SunTrust Banks Increases Lowe’s Companies (NYSE:LOW) Price Target to $135.00

Lowe’s Companies (NYSE:LOW) had its price target raised by investment analysts at SunTrust Banks from $115.00 to $135.00 in a research note issued to investors on Thursday, The Fly reports. The brokerage presently has a “buy” rating on the home improvement retailer’s stock. SunTrust Banks’ target price suggests a potential upside of 10.43% from the company’s previous close.

Several other brokerages have also recently weighed in on LOW. Jefferies Financial Group boosted their target price on Lowe’s Companies from $121.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, May 13th. UBS Group cut their target price on Lowe’s Companies from $140.00 to $130.00 and set a “buy” rating on the stock in a research report on Tuesday, April 7th. Zacks Investment Research lowered Lowe’s Companies from a “hold” rating to a “sell” rating and set a $108.00 price objective on the stock. in a research report on Tuesday, April 28th. Credit Suisse Group dropped their target price on Lowe’s Companies from $131.00 to $106.00 and set an “outperform” rating on the stock in a report on Wednesday, April 1st. Finally, KeyCorp upped their price objective on shares of Lowe’s Companies from $125.00 to $130.00 and gave the company an “overweight” rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twenty-seven have issued a buy rating to the company’s stock. Lowe’s Companies has a consensus rating of “Buy” and a consensus price target of $132.54.

LOW traded up $1.61 on Thursday, reaching $122.25. 6,063,492 shares of the stock were exchanged, compared to its average volume of 6,207,421. The company’s 50-day moving average price is $101.42 and its 200 day moving average price is $110.02. Lowe’s Companies has a fifty-two week low of $60.00 and a fifty-two week high of $126.73. The company has a debt-to-equity ratio of 14.05, a current ratio of 1.20 and a quick ratio of 0.14. The firm has a market capitalization of $91.08 billion, a PE ratio of 20.65, a PEG ratio of 1.33 and a beta of 1.38.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings results on Wednesday, May 20th. The home improvement retailer reported $1.77 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.32 by $0.45. Lowe’s Companies had a return on equity of 220.44% and a net margin of 6.17%. The firm had revenue of $19.68 billion during the quarter, compared to analyst estimates of $18.33 billion. During the same quarter in the previous year, the business earned $1.22 EPS. Lowe’s Companies’s revenue for the quarter was up 10.9% compared to the same quarter last year. As a group, equities analysts forecast that Lowe’s Companies will post 5.97 earnings per share for the current fiscal year.

In related news, CEO Marvin R. Ellison purchased 10,000 shares of the firm’s stock in a transaction on Friday, March 6th. The shares were bought at an average price of $103.86 per share, for a total transaction of $1,038,600.00. Following the acquisition, the chief executive officer now directly owns 90,090 shares in the company, valued at $9,356,747.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.07% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in LOW. Norges Bank acquired a new position in shares of Lowe’s Companies in the 4th quarter valued at $974,104,000. Nuveen Asset Management LLC boosted its holdings in shares of Lowe’s Companies by 31.7% in the 1st quarter. Nuveen Asset Management LLC now owns 8,170,002 shares of the home improvement retailer’s stock valued at $703,029,000 after purchasing an additional 1,966,342 shares during the last quarter. Fred Alger Management LLC lifted its holdings in shares of Lowe’s Companies by 967.2% during the 1st quarter. Fred Alger Management LLC now owns 1,891,030 shares of the home improvement retailer’s stock valued at $162,723,000 after acquiring an additional 1,713,842 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Lowe’s Companies by 26.9% during the 1st quarter. Bank of New York Mellon Corp now owns 7,782,725 shares of the home improvement retailer’s stock valued at $669,704,000 after acquiring an additional 1,647,977 shares in the last quarter. Finally, M&G Investment Management Ltd. acquired a new position in shares of Lowe’s Companies during the 4th quarter valued at $193,572,000. Institutional investors own 76.15% of the company’s stock.

About Lowe’s Companies

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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