Lowe’s Companies, Inc. (NYSE:LOW) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Monday.
According to Zacks, “Lowe’s shares have slid and underperformed the industry in the past six months. In fact, the stock came under pressure after it posted weaker-than-expected second-quarter fiscal 2017 results. This was the second quarter in row wherein both the top and bottom lines fell short of the Zacks Consensus Estimate. Nevertheless, both sales and earnings grew year over year, albeit at a rate lower than the preceding quarter. However, comps showed considerable improvement. Further, improving job scenario, recovery in the housing market and merchandising initiatives along with efforts to enhance omni-channel capabilities bode well. Management continues to expect sales to increase 5% with comps growth of 3.5% during fiscal 2017. However, lower-than-expected second-quarter results and investment plans compelled Lowe’s to trim fiscal 2017 earnings view. Lowe’s investment in customer-facing hours in stores and promotions will hurt margins.”
Several other research analysts have also recently weighed in on LOW. BMO Capital Markets reissued a “buy” rating and set a $89.00 price target on shares of Lowe’s Companies in a research report on Monday, May 15th. BTIG Research reaffirmed a “buy” rating and issued a $95.00 target price (up previously from $90.00) on shares of Lowe’s Companies in a research report on Friday, May 19th. Oppenheimer Holdings, Inc. set a $100.00 target price on shares of Lowe’s Companies and gave the company a “buy” rating in a research report on Wednesday, May 24th. Stifel Nicolaus decreased their target price on shares of Lowe’s Companies from $89.00 to $87.00 and set a “buy” rating on the stock in a research report on Thursday, May 25th. Finally, Goldman Sachs Group, Inc. (The) decreased their target price on shares of Lowe’s Companies from $97.00 to $96.00 and set a “buy” rating on the stock in a research report on Thursday, May 25th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and fourteen have given a buy rating to the stock. Lowe’s Companies has an average rating of “Hold” and a consensus price target of $85.00.
Lowe’s Companies (NYSE LOW) opened at 78.66 on Monday. The firm’s 50-day moving average is $75.92 and its 200 day moving average is $79.60. Lowe’s Companies has a 52-week low of $64.87 and a 52-week high of $86.25. The company has a market cap of $65.84 billion, a price-to-earnings ratio of 22.33 and a beta of 1.07.
Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings results on Wednesday, August 23rd. The home improvement retailer reported $1.57 earnings per share for the quarter, missing the consensus estimate of $1.62 by ($0.05). The firm had revenue of $19.50 billion for the quarter, compared to analyst estimates of $19.58 billion. Lowe’s Companies had a net margin of 4.51% and a return on equity of 62.02%. The company’s revenue was up 6.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.37 EPS. On average, equities research analysts predict that Lowe’s Companies will post $4.49 EPS for the current fiscal year.
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Several hedge funds have recently bought and sold shares of the company. Perigon Wealth Management LLC boosted its holdings in shares of Lowe’s Companies by 97.4% in the second quarter. Perigon Wealth Management LLC now owns 27,822 shares of the home improvement retailer’s stock valued at $2,157,000 after acquiring an additional 13,726 shares during the period. Intl Fcstone Inc. acquired a new stake in shares of Lowe’s Companies in the second quarter valued at approximately $243,000. Lord Abbett & CO. LLC boosted its holdings in shares of Lowe’s Companies by 81.0% in the second quarter. Lord Abbett & CO. LLC now owns 2,131,387 shares of the home improvement retailer’s stock valued at $165,247,000 after acquiring an additional 953,787 shares during the period. Phocas Financial Corp. acquired a new stake in shares of Lowe’s Companies in the second quarter valued at approximately $268,000. Finally, RNC Capital Management LLC boosted its holdings in shares of Lowe’s Companies by 0.9% in the second quarter. RNC Capital Management LLC now owns 49,916 shares of the home improvement retailer’s stock valued at $3,870,000 after acquiring an additional 439 shares during the period. 74.32% of the stock is owned by institutional investors and hedge funds.
About Lowe’s Companies
Lowe’s Companies, Inc (Lowe’s) is a FORTUNE home improvement company. The Company operates approximately 2,370 home improvement and hardware stores. The Company offers a range of products for maintenance, repair, remodeling and decorating. The Company offers home improvement products in categories, including Lumber and Building Materials; Tools and Hardware; Appliances; Fashion Fixtures; Rough Plumbing and Electrical; Lawn and Garden; Seasonal and Outdoor Living; Paint; Flooring; Millwork, and Kitchens.
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