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

Lowe’s Companies (NYSE:LOW) had its target price hoisted by equities research analysts at Gordon Haskett from $310.00 to $325.00 in a report released on Wednesday,MarketScreener reports. The firm presently has a “buy” rating on the home improvement retailer’s stock. Gordon Haskett’s target price would indicate a potential upside of 13.10% from the stock’s previous close.

Several other equities analysts also recently issued reports on the stock. Argus decreased their price objective on shares of Lowe’s Companies from $290.00 to $286.00 and set a “buy” rating on the stock in a report on Tuesday, December 2nd. Wolfe Research reduced their price target on shares of Lowe’s Companies from $285.00 to $284.00 and set an “outperform” rating for the company in a research report on Wednesday, February 4th. Barclays raised shares of Lowe’s Companies from an “equal weight” rating to an “overweight” rating and set a $285.00 price target on the stock in a research note on Wednesday, January 7th. Robert W. Baird cut their price objective on Lowe’s Companies from $295.00 to $290.00 and set an “outperform” rating for the company in a research note on Thursday, November 20th. Finally, Telsey Advisory Group reduced their target price on Lowe’s Companies from $305.00 to $285.00 and set an “outperform” rating for the company in a report on Thursday, November 20th. Twenty investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Lowe’s Companies presently has an average rating of “Moderate Buy” and an average target price of $286.30.

Lowe’s Companies Trading Up 0.6%

Shares of Lowe’s Companies stock opened at $287.36 on Wednesday. The firm’s 50 day simple moving average is $261.04 and its two-hundred day simple moving average is $251.58. The firm has a market capitalization of $161.19 billion, a price-to-earnings ratio of 23.83, a PEG ratio of 4.45 and a beta of 0.97. Lowe’s Companies has a 12-month low of $206.38 and a 12-month high of $293.06.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings results 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. The business had revenue of $20.81 billion for the quarter, compared to the consensus estimate of $20.88 billion. Lowe’s Companies had a negative return on equity of 55.86% and a net margin of 8.05%.The company’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.89 EPS. On average, sell-side analysts predict that Lowe’s Companies will post 11.9 EPS for the current fiscal year.

Insider Activity

In other news, CEO Marvin R. Ellison sold 18,000 shares of the firm’s stock in a transaction that occurred on Friday, January 9th. The shares were 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 trade represents a 7.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.27% of the company’s stock.

Institutional Investors Weigh In On Lowe’s Companies

A number of institutional investors and hedge funds have recently made changes to their positions in LOW. Swiss RE Ltd. acquired a new position in Lowe’s Companies during the 4th quarter worth $25,000. Howard Hughes Medical Institute purchased a new position in shares of Lowe’s Companies in the 2nd quarter valued at about $27,000. Wilkerson Advisory Group LLC acquired a new position in shares of Lowe’s Companies during the fourth quarter worth about $27,000. Solstein Capital LLC increased its stake in shares of Lowe’s Companies by 627.8% during the second quarter. Solstein Capital LLC now owns 131 shares of the home improvement retailer’s stock worth $29,000 after buying an additional 113 shares during the period. Finally, Activest Wealth Management increased its stake in shares of Lowe’s Companies by 78.5% during the third quarter. Activest Wealth Management now owns 116 shares of the home improvement retailer’s stock worth $29,000 after buying an additional 51 shares during the period. 74.06% of the stock is owned by hedge funds and other 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.