Royal Bank of Canada Issues Pessimistic Forecast for Lowe’s Companies (NYSE:LOW) Stock Price

Lowe’s Companies (NYSE:LOW) had its price target reduced by research analysts at Royal Bank of Canada from $292.00 to $285.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “sector perform” rating on the home improvement retailer’s stock. Royal Bank of Canada’s target price would indicate a potential upside of 14.59% from the company’s current price.

Several other equities research analysts have also recently commented on the company. DA Davidson boosted their price target on Lowe’s Companies from $240.00 to $270.00 and gave the company a “neutral” rating in a research note on Wednesday, November 20th. Bank of America dropped their price target on shares of Lowe’s Companies from $305.00 to $290.00 and set a “buy” rating on the stock in a research note on Thursday. Stifel Nicolaus lifted their price objective on shares of Lowe’s Companies from $265.00 to $270.00 and gave the company a “hold” rating in a research note on Wednesday, December 11th. StockNews.com raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a research report on Friday, January 17th. Finally, Barclays boosted their price target on Lowe’s Companies from $229.00 to $245.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 20th. Ten research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $280.83.

Lowe’s Companies Stock Performance

NYSE LOW opened at $248.71 on Thursday. The firm’s 50 day moving average price is $252.52 and its two-hundred day moving average price is $258.89. Lowe’s Companies has a twelve month low of $211.80 and a twelve month high of $287.01. The stock has a market cap of $140.43 billion, a price-to-earnings ratio of 20.74, a PEG ratio of 1.96 and a beta of 1.11.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings results on Wednesday, February 26th. The home improvement retailer reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.10. The business had revenue of $18.55 billion for the quarter, compared to the consensus estimate of $18.29 billion. Lowe’s Companies had a negative return on equity of 47.55% and a net margin of 8.19%. On average, research analysts forecast that Lowe’s Companies will post 11.9 EPS for the current fiscal year.

Hedge Funds Weigh In On Lowe’s Companies

Large investors have recently added to or reduced their stakes in the company. StoneX Group Inc. bought a new stake in shares of Lowe’s Companies during the third quarter valued at approximately $2,713,000. Principal Financial Group Inc. increased its holdings in Lowe’s Companies by 4.0% in the 3rd quarter. Principal Financial Group Inc. now owns 649,601 shares of the home improvement retailer’s stock valued at $175,944,000 after buying an additional 24,812 shares during the period. Miracle Mile Advisors LLC raised its stake in shares of Lowe’s Companies by 288.6% in the 4th quarter. Miracle Mile Advisors LLC now owns 19,028 shares of the home improvement retailer’s stock valued at $4,696,000 after buying an additional 14,132 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Lowe’s Companies by 1.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 362,209 shares of the home improvement retailer’s stock worth $98,104,000 after acquiring an additional 4,435 shares during the period. Finally, Nations Financial Group Inc. IA ADV boosted its position in shares of Lowe’s Companies by 2.6% during the 4th quarter. Nations Financial Group Inc. IA ADV now owns 19,830 shares of the home improvement retailer’s stock valued at $4,894,000 after acquiring an additional 501 shares in the last quarter. Institutional investors and hedge funds 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.