Lowe’s Companies (NYSE:LOW) Given New $282.00 Price Target at Mizuho

Lowe’s Companies (NYSE:LOW) had its target price hoisted by equities research analysts at Mizuho from $280.00 to $282.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the home improvement retailer’s stock. Mizuho’s price target suggests a potential upside of 7.46% from the company’s current price.

Several other analysts also recently issued reports on LOW. Melius Research assumed coverage on Lowe’s Companies in a research note on Monday, September 23rd. They issued a “buy” rating and a $290.00 price target for the company. Evercore ISI boosted their target price on shares of Lowe’s Companies from $225.00 to $250.00 and gave the company an “in-line” rating in a research report on Wednesday, August 21st. Oppenheimer raised shares of Lowe’s Companies from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $230.00 to $305.00 in a research report on Tuesday, September 24th. Loop Capital raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating and boosted their price objective for the company from $250.00 to $300.00 in a report on Wednesday, October 9th. Finally, DA Davidson raised their target price on shares of Lowe’s Companies from $240.00 to $270.00 and gave the stock a “neutral” rating in a report on Wednesday. Ten research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, Lowe’s Companies has an average rating of “Moderate Buy” and an average price target of $277.88.

Lowe’s Companies Stock Up 1.2 %

Shares of NYSE LOW traded up $3.17 during mid-day trading on Wednesday, reaching $262.43. 830,062 shares of the company were exchanged, compared to its average volume of 2,441,403. The stock has a market capitalization of $148.87 billion, a P/E ratio of 21.76, a P/E/G ratio of 2.21 and a beta of 1.10. The company’s 50-day simple moving average is $267.97 and its 200-day simple moving average is $244.23. Lowe’s Companies has a twelve month low of $196.23 and a twelve month high of $287.01.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings data on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $23.93 billion. During the same period last year, the business posted $4.56 earnings per share. The business’s revenue for the quarter was down 5.5% compared to the same quarter last year. As a group, equities research analysts expect that Lowe’s Companies will post 11.93 EPS for the current year.

Insider Activity

In related news, EVP Margrethe R. Vagell sold 5,730 shares of Lowe’s Companies stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $271.45, for a total value of $1,555,408.50. Following the transaction, the executive vice president now directly owns 13,214 shares of the company’s stock, valued at $3,586,940.30. The trade was a 30.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the 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 sale, the chief accounting officer now directly owns 9,383 shares of the company’s stock, valued at $2,334,678.06. This represents a 41.91 % decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Lowe’s Companies

Institutional investors have recently modified their holdings of the company. Crew Capital Management Ltd. raised its stake in Lowe’s Companies by 1.0% during the third quarter. Crew Capital Management Ltd. now owns 3,873 shares of the home improvement retailer’s stock worth $1,049,000 after buying an additional 37 shares during the last quarter. Summit Place Financial Advisors LLC raised its position in shares of Lowe’s Companies by 2.8% in the 3rd quarter. Summit Place Financial Advisors LLC now owns 1,375 shares of the home improvement retailer’s stock worth $372,000 after acquiring an additional 37 shares in the last quarter. Clean Yield Group raised its position in shares of Lowe’s Companies by 2.4% in the 3rd quarter. Clean Yield Group now owns 1,599 shares of the home improvement retailer’s stock worth $433,000 after acquiring an additional 38 shares in the last quarter. Mitchell Mcleod Pugh & Williams Inc. lifted its stake in shares of Lowe’s Companies by 0.5% in the 3rd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 7,460 shares of the home improvement retailer’s stock valued at $2,021,000 after purchasing an additional 40 shares during the period. Finally, Drive Wealth Management LLC boosted its position in shares of Lowe’s Companies by 2.2% during the 2nd quarter. Drive Wealth Management LLC now owns 1,894 shares of the home improvement retailer’s stock valued at $418,000 after purchasing an additional 41 shares in the last quarter. 74.06% of the stock is owned by institutional investors.

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.