Lowe’s Companies (NYSE:LOW) Stock Rating Upgraded by Telsey Advisory Group

Lowe’s Companies (NYSE:LOW) was upgraded by analysts at Telsey Advisory Group from a “market perform” rating to an “outperform” rating in a report released on Friday, Marketbeat reports. The firm presently has a $305.00 price objective on the home improvement retailer’s stock, up from their prior price objective of $275.00. Telsey Advisory Group’s target price would suggest a potential upside of 14.53% from the stock’s previous close.

Several other research firms have also commented on LOW. StockNews.com upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a research report on Wednesday, September 18th. Oppenheimer upgraded shares of Lowe’s Companies from a “market perform” rating to an “outperform” rating and increased their target price for the company from $230.00 to $305.00 in a research report on Tuesday, September 24th. JPMorgan Chase & Co. decreased their target price on shares of Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating for the company in a research report on Wednesday, August 21st. Wells Fargo & Company increased their target price on shares of Lowe’s Companies from $280.00 to $295.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, Bank of America increased their target price on shares of Lowe’s Companies from $275.00 to $305.00 and gave the company a “buy” rating in a research report on Friday, October 11th. Ten research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $273.44.

Lowe’s Companies Stock Performance

Lowe’s Companies stock opened at $266.30 on Friday. The company has a 50-day simple moving average of $263.77 and a 200-day simple moving average of $241.67. The firm has a market capitalization of $151.07 billion, a P/E ratio of 22.08, a P/E/G ratio of 2.18 and a beta of 1.10. Lowe’s Companies has a one year low of $189.05 and a one year high of $287.01.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 EPS for the quarter, topping the consensus estimate of $3.96 by $0.14. The business 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 8.25% and a negative return on equity of 47.07%. The company’s quarterly revenue was down 5.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.56 earnings per share. As a group, sell-side analysts forecast that Lowe’s Companies will post 11.91 earnings per share for the current year.

Insiders Place Their Bets

In other Lowe’s Companies news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were 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 in the company, valued at $2,334,678.06. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the firm’s stock in a transaction that occurred 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 directly owns 9,383 shares in the company, valued at approximately $2,334,678.06. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Margrethe R. Vagell sold 5,730 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $271.45, for a total transaction of $1,555,408.50. Following the sale, the executive vice president now owns 13,214 shares of the company’s stock, valued at approximately $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. Corporate insiders own 0.26% of the company’s stock.

Institutional Trading of Lowe’s Companies

Several institutional investors have recently made changes to their positions in LOW. Stephens Consulting LLC raised its position in Lowe’s Companies by 93.3% during the second quarter. Stephens Consulting LLC now owns 145 shares of the home improvement retailer’s stock valued at $32,000 after acquiring an additional 70 shares in the last quarter. JNBA Financial Advisors raised its position in Lowe’s Companies by 555.6% during the third 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 raised its position in Lowe’s Companies by 118.6% during the third quarter. MFA Wealth Advisors LLC now owns 129 shares of the home improvement retailer’s stock valued at $35,000 after acquiring an additional 70 shares in the last quarter. Kimelman & Baird LLC bought a new position in Lowe’s Companies during the second quarter valued at approximately $37,000. Finally, Tsfg LLC raised its position in Lowe’s Companies by 128.2% during the third quarter. Tsfg LLC now owns 178 shares of the home improvement retailer’s stock valued at $48,000 after acquiring an additional 100 shares in the last quarter. 74.06% of the stock is currently owned by institutional investors and hedge funds.

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.