Lowe’s (NYSE:LOW) has been given a $111.00 target price by equities research analysts at Credit Suisse Group in a research report issued to clients and investors on Wednesday. The firm currently has a “buy” rating on the home improvement retailer’s stock. Credit Suisse Group’s target price would suggest a potential upside of 15.04% from the company’s current price.
Several other brokerages have also recently weighed in on LOW. BMO Capital Markets restated a “hold” rating and set a $95.00 target price (up from $82.00) on shares of Lowe’s in a report on Thursday, March 1st. Loop Capital started coverage on Lowe’s in a report on Thursday, March 1st. They set a “hold” rating and a $88.00 target price for the company. Telsey Advisory Group upgraded Lowe’s from a “market perform” rating to an “outperform” rating and increased their target price for the company from $83.00 to $124.00 in a report on Thursday, January 25th. Zacks Investment Research cut Lowe’s from a “hold” rating to a “sell” rating in a report on Tuesday, May 1st. Finally, Wells Fargo & Co started coverage on Lowe’s in a report on Monday, April 23rd. They set an “outperform” rating and a $100.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and twenty-six have given a buy rating to the company’s stock. Lowe’s presently has a consensus rating of “Buy” and a consensus price target of $100.10.
Get Lowe's alerts:Shares of LOW stock opened at $96.49 on Wednesday. The stock has a market cap of $71.17 billion, a P/E ratio of 21.98, a P/E/G ratio of 0.90 and a beta of 1.33. Lowe’s has a 1-year low of $70.76 and a 1-year high of $108.98. The company has a debt-to-equity ratio of 2.65, a current ratio of 1.06 and a quick ratio of 0.11.
Lowe’s (NYSE:LOW) last issued its earnings results on Wednesday, May 23rd. The home improvement retailer reported $1.19 earnings per share for the quarter, missing the consensus estimate of $1.22 by ($0.03). The company had revenue of $17.36 billion for the quarter, compared to analysts’ expectations of $17.44 billion. Lowe’s had a net margin of 5.02% and a return on equity of 65.17%. The company’s revenue was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.03 earnings per share. equities research analysts expect that Lowe’s will post 5.46 EPS for the current fiscal year.
Lowe’s announced that its board has authorized a stock repurchase program on Friday, January 26th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the home improvement retailer to reacquire shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LOW. Almanack Investment Partners LLC. bought a new position in shares of Lowe’s in the 4th quarter worth approximately $106,000. ClariVest Asset Management LLC bought a new position in shares of Lowe’s in the 1st quarter worth approximately $118,000. Rainier Group Investment Advisory LLC bought a new position in shares of Lowe’s in the 1st quarter worth approximately $121,000. Truewealth LLC bought a new position in shares of Lowe’s in the 4th quarter worth approximately $128,000. Finally, Cerebellum GP LLC bought a new position in shares of Lowe’s in the 4th quarter worth approximately $129,000. Institutional investors and hedge funds own 72.83% of the company’s stock.
About Lowe’s
Lowe's Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States, Canada, and Mexico. It offers a line of products for maintenance, repair, remodeling, and decorating. The company provides home improvement products in various categories, such as lumber and building materials, tools and hardware, appliances, fashion fixtures, rough plumbing and electrical, seasonal and outdoor living, lawn and garden, paint, millwork, flooring, and kitchens, as well as outdoor power equipment.
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