Lowe’s Companies (NYSE:LOW) Stock Rating Upgraded by Oppenheimer

Lowe’s Companies (NYSE:LOW) was upgraded by stock analysts at Oppenheimer from a “market perform” rating to an “outperform” rating in a note issued to investors on Tuesday, MarketBeat Ratings reports. The firm presently has a $305.00 price objective on the home improvement retailer’s stock, up from their previous price objective of $230.00. Oppenheimer’s price objective points to a potential upside of 15.14% from the stock’s current price.

LOW has been the subject of a number of other research reports. Truist Financial raised their price target on shares of Lowe’s Companies from $265.00 to $269.00 and gave the company a “buy” rating in a report on Wednesday, August 21st. Morgan Stanley lifted their target price on Lowe’s Companies from $250.00 to $255.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Evercore ISI upped their price target on Lowe’s Companies from $225.00 to $250.00 and gave the company an “in-line” rating in a research note on Wednesday, August 21st. TD Cowen lifted their price objective on Lowe’s Companies from $240.00 to $265.00 and gave the stock a “hold” rating in a research report on Thursday, September 19th. Finally, Melius Research started coverage on Lowe’s Companies in a report on Monday. They set a “buy” rating and a $290.00 price objective for the company. Eleven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, Lowe’s Companies currently has an average rating of “Moderate Buy” and an average price target of $258.13.

Lowe’s Companies Stock Performance

Shares of LOW opened at $264.89 on Tuesday. The company has a market cap of $150.94 billion, a price-to-earnings ratio of 21.28, a PEG ratio of 2.15 and a beta of 1.10. The stock has a fifty day moving average price of $244.69 and a two-hundred day moving average price of $235.64. Lowe’s Companies has a 52-week low of $181.85 and a 52-week high of $268.09.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings results 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. Lowe’s Companies had a negative return on equity of 47.07% and a net margin of 8.25%. The business had revenue of $23.59 billion during the quarter, compared to analysts’ expectations of $23.93 billion. During the same period in the previous year, the business posted $4.56 earnings per share. The firm’s revenue for the quarter was down 5.5% compared to the same quarter last year. As a group, research analysts predict that Lowe’s Companies will post 11.93 EPS for the current fiscal year.

Insider Activity

In related news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the stock in a transaction that occurred 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 sale, the chief accounting officer now directly owns 9,383 shares of the company’s stock, valued at approximately $2,334,678.06. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.26% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Lowe’s Companies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Brevan Howard Capital Management LP boosted its position in shares of Lowe’s Companies by 824.6% during the fourth quarter. Brevan Howard Capital Management LP now owns 15,339 shares of the home improvement retailer’s stock worth $3,414,000 after buying an additional 13,680 shares during the period. Bamco Inc. NY boosted its position in Lowe’s Companies by 10.3% during the 1st quarter. Bamco Inc. NY now owns 216,958 shares of the home improvement retailer’s stock worth $55,266,000 after acquiring an additional 20,181 shares during the last quarter. Plato Investment Management Ltd grew its stake in shares of Lowe’s Companies by 655.9% during the 1st quarter. Plato Investment Management Ltd now owns 6,304 shares of the home improvement retailer’s stock worth $1,606,000 after acquiring an additional 5,470 shares in the last quarter. 17 Capital Partners LLC acquired a new stake in shares of Lowe’s Companies in the first quarter valued at approximately $1,368,000. Finally, Gerber LLC bought a new stake in shares of Lowe’s Companies in the fourth quarter worth $235,000. 74.06% of the stock is owned by institutional investors and hedge funds.

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.