Lowe's Companies (NYSE:LOW) Receives Buy Rating from Guggenheim

Lowe's Companies (NYSE:LOW - Get Free Report)'s stock had its "buy" rating reaffirmed by investment analysts at Guggenheim in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $300.00 price target on the home improvement retailer's stock. Guggenheim's target price would indicate a potential upside of 32.90% from the company's previous close.

A number of other brokerages have also issued reports on LOW. Wall Street Zen raised shares of Lowe's Companies from a "hold" rating to a "buy" rating in a research note on Tuesday, April 15th. Telsey Advisory Group restated an "outperform" rating and set a $305.00 price target on shares of Lowe's Companies in a research note on Wednesday, May 21st. KeyCorp raised shares of Lowe's Companies from a "sector weight" rating to an "overweight" rating and set a $266.00 price target for the company in a research report on Friday, April 25th. JPMorgan Chase & Co. cut their target price on shares of Lowe's Companies from $300.00 to $263.00 and set an "overweight" rating for the company in a report on Tuesday, May 6th. Finally, Robert W. Baird cut their price target on shares of Lowe's Companies from $295.00 to $285.00 and set an "outperform" rating for the company in a report on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and seventeen have given a buy rating to the company's stock. Based on data from MarketBeat.com, Lowe's Companies presently has a consensus rating of "Moderate Buy" and an average price target of $271.12.

Lowe's Companies Stock Performance

Shares of NYSE LOW traded down $2.88 during mid-day trading on Tuesday, hitting $225.74. 2,083,390 shares of the stock traded hands, compared to its average volume of 2,524,902. Lowe's Companies has a 52 week low of $206.38 and a 52 week high of $287.01. The company has a market cap of $126.51 billion, a price-to-earnings ratio of 18.70, a PEG ratio of 2.16 and a beta of 0.90. The stock has a fifty day moving average price of $223.32 and a 200-day moving average price of $232.76.

Lowe's Companies (NYSE:LOW - Get Free Report) last issued its earnings results on Wednesday, May 21st. The home improvement retailer reported $2.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.88 by $0.04. Lowe's Companies had a net margin of 8.22% and a negative return on equity of 49.12%. The company had revenue of $20.93 billion for the quarter, compared to analysts' expectations of $21.09 billion. During the same quarter last year, the company posted $3.06 earnings per share. The firm's quarterly revenue was down 2.0% on a year-over-year basis. As a group, sell-side analysts predict that Lowe's Companies will post 11.9 EPS for the current fiscal year.

Insider Activity at Lowe's Companies

In related news, EVP Juliette Williams Pryor sold 1,130 shares of the company's stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $227.50, for a total value of $257,075.00. Following the sale, the executive vice president owned 31,898 shares of the company's stock, valued at approximately $7,256,795. This represents a 3.42% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.27% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Lowe's Companies

Several large investors have recently added to or reduced their stakes in the business. Wood Tarver Financial Group LLC acquired a new stake in shares of Lowe's Companies in the fourth quarter valued at about $25,000. Caisse Des Depots ET Consignations acquired a new stake in shares of Lowe's Companies during the 4th quarter worth approximately $33,000. Fairway Wealth LLC acquired a new stake in shares of Lowe's Companies in the 1st quarter worth about $32,000. Orion Capital Management LLC bought a new stake in shares of Lowe's Companies during the fourth quarter valued at approximately $36,000. Finally, Olistico Wealth LLC acquired a new position in shares of Lowe's Companies during the second quarter worth approximately $33,000. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

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.