Goldman Sachs Group Initiates Coverage on Lowe’s Companies (NYSE:LOW)

Analysts at Goldman Sachs Group started coverage on shares of Lowe’s Companies (NYSE:LOW) in a report issued on Thursday, Marketbeat Ratings reports. The brokerage set a “buy” rating and a $119.00 price target on the home improvement retailer’s stock. Goldman Sachs Group’s target price would suggest a potential upside of 10.80% from the company’s current price.

Other equities research analysts also recently issued research reports about the stock. Wells Fargo & Co reissued a “buy” rating on shares of Amphastar Pharmaceuticals in a research note on Friday, May 10th. Telsey Advisory Group restated a “market perform” rating and issued a $28.00 price target on shares of L Brands in a report on Thursday, May 23rd. Citigroup cut their price target on shares of GrafTech International from $21.00 to $17.00 and set a “buy” rating on the stock in a report on Monday, April 1st. SunTrust Banks upped their price target on shares of Copart to $78.00 and gave the stock a “buy” rating in a report on Friday, May 24th. Finally, Cfra restated a “hold” rating and issued a $105.00 price target on shares of Lowe’s Companies in a report on Friday, June 14th. Nine investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $112.88.

Shares of LOW opened at $107.40 on Thursday. Lowe’s Companies has a twelve month low of $84.75 and a twelve month high of $118.23. The stock has a market capitalization of $82.10 billion, a P/E ratio of 20.89, a P/E/G ratio of 1.33 and a beta of 1.36. The company has a current ratio of 1.09, a quick ratio of 0.24 and a debt-to-equity ratio of 6.37. The company has a fifty day moving average price of $98.98.

Lowe’s Companies (NYSE:LOW) last announced its earnings results on Wednesday, May 22nd. The home improvement retailer reported $1.22 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.33 by ($0.11). Lowe’s Companies had a net margin of 3.31% and a return on equity of 91.85%. The firm had revenue of $17.74 billion during the quarter, compared to analysts’ expectations of $17.65 billion. During the same period in the prior year, the company posted $1.19 EPS. The company’s revenue was up 2.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Lowe’s Companies will post 5.59 EPS for the current year.

In other Lowe’s Companies news, EVP Donald Frieson bought 2,030 shares of the company’s stock in a transaction on Wednesday, June 19th. The shares were bought at an average cost of $98.69 per share, for a total transaction of $200,340.70. Following the acquisition, the executive vice president now directly owns 10,980 shares in the company, valued at $1,083,616.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Marvin R. Ellison bought 10,000 shares of the company’s stock in a transaction on Friday, May 24th. The shares were acquired at an average price of $95.05 per share, for a total transaction of $950,500.00. Following the completion of the acquisition, the insider now owns 80,090 shares in the company, valued at $7,612,554.50. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 12,280 shares of company stock worth $1,174,566. 0.07% of the stock is owned by company insiders.

A number of institutional investors have recently modified their holdings of LOW. Lunia Capital LP grew its holdings in Lowe’s Companies by 18,944.2% during the 4th quarter. Lunia Capital LP now owns 15,741,007 shares of the home improvement retailer’s stock worth $15,741,000 after acquiring an additional 15,658,352 shares in the last quarter. Norges Bank bought a new position in Lowe’s Companies during the 4th quarter worth about $734,285,000. FMR LLC grew its holdings in Lowe’s Companies by 9.2% during the 4th quarter. FMR LLC now owns 23,893,923 shares of the home improvement retailer’s stock worth $2,206,843,000 after acquiring an additional 2,014,183 shares in the last quarter. Boston Partners grew its holdings in Lowe’s Companies by 20.3% during the 1st quarter. Boston Partners now owns 4,900,149 shares of the home improvement retailer’s stock worth $536,420,000 after acquiring an additional 826,414 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in Lowe’s Companies by 7.6% during the 4th quarter. Geode Capital Management LLC now owns 10,336,009 shares of the home improvement retailer’s stock worth $952,946,000 after acquiring an additional 728,740 shares in the last quarter. Institutional investors own 76.79% 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, Canada, and Mexico. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It provides home improvement products in various categories, such as lumber and building materials, appliances, seasonal and outdoor living, tools and hardware, fashion fixtures, rough plumbing and electrical, paint, millwork, lawn and garden, flooring, and kitchens.

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Analyst Recommendations for Lowe`s Companies (NYSE:LOW)

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