Analyst Explains Why They Upgraded Their Rating on Lowe’s (LOW)


Lowe’s (LOW) received a Buy rating and a $235.00 price target from Oppenheimer analyst Brian Nagel today. The company’s shares closed last Wednesday at $195.54.

According to TipRanks.com, Nagel is a top 25 analyst with an average return of 36.4% and a 76.4% success rate. Nagel covers the Consumer Goods sector, focusing on stocks such as Dick’s Sporting Goods, Lululemon Athletica, and The Lovesac Company.

Currently, the analyst consensus on Lowe’s is a Strong Buy with an average price target of $219.39, a 8.0% upside from current levels. In a report issued on April 29, Barclays also maintained a Buy rating on the stock with a $215.00 price target.

See today’s analyst top recommended stocks >>

Based on Lowe’s’ latest earnings release for the quarter ending January 31, the company reported a quarterly revenue of $20.31 billion and net profit of $978 million. In comparison, last year the company earned revenue of $16.03 billion and had a net profit of $510 million.

Based on the recent corporate insider activity of 18 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of LOW in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Founded in 1946, Lowe’s Companies, Inc. operates as a home improvement retailer in the United States, Canada and Mexico. It offers home improvement products in various categories including appliances, bathroom, building supply, electrical, flooring, hardware, paint, kitchen, plumbing, lighting & fans, outdoor living, windows, and doors. The company is headquartered in Mooresville, North Carolina.

Stay Ahead of Everyone Else

Get The Latest Stock News Alerts