Solid

Lowe’s Up 30% in 3 Months on Solid Home Improvement Trends

The pandemic induced stay-at-home practice is encouraging home renovation and maintenance activities. This certainly is turning out to be an upside for certain home improvement market players, including Lowe’s Companies, Inc. LOW. Moreover, the company’s robust digital offerings and merchandise strategies are yielding, keeping investors interested in the stock.

Lowe’s currently has a Zacks Rank #3 (Hold). The stock has surged nearly 30% in the past three months compared with the industry’s rise of 19.6%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

That said, let’s take a look into some of the aspects that are acting as the aces in Lowe’s stack.

Home Improvements Market Looks Bright

With majority time being spent indoors due to the pandemic scenario, there is a rising focus on making homes an enjoyable and comfortable space. Home DIY projects for remodeling, decorating and maintenance of furniture

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Lowe’s Q2 Earnings Surge on Solid Sales Amid COVID-19 Restrictions; Buy with Target Price $190

Lowe’s Companies Inc, a home improvement retailer that distributes building materials and supplies through stores in the United States, said its net earnings surged more than 70% and total net sales jumped over 30% in the second quarter as consumers ordered more home improvement products amid COVID-19 restrictions.

The home improvement retailer reported net earnings of $2.8 billion and diluted earnings per share (EPS) of $3.74 for the quarter ended July 31, 2020, compared to net earnings of $1.7 billion and diluted EPS of $2.14 a year earlier. Second-quarter adjusted diluted EPS of $3.75 was 74% higher than adjusted diluted EPS of $2.15 same period last year.

Lowe’s said its sales for the second quarter were $27.3 billion, up from $21.0 billion in the second quarter of 2019, and comparable sales increased 34.2%.  Comparable sales for the U.S. home improvement business increased 35.1% during the period.

“We are

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