Mizuho Forecasts Strong Price Appreciation for Lowe’s Companies (NYSE:LOW) Stock

Lowe’s Companies (NYSE:LOW) had its price objective hoisted by research analysts at Mizuho from $280.00 to $282.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the home improvement retailer’s stock. Mizuho’s price objective suggests a potential upside of 6.21% from the company’s previous close.

LOW has been the topic of several other research reports. DA Davidson upped their target price on shares of Lowe’s Companies from $240.00 to $270.00 and gave the company a “neutral” rating in a research note on Wednesday. Barclays boosted their price target on Lowe’s Companies from $229.00 to $245.00 and gave the company an “equal weight” rating in a report on Wednesday. Bank of America upped their target price on Lowe’s Companies from $275.00 to $305.00 and gave the company a “buy” rating in a report on Friday, October 11th. Royal Bank of Canada increased their price objective on Lowe’s Companies from $290.00 to $291.00 and gave the company a “sector perform” rating in a report on Wednesday. Finally, Melius Research started coverage on Lowe’s Companies in a report on Monday, September 23rd. They set a “buy” rating and a $290.00 price objective for the company. Ten investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $277.92.

Lowe’s Companies Stock Performance

NYSE:LOW opened at $265.50 on Wednesday. Lowe’s Companies has a 52 week low of $196.23 and a 52 week high of $287.01. The firm’s fifty day moving average is $268.56 and its 200-day moving average is $244.50. The firm has a market cap of $150.62 billion, a P/E ratio of 22.14, a P/E/G ratio of 2.15 and a beta of 1.10.

Lowe’s Companies (NYSE:LOW) last issued its 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. The firm had revenue of $23.59 billion during the quarter, compared to analyst estimates of $23.93 billion. Lowe’s Companies had a net margin of 8.19% and a negative return on equity of 47.55%. The company’s quarterly revenue was down 5.5% on a year-over-year basis. During the same quarter last year, the business earned $4.56 earnings per share. As a group, sell-side analysts anticipate that Lowe’s Companies will post 11.82 earnings per share for the current year.

Insider Activity

In other 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 value of $1,684,262.58. Following the completion of the transaction, the chief accounting officer now directly owns 9,383 shares of the company’s stock, valued at approximately $2,334,678.06. This represents a 41.91 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Margrethe R. Vagell sold 5,730 shares of Lowe’s Companies stock in a transaction 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 of the company’s stock, valued at $3,586,940.30. This trade represents a 30.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.26% of the company’s stock.

Institutional Trading of Lowe’s Companies

A number of hedge funds and other institutional investors have recently modified their holdings of LOW. Legacy Investment Solutions LLC bought a new stake in shares of Lowe’s Companies in the third quarter valued at approximately $27,000. Stephens Consulting LLC boosted its position in shares of Lowe’s Companies by 93.3% during 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 lifted its position in Lowe’s Companies by 555.6% in the 3rd quarter. JNBA Financial Advisors now owns 118 shares of the home improvement retailer’s stock valued at $32,000 after acquiring an additional 100 shares in the last quarter. MFA Wealth Advisors LLC increased its stake in Lowe’s Companies by 118.6% in the 3rd quarter. MFA Wealth Advisors LLC now owns 129 shares of the home improvement retailer’s stock valued at $35,000 after buying an additional 70 shares during the last quarter. Finally, Kimelman & Baird LLC purchased a new stake in shares of Lowe’s Companies during the 2nd quarter worth approximately $37,000. Institutional investors and hedge funds own 74.06% of the company’s stock.

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.