US homebuilder stocks surge on hopes for demand boost after Fed rate cuts [Yahoo! Finance]
Lowe's Companies, Inc. (LOW)
Last lowe's companies, inc. earnings: 2/26 06:00 am
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phx.corporate-ir.net/phoenix.zhtml?c=95223&p=irol-irhome
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Source: Yahoo! Finance
Shares of home improvement chains Home Depot and Lowe's were also up about 2% in premarket trading on Thursday. The lower cost of financing could also boost further homebuilding activity offsetting a chronic shortage of homes that has been a growing issue since the 2008 financial crisis. The central bank drove up interest rates between 2022 and 2023 to the 5.25%-5.50% range to bring down high inflation, causing a slowdown in the housing market, but mortgage rates have been falling as the Fed telegraphed rate reductions. The average 30-year fixed rate mortgage rate recently declined to 6.20% according to Freddie Mac, from a high of nearly 8% months ago. Fed rate cuts will likely push mortgage interest rates down and should reduce interest rates on loans for land development and home construction businesses, NAHB Chief Economist Robert Dietz said in a recent report. "Lowering the cost of construction is critical to confront persistent challenges for housing affordability."
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- Lowe's Companies, Inc. (NYSE: LOW) had its price target raised by analysts at TD Cowen from $240.00 to $265.00. They now have a "hold" rating on the stock.MarketBeat
- Lowe's Companies, Inc. (NYSE: LOW) was upgraded by analysts at StockNews.com from a "hold" rating to a "buy" rating.MarketBeat
- Wells Fargo sees further rally in home improvement stocks if Fed sets measured guidance [Seeking Alpha]Seeking Alpha
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LOW
Earnings
- 8/20/24 - Beat
LOW
Sec Filings
- 9/17/24 - Form 4
- 9/17/24 - Form 4
- 9/16/24 - Form 4
- LOW's page on the SEC website