Lowe's Companies (LOW) PT Lowered to $102.00
Lowe's Companies (NYSE:LOW) had its price objective lowered by Royal Bank of Canada to $102.00 in a research note published on Thursday morning. Royal Bank of Canada currently has an outperform rating on the home improvement retailer’s stock.
A number of other brokerages have also issued reports on LOW. Telsey Advisory Group raised shares of Lowe's Companies from a market perform rating to an outperform rating and increased their price objective for the company from $83.00 to $124.00 in a report on Thursday, January 25th. BMO Capital Markets reaffirmed a hold rating and set a $82.00 price objective on shares of Lowe's Companies in a report on Thursday, November 2nd. Raymond James Financial raised shares of Lowe's Companies from a market perform rating to an outperform rating and set a $87.00 price objective for the company in a report on Monday, November 27th. Sanford C. Bernstein raised shares of Lowe's Companies from an underperform rating to an outperform rating in a report on Monday, January 22nd. Finally, Zacks Investment Research raised shares of Lowe's Companies from a hold rating to a buy rating and set a $116.00 price objective for the company in a report on Friday, February 2nd. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-three have assigned a buy rating to the company. The company currently has a consensus rating of Buy and a consensus price target of $97.35.
Shares of Lowe's Companies (LOW) traded up $0.67 on Thursday, reaching $86.01. 1,087,861 shares of the company’s stock were exchanged, compared to its average volume of 7,154,779. The company has a debt-to-equity ratio of 2.65, a quick ratio of 0.11 and a current ratio of 1.06. Lowe's Companies has a twelve month low of $70.76 and a twelve month high of $108.98. The stock has a market cap of $70,832.20, a price-to-earnings ratio of 20.96, a P/E/G ratio of 0.91 and a beta of 1.30.
Lowe's Companies announced that its Board of Directors has initiated a share repurchase program on Friday, January 26th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the home improvement retailer to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Almanack Investment Partners LLC. bought a new stake in shares of Lowe's Companies during the fourth quarter worth $106,000. Stonehearth Capital Management LLC bought a new stake in shares of Lowe's Companies during the fourth quarter worth $112,000. Atlantic Trust LLC bought a new stake in shares of Lowe's Companies during the second quarter worth $105,000. IHT Wealth Management LLC lifted its position in shares of Lowe's Companies by 8.7% during the second quarter. IHT Wealth Management LLC now owns 1,368 shares of the home improvement retailer’s stock worth $154,000 after purchasing an additional 110 shares during the last quarter. Finally, Truewealth LLC bought a new stake in shares of Lowe's Companies during the fourth quarter worth $128,000. Institutional investors own 73.14% of the company’s stock.
About Lowe's Companies
Lowe’s Companies, Inc (Lowe’s) is a 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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