Lowe’s Companies (NYSE:LOW) Given “Outperform” Rating at Telsey Advisory Group

Lowe’s Companies (NYSE:LOW)‘s stock had its “outperform” rating reiterated by analysts at Telsey Advisory Group in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $305.00 target price on the home improvement retailer’s stock. Telsey Advisory Group’s price objective indicates a potential upside of 16.35% from the company’s previous close.

Several other research analysts have also recently issued reports on LOW. Sanford C. Bernstein began coverage on Lowe’s Companies in a research report on Tuesday, October 22nd. They issued an “outperform” rating and a $323.00 target price on the stock. UBS Group increased their price target on Lowe’s Companies from $270.00 to $290.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Melius Research began coverage on Lowe’s Companies in a research report on Monday, September 23rd. They issued a “buy” rating and a $290.00 price objective on the stock. Gordon Haskett decreased their target price on Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating on the stock in a research note on Wednesday, August 21st. Finally, Royal Bank of Canada cut their price objective on shares of Lowe’s Companies from $245.00 to $238.00 and set a “sector perform” rating for the company in a report on Wednesday, August 21st. Ten equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, Lowe’s Companies has an average rating of “Moderate Buy” and an average price target of $273.84.

Lowe’s Companies Price Performance

Lowe’s Companies stock traded down $9.63 during mid-day trading on Tuesday, reaching $262.14. The stock had a trading volume of 1,996,344 shares, compared to its average volume of 2,438,299. The company has a 50-day moving average price of $267.74 and a two-hundred day moving average price of $244.04. The company has a market capitalization of $148.71 billion, a price-to-earnings ratio of 21.63, a PEG ratio of 2.21 and a beta of 1.10. Lowe’s Companies has a one year low of $196.23 and a one year high of $287.01.

Lowe’s Companies (NYSE:LOW) last issued its earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share for the quarter, topping analysts’ consensus estimates of $3.96 by $0.14. Lowe’s Companies had a negative return on equity of 47.07% and a net margin of 8.25%. The business had revenue of $23.59 billion during the quarter, compared to analyst estimates of $23.93 billion. During the same quarter in the previous year, the firm earned $4.56 EPS. Lowe’s Companies’s revenue was down 5.5% on a year-over-year basis. On average, equities research analysts anticipate that Lowe’s Companies will post 11.93 earnings per share for the current fiscal year.

Insider Activity

In other Lowe’s Companies news, EVP Margrethe R. Vagell sold 5,730 shares of the company’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $271.45, for a total value of $1,555,408.50. Following the completion of the sale, the executive vice president now directly owns 13,214 shares in the company, valued at approximately $3,586,940.30. This represents a 30.25 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the firm’s 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 transaction, the chief accounting officer now owns 9,383 shares in the company, valued at approximately $2,334,678.06. This represents a 41.91 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.26% of the company’s stock.

Institutional Trading of Lowe’s Companies

A number of hedge funds have recently added to or reduced their stakes in the business. Bamco Inc. NY boosted its stake in shares of Lowe’s Companies by 10.3% during the first quarter. Bamco Inc. NY now owns 216,958 shares of the home improvement retailer’s stock valued at $55,266,000 after purchasing an additional 20,181 shares in the last quarter. Plato Investment Management Ltd lifted its holdings in Lowe’s Companies by 655.9% during the first quarter. Plato Investment Management Ltd now owns 6,304 shares of the home improvement retailer’s stock worth $1,606,000 after buying an additional 5,470 shares during the period. HM Payson & Co. boosted its position in Lowe’s Companies by 1.1% during the 3rd quarter. HM Payson & Co. now owns 215,651 shares of the home improvement retailer’s stock valued at $58,409,000 after acquiring an additional 2,322 shares in the last quarter. Daymark Wealth Partners LLC increased its holdings in shares of Lowe’s Companies by 12.7% in the 2nd quarter. Daymark Wealth Partners LLC now owns 25,569 shares of the home improvement retailer’s stock valued at $5,637,000 after acquiring an additional 2,889 shares during the period. Finally, AMF Tjanstepension AB raised its position in shares of Lowe’s Companies by 14.4% in the 3rd quarter. AMF Tjanstepension AB now owns 159,742 shares of the home improvement retailer’s stock worth $43,290,000 after acquiring an additional 20,123 shares in the last quarter. 74.06% of the stock is owned by hedge funds and other institutional investors.

About Lowe’s Companies

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.