now directly owns 28,017 shares in the company, valued at $3,147,429.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jennifer L. Weber sold 12,589 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $112.62, for a total value of $1,417,773.18. Following the transaction, the executive vice president now owns 17,440 shares in the company, valued at $1,964,092.80. The disclosure for this sale can be found here. Corporate insiders own 0.07% of the company’s stock.

Large investors have recently added to or reduced their stakes in the business. Atwater Malick LLC purchased a new stake in shares of Lowe’s Companies during the third quarter worth $26,000. Next Capital Management LLC purchased a new stake in shares of Lowe’s Companies during the second quarter worth $27,000. Knuff & Co LLC purchased a new stake in shares of Lowe’s Companies during the second quarter worth $29,000. Pearl River Capital LLC purchased a new stake in shares of Lowe’s Companies during the second quarter worth $29,000. Finally, Ossiam purchased a new stake in shares of Lowe’s Companies during the second quarter worth $31,000. Institutional investors own 76.35% 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, Canada, and Mexico. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It provides home improvement products in various categories, such as lumber and building materials, appliances, seasonal and outdoor living, tools and hardware, fashion fixtures, rough plumbing and electrical, paint, millwork, lawn and garden, flooring, and kitchens.

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