At its meeting today, the board of directors of Lowe’s Companies, Inc. (NYSE:LOW) appointed Bertram L. Scott, 65, to the board, effective immediately. Today’s announcement brings Lowe’s board of directors to 12 members, 11 of whom are independent.
Scott brings to the board a wealth of senior leadership experience, having served as senior vice president of Population Health and Value Based Care at Novant Health since 2015 and as president, CEO and director of the Affinity Health Plan from 2012 to 2014. Scott was president, U.S. Commercial of CIGNA Corporation and served as executive vice president of TIAA-CREF for ten years and as president and CEO of TIAA-CREF Life Insurance Company from 2000 to 2007. He presently serves on the boards of Becton, Dickinson and Company and AXA Financial, Inc.
“With his leadership, strategy and integration experience, Bertram will provide valuable perspective asLowe’s continues to transition from a home improvement retailer to an omni-channel home improvement company,” said Robert A. Niblock, Lowe’s chairman, president and CEO.
Scott will serve on the Audit and Governance committees. He will stand for election at Lowe’s 2016 annual meeting of shareholders. (Original Source)
Shares of Lowe’s Companies opened today at $72.12 and are currently trading down at $71.01. LOW has a 1-year high of $76.25 and a 1-year low of $57.96. The stock’s 50-day moving average is $72.06 and its 200-day moving average is $69.84.
On the ratings front, Lowe’s Companies has been the subject of a number of recent research reports. In a report issued on November 4, Deutsche Bank analyst Michael Baker maintained a Buy rating on LOW, with a price target of $80, which implies an upside of 10.9% from current levels. Separately, on October 22, Oppenheimer’s Brian Nagel reiterated a Buy rating on the stock and has a price target of $85.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Michael Baker and Brian Nagel have a total average return of -1.2% and 9.0% respectively. Baker has a success rate of 42.2% and is ranked #2899 out of 3842 analysts, while Nagel has a success rate of 62.4% and is ranked #187.
Overall, 2 research analysts have assigned a Hold rating and 4 research analysts have given a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $83.67 which is 16.0% above where the stock opened today.
Lowe’s Companies Inc is a home improvement retailer, which serves home-owners, renters and Commercial Business Customers.