Sanford C. Bernstein Initiates Coverage on Lowe’s Companies (NYSE:LOW)

Research analysts at Sanford C. Bernstein assumed coverage on shares of Lowe’s Companies (NYSE:LOW) in a research note issued on Tuesday, Briefing.com reports. The brokerage set an “outperform” rating and a $323.00 price target on the home improvement retailer’s stock. Sanford C. Bernstein’s target price suggests a potential upside of 16.67% from the company’s previous close.

A number of other research analysts have also recently commented on the stock. Evercore ISI raised their price target on shares of Lowe’s Companies from $225.00 to $250.00 and gave the stock an “in-line” rating in a research note on Wednesday, August 21st. Loop Capital upgraded Lowe’s Companies from a “hold” rating to a “buy” rating and raised their target price for the stock from $250.00 to $300.00 in a research report on Wednesday, October 9th. Gordon Haskett lowered their price target on Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating on the stock in a research report on Wednesday, August 21st. Bank of America lifted their price objective on Lowe’s Companies from $275.00 to $305.00 and gave the company a “buy” rating in a report on Friday, October 11th. Finally, Telsey Advisory Group increased their target price on shares of Lowe’s Companies from $230.00 to $275.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 2nd. Eleven analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, Lowe’s Companies currently has an average rating of “Moderate Buy” and an average target price of $270.60.

Lowe’s Companies Trading Down 1.7 %

LOW opened at $276.84 on Tuesday. The stock’s 50 day simple moving average is $258.29 and its 200-day simple moving average is $239.03. The stock has a market cap of $157.75 billion, a PE ratio of 22.24, a P/E/G ratio of 2.28 and a beta of 1.10. Lowe’s Companies has a 1 year low of $181.85 and a 1 year high of $287.01.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share for the quarter, topping analysts’ consensus estimates of $3.96 by $0.14. Lowe’s Companies had a net margin of 8.25% and a negative return on equity of 47.07%. The firm had revenue of $23.59 billion for the quarter, compared to the consensus estimate of $23.93 billion. During the same quarter in the previous year, the company earned $4.56 earnings per share. The business’s revenue was down 5.5% compared to the same quarter last year. Equities analysts forecast that Lowe’s Companies will post 11.91 earnings per share for the current fiscal year.

Insider Activity at Lowe’s Companies

In other Lowe’s Companies news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were 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 owns 9,383 shares in the company, valued at approximately $2,334,678.06. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the business’s stock in a transaction dated 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 approximately $2,334,678.06. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Margrethe R. Vagell sold 5,730 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $271.45, for a total transaction of $1,555,408.50. Following the completion of the sale, the executive vice president now owns 13,214 shares in the company, valued at $3,586,940.30. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by company insiders.

Institutional Trading of Lowe’s Companies

A number of large investors have recently made changes to their positions in the company. Symphony Financial Ltd. Co. grew its stake in Lowe’s Companies by 6.0% in the third quarter. Symphony Financial Ltd. Co. now owns 7,940 shares of the home improvement retailer’s stock valued at $2,122,000 after acquiring an additional 449 shares during the period. Waldron Private Wealth LLC grew its position in shares of Lowe’s Companies by 16.6% in the 3rd quarter. Waldron Private Wealth LLC now owns 8,183 shares of the home improvement retailer’s stock valued at $2,216,000 after purchasing an additional 1,164 shares during the period. Eastern Bank bought a new stake in Lowe’s Companies during the 3rd quarter worth approximately $37,388,000. Sequoia Financial Advisors LLC raised its holdings in Lowe’s Companies by 18.5% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 33,866 shares of the home improvement retailer’s stock worth $9,173,000 after buying an additional 5,287 shares during the period. Finally, Sky Investment Group LLC bought a new position in Lowe’s Companies in the third quarter valued at approximately $217,000. Institutional investors own 74.06% 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. 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.