Lowe’s Companies (NYSE:LOW) Price Target Raised to $295.00

Lowe’s Companies (NYSE:LOW) had its price objective hoisted by stock analysts at TD Cowen from $250.00 to $295.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a “hold” rating on the home improvement retailer’s stock. TD Cowen’s price target would indicate a potential upside of 9.76% from the stock’s previous close.

Other research analysts also recently issued reports about the stock. Jefferies Financial Group upped their target price on shares of Lowe’s Companies from $280.00 to $285.00 and gave the company a “buy” rating in a research note on Friday, December 19th. Sanford C. Bernstein increased their price objective on shares of Lowe’s Companies from $282.00 to $284.00 and gave the company an “outperform” rating in a research note on Thursday, November 20th. JPMorgan Chase & Co. boosted their target price on shares of Lowe’s Companies from $275.00 to $300.00 and gave the stock an “overweight” rating in a research report on Thursday, November 20th. Cowen reaffirmed a “hold” rating on shares of Lowe’s Companies in a report on Tuesday. Finally, Barclays upgraded Lowe’s Companies from an “equal weight” rating to an “overweight” rating and set a $285.00 target price for the company in a research report on Wednesday, January 7th. Nineteen analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $283.65.

Lowe’s Companies Stock Performance

Lowe’s Companies stock traded down $8.78 during trading hours on Tuesday, reaching $268.77. 1,735,460 shares of the stock were exchanged, compared to its average volume of 2,852,774. The stock has a market cap of $150.76 billion, a P/E ratio of 22.30, a P/E/G ratio of 4.60 and a beta of 0.96. The firm’s 50 day moving average is $245.92 and its 200 day moving average is $244.98. Lowe’s Companies has a 52-week low of $206.38 and a 52-week high of $278.44.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings results on Wednesday, November 26th. The home improvement retailer reported $3.06 earnings per share for the quarter, beating analysts’ consensus estimates of $2.97 by $0.09. The business had revenue of $20.81 billion during the quarter, compared to analysts’ expectations of $20.88 billion. Lowe’s Companies had a negative return on equity of 55.86% and a net margin of 8.05%.The business’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same quarter last year, the business posted $2.89 earnings per share. Equities research analysts expect that Lowe’s Companies will post 11.9 EPS for the current fiscal year.

Insider Buying and Selling

In other Lowe’s Companies news, CEO Marvin R. Ellison sold 18,000 shares of Lowe’s Companies stock in a transaction on Friday, January 9th. The shares were sold at an average price of $261.17, for a total transaction of $4,701,060.00. Following the sale, the chief executive officer owned 231,043 shares in the company, valued at $60,341,500.31. The trade was a 7.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.27% of the stock is currently owned by company insiders.

Institutional Trading of Lowe’s Companies

Hedge funds have recently added to or reduced their stakes in the business. Waterloo Capital L.P. raised its holdings in Lowe’s Companies by 1.2% during the second quarter. Waterloo Capital L.P. now owns 3,455 shares of the home improvement retailer’s stock worth $767,000 after acquiring an additional 41 shares in the last quarter. TruWealth Advisors LLC lifted its position in Lowe’s Companies by 2.7% during the third quarter. TruWealth Advisors LLC now owns 1,580 shares of the home improvement retailer’s stock worth $397,000 after acquiring an additional 42 shares during the last quarter. Cypress Wealth Services LLC boosted its position in shares of Lowe’s Companies by 2.0% in the third quarter. Cypress Wealth Services LLC now owns 2,191 shares of the home improvement retailer’s stock valued at $551,000 after acquiring an additional 42 shares during the period. Hidden Cove Wealth Management LLC raised its position in shares of Lowe’s Companies by 4.6% in the third quarter. Hidden Cove Wealth Management LLC now owns 960 shares of the home improvement retailer’s stock valued at $241,000 after buying an additional 42 shares in the last quarter. Finally, First Pacific Financial raised its stake in Lowe’s Companies by 1.7% in the fourth quarter. First Pacific Financial now owns 2,544 shares of the home improvement retailer’s stock valued at $613,000 after purchasing an additional 42 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 is a leading home improvement retailer that operates large-format stores and digital channels serving both do-it-yourself homeowners and professional contractors. The company offers a broad assortment of products including building materials, lumber, appliances, tools and hardware, plumbing and electrical supplies, paint, flooring, kitchen and bath fixtures, outdoor and garden products, and home decor. Lowe’s also provides a range of services such as installation, home improvement financing, tool and equipment rental, and contractor-focused sales programs.

Operations are centered on a nationwide brick-and-mortar store network supported by distribution centers and an e-commerce platform that enables online ordering, delivery and in-store pickup.