Lowe’s Companies (NYSE:LOW) Receives New Coverage from Analysts at Goldman Sachs Group

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Goldman Sachs Group started coverage on shares of Lowe’s Companies (NYSE:LOW) in a report published on Thursday morning, BenzingaRatingsTable reports. The firm issued a buy rating and a $119.00 price objective on the home improvement retailer’s stock.

LOW has been the topic of a number of other research reports. Barclays reissued an overweight rating and issued a GBX 310 ($4.05) price target on shares of in a research note on Monday, June 24th. Telsey Advisory Group restated a market perform rating and set a $28.00 target price on shares of L Brands in a research note on Thursday, May 23rd. SunTrust Banks upped their price target on Copart to $78.00 and gave the company a buy rating in a report on Friday, May 24th. Cfra reissued a hold rating and issued a $105.00 price objective on shares of Lowe’s Companies in a report on Friday, June 14th. Finally, Morgan Stanley set a $123.00 price target on Lowe’s Companies and gave the stock a buy rating in a report on Thursday, May 23rd. Nine equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. The stock has a consensus rating of Buy and a consensus price target of $112.88.

Shares of NYSE:LOW opened at $107.40 on Thursday. The company has a market capitalization of $84.09 billion, a price-to-earnings ratio of 20.89, a price-to-earnings-growth ratio of 1.36 and a beta of 1.36. The stock’s fifty day moving average is $98.98. The company has a current ratio of 1.09, a quick ratio of 0.24 and a debt-to-equity ratio of 6.37. Lowe’s Companies has a fifty-two week low of $84.75 and a fifty-two week high of $118.23.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings results on Wednesday, May 22nd. The home improvement retailer reported $1.22 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.33 by ($0.11). The company had revenue of $17.74 billion during the quarter, compared to analysts’ expectations of $17.65 billion. Lowe’s Companies had a return on equity of 91.85% and a net margin of 3.31%. The company’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period in the prior year, the business earned $1.19 EPS. Equities research analysts anticipate that Lowe’s Companies will post 5.59 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 7th. Investors of record on Wednesday, July 24th will be paid a $0.55 dividend. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.48. The ex-dividend date is Tuesday, July 23rd. This represents a $2.20 annualized dividend and a dividend yield of 2.05%. Lowe’s Companies’s payout ratio is currently 37.35%.

In related news, insider Marvin R. Ellison bought 10,000 shares of Lowe’s Companies stock in a transaction dated Friday, May 24th. The stock was purchased at an average cost of $95.05 per share, with a total value of $950,500.00. Following the transaction, the insider now directly owns 80,090 shares of the company’s stock, valued at $7,612,554.50. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Donald Frieson acquired 2,030 shares of the business’s stock in a transaction that occurred on Wednesday, June 19th. The stock was acquired at an average cost of $98.69 per share, with a total value of $200,340.70. Following the completion of the acquisition, the executive vice president now owns 10,980 shares in the company, valued at approximately $1,083,616.20. The disclosure for this purchase can be found here. Insiders have acquired 12,280 shares of company stock worth $1,174,566 in the last ninety days. Insiders own 0.07% of the company’s stock.

A number of large investors have recently modified their holdings of LOW. Lunia Capital LP increased its position in shares of Lowe’s Companies by 18,944.2% in the fourth quarter. Lunia Capital LP now owns 15,741,007 shares of the home improvement retailer’s stock valued at $15,741,000 after acquiring an additional 15,658,352 shares during the period. Norges Bank purchased a new position in shares of Lowe’s Companies during the fourth quarter valued at approximately $734,285,000. FMR LLC raised its holdings in shares of Lowe’s Companies by 9.2% during the fourth quarter. FMR LLC now owns 23,893,923 shares of the home improvement retailer’s stock valued at $2,206,843,000 after purchasing an additional 2,014,183 shares during the last quarter. Boston Partners increased its holdings in Lowe’s Companies by 20.3% during the first quarter. Boston Partners now owns 4,900,149 shares of the home improvement retailer’s stock valued at $536,420,000 after buying an additional 826,414 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in Lowe’s Companies by 7.6% during the fourth quarter. Geode Capital Management LLC now owns 10,336,009 shares of the home improvement retailer’s stock valued at $952,946,000 after buying an additional 728,740 shares during the last quarter. Institutional investors own 76.76% of the company’s stock.

About Lowe’s Companies

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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Analyst Recommendations for Lowe`s Companies (NYSE:LOW)

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