The Goldman Sachs Group Issues Positive Forecast for Lowe’s Companies (NYSE:LOW) Stock Price

Lowe’s Companies (NYSE:LOW) had its price objective increased by The Goldman Sachs Group from $280.00 to $283.00 in a report issued on Friday morning,MarketScreener reports. The brokerage currently has a buy rating on the home improvement retailer’s stock.

Several other analysts have also recently issued reports on LOW. Citigroup increased their price target on shares of Lowe’s Companies from $250.00 to $285.00 and gave the stock a “neutral” rating in a research report on Thursday. Robert W. Baird decreased their price target on shares of Lowe’s Companies from $295.00 to $290.00 and set an “outperform” rating for the company in a research report on Thursday, November 20th. Stifel Nicolaus upped their price objective on Lowe’s Companies from $230.00 to $250.00 and gave the stock a “hold” rating in a research report on Monday, December 1st. Jefferies Financial Group increased their price objective on Lowe’s Companies from $280.00 to $285.00 and gave the company a “buy” rating in a research note on Friday, December 19th. Finally, Argus lowered their price objective on Lowe’s Companies from $290.00 to $286.00 and set a “buy” rating for the company in a research report on Tuesday, December 2nd. Twenty equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $286.30.

Lowe’s Companies Stock Performance

NYSE:LOW opened at $287.36 on Friday. Lowe’s Companies has a fifty-two week low of $206.38 and a fifty-two week high of $293.06. The company has a 50 day moving average price of $261.04 and a 200 day moving average price of $251.58. The stock has a market capitalization of $161.19 billion, a P/E ratio of 23.83, a PEG 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 analysts’ consensus estimates of $2.97 by $0.09. Lowe’s Companies had a negative return on equity of 55.86% and a net margin of 8.05%.The business had revenue of $20.81 billion during the quarter, compared to analysts’ expectations of $20.88 billion. During the same period in the previous year, the firm posted $2.89 earnings per share. The company’s revenue was up 3.2% on a year-over-year basis. Research analysts forecast that Lowe’s Companies will post 11.9 earnings per share for the current fiscal year.

Insider Activity at Lowe’s Companies

In related news, CEO Marvin R. Ellison sold 18,000 shares of Lowe’s Companies stock in a transaction 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 transaction, the chief executive officer owned 231,043 shares in the company, valued at approximately $60,341,500.31. The trade was a 7.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.27% of the company’s stock.

Institutional Investors Weigh In On Lowe’s Companies

Several institutional investors and hedge funds have recently modified their holdings of LOW. Foresight Global Investors Inc. boosted its holdings in Lowe’s Companies by 3.9% in the 4th quarter. Foresight Global Investors Inc. now owns 1,192 shares of the home improvement retailer’s stock worth $287,000 after acquiring an additional 45 shares during the period. CreativeOne Wealth LLC lifted its stake in Lowe’s Companies by 6.2% during the fourth quarter. CreativeOne Wealth LLC now owns 2,612 shares of the home improvement retailer’s stock valued at $630,000 after purchasing an additional 153 shares during the last quarter. Burton Enright Welch acquired a new stake in shares of Lowe’s Companies during the fourth quarter worth $201,000. Maverick Capital Ltd. lifted its position in shares of Lowe’s Companies by 124.0% in the 4th quarter. Maverick Capital Ltd. now owns 8,316 shares of the home improvement retailer’s stock valued at $2,005,000 after acquiring an additional 4,603 shares in the last quarter. Finally, Marshall Wace LLP boosted its position in shares of Lowe’s Companies by 15,991.8% in the fourth quarter. Marshall Wace LLP now owns 157,700 shares of the home improvement retailer’s stock worth $38,031,000 after buying an additional 156,720 shares during the period. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Company Profile

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.