Evercore ISI Boosts Lowe’s Companies (NYSE:LOW) Price Target to $270.00

Lowe’s Companies (NYSE:LOW) had its price target raised by investment analysts at Evercore ISI from $255.00 to $270.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has an “in-line” rating on the home improvement retailer’s stock. Evercore ISI’s price objective would indicate a potential upside of 3.06% from the stock’s previous close.

Several other analysts have also weighed in on the company. StockNews.com upgraded Lowe’s Companies from a “hold” rating to a “buy” rating in a report on Wednesday, September 18th. JPMorgan Chase & Co. reduced their target price on shares of Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 21st. Morgan Stanley lifted their price target on shares of Lowe’s Companies from $250.00 to $255.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Gordon Haskett cut their price target on shares of Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating on the stock in a report on Wednesday, August 21st. Finally, Stifel Nicolaus raised their price objective on shares of Lowe’s Companies from $250.00 to $260.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. Ten investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, Lowe’s Companies has a consensus rating of “Moderate Buy” and an average target price of $277.92.

Lowe’s Companies Price Performance

Shares of NYSE LOW traded up $2.73 during mid-day trading on Wednesday, hitting $261.99. 1,121,847 shares of the company’s stock traded hands, compared to its average volume of 2,442,700. Lowe’s Companies has a 1 year low of $196.23 and a 1 year high of $287.01. The company’s 50-day moving average is $267.97 and its two-hundred day moving average is $244.23. The company has a market capitalization of $148.62 billion, a P/E ratio of 21.72, a PEG ratio of 2.21 and a beta of 1.10.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings data on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.96 by $0.14. The business had revenue of $23.59 billion for the quarter, compared to the consensus estimate of $23.93 billion. Lowe’s Companies had a negative return on equity of 47.07% and a net margin of 8.25%. The company’s quarterly revenue was down 5.5% compared to the same quarter last year. During the same period in the prior year, the business posted $4.56 earnings per share. Equities analysts anticipate that Lowe’s Companies will post 11.93 EPS for the current fiscal year.

Insider Buying and Selling at Lowe’s Companies

In other Lowe’s Companies news, EVP Margrethe R. Vagell sold 5,730 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were 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 $3,586,940.30. This trade represents a 30.25 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of Lowe’s Companies stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $248.82, for a total transaction of $1,684,262.58. Following the completion of the transaction, the chief accounting officer now directly owns 9,383 shares in the company, valued at $2,334,678.06. This represents a 41.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.26% of the stock is owned by insiders.

Institutional Investors Weigh In On Lowe’s Companies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Legacy Investment Solutions LLC acquired a new position in shares of Lowe’s Companies during the third quarter valued at about $27,000. Stephens Consulting LLC boosted its stake in Lowe’s Companies by 93.3% in the 2nd quarter. Stephens Consulting LLC now owns 145 shares of the home improvement retailer’s stock worth $32,000 after purchasing an additional 70 shares in the last quarter. JNBA Financial Advisors grew its position in Lowe’s Companies by 555.6% during the 3rd quarter. JNBA Financial Advisors now owns 118 shares of the home improvement retailer’s stock worth $32,000 after purchasing an additional 100 shares during the last quarter. MFA Wealth Advisors LLC increased its stake in Lowe’s Companies by 118.6% during the 3rd quarter. MFA Wealth Advisors LLC now owns 129 shares of the home improvement retailer’s stock valued at $35,000 after purchasing an additional 70 shares in the last quarter. Finally, Kimelman & Baird LLC purchased a new position in shares of Lowe’s Companies in the second quarter worth $37,000. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Lowe’s Companies Company Profile

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.