Lowe’s Companies (NYSE:LOW) PT Raised to $265.00

Lowe’s Companies (NYSE:LOW) had its price objective hoisted by TD Cowen from $240.00 to $265.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has a “hold” rating on the home improvement retailer’s stock. TD Cowen’s target price would indicate a potential upside of 1.86% from the company’s previous close.

A number of other analysts also recently commented on the stock. Truist Financial boosted their price objective on shares of Lowe’s Companies from $265.00 to $269.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. Gordon Haskett reduced their price target on shares of Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating on the stock in a report on Wednesday, August 21st. Morgan Stanley upped their price target on shares of Lowe’s Companies from $250.00 to $255.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. DA Davidson reduced their price target on shares of Lowe’s Companies from $270.00 to $240.00 and set a “neutral” rating on the stock in a report on Wednesday, May 22nd. Finally, Bank of America reduced their price target on shares of Lowe’s Companies from $280.00 to $275.00 and set a “buy” rating on the stock in a report on Wednesday, August 21st. Thirteen analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, Lowe’s Companies presently has a consensus rating of “Hold” and a consensus target price of $253.33.

Lowe’s Companies Trading Down 0.3 %

LOW stock opened at $260.17 on Thursday. The company has a market cap of $148.25 billion, a P/E ratio of 20.90, a P/E/G ratio of 2.03 and a beta of 1.10. Lowe’s Companies has a 52 week low of $181.85 and a 52 week high of $262.49. The company’s 50-day moving average price is $243.58 and its 200 day moving average price is $235.40.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings data on Tuesday, August 20th. The home improvement retailer reported $4.10 EPS for the quarter, topping analysts’ consensus estimates of $3.96 by $0.14. The firm had revenue of $23.59 billion for the quarter, compared to the consensus estimate of $23.93 billion. Lowe’s Companies had a net margin of 8.25% and a negative return on equity of 47.07%. The firm’s revenue was down 5.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $4.56 earnings per share. On average, equities research analysts expect that Lowe’s Companies will post 11.93 earnings per share for the current year.

Insider Transactions at Lowe’s Companies

In related news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $248.82, for a total value of $1,684,262.58. Following the transaction, the chief accounting officer now owns 9,383 shares in the company, valued at $2,334,678.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.26% of the company’s stock.

Hedge Funds Weigh In On Lowe’s Companies

A number of hedge funds have recently made changes to their positions in the business. Brevan Howard Capital Management LP raised its position in Lowe’s Companies by 824.6% in the fourth quarter. Brevan Howard Capital Management LP now owns 15,339 shares of the home improvement retailer’s stock valued at $3,414,000 after purchasing an additional 13,680 shares during the period. Bamco Inc. NY lifted its position in Lowe’s Companies by 10.3% during the 1st quarter. Bamco Inc. NY now owns 216,958 shares of the home improvement retailer’s stock worth $55,266,000 after acquiring an additional 20,181 shares in the last quarter. Plato Investment Management Ltd boosted its holdings in Lowe’s Companies by 655.9% in the 1st quarter. Plato Investment Management Ltd now owns 6,304 shares of the home improvement retailer’s stock worth $1,606,000 after acquiring an additional 5,470 shares during the period. 17 Capital Partners LLC acquired a new stake in Lowe’s Companies in the first quarter valued at approximately $1,368,000. Finally, Gerber LLC purchased a new stake in shares of Lowe’s Companies during the fourth quarter valued at approximately $235,000. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Company Profile

Lowe's Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It also provides home improvement products, such as appliances, seasonal and outdoor living, lawn and garden, lumber, kitchens and bath, tools, paint, millwork, hardware, flooring, rough plumbing, building materials, décor, and electrical.