Morgan Stanley Increases Lowe’s Companies (NYSE:LOW) Price Target to $255.00

Lowe’s Companies (NYSE:LOW) had its price target raised by research analysts at Morgan Stanley from $250.00 to $255.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the home improvement retailer’s stock. Morgan Stanley’s price objective points to a potential upside of 6.10% from the stock’s current price.

Other equities analysts also recently issued research reports about the stock. Bank of America lowered their target price on shares of Lowe’s Companies from $280.00 to $275.00 and set a “buy” rating for the company in a research note on Wednesday. Stifel Nicolaus lifted their target price on shares of Lowe’s Companies from $225.00 to $250.00 and gave the stock a “hold” rating in a research note on Monday, May 13th. Telsey Advisory Group reissued a “market perform” rating and set a $230.00 target price on shares of Lowe’s Companies in a research note on Tuesday. Evercore ISI lifted their price target on shares of Lowe’s Companies from $225.00 to $250.00 and gave the company an “in-line” rating in a research note on Wednesday. Finally, Royal Bank of Canada decreased their price target on shares of Lowe’s Companies from $245.00 to $238.00 and set a “sector perform” rating for the company in a research note on Wednesday. Fourteen research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $252.96.

Lowe’s Companies Stock Performance

Shares of NYSE:LOW opened at $240.33 on Wednesday. The firm has a market cap of $136.95 billion, a PE ratio of 19.30, a price-to-earnings-growth ratio of 1.85 and a beta of 1.07. The firm’s fifty day moving average is $231.45 and its 200-day moving average is $232.32. Lowe’s Companies has a 52 week low of $181.85 and a 52 week high of $262.49.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings results 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 company had revenue of $23.59 billion for the quarter, compared to analyst estimates of $23.93 billion. Lowe’s Companies had a net margin of 8.46% and a negative return on equity of 48.52%. Lowe’s Companies’s revenue was down 5.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.56 earnings per share. Sell-side analysts forecast that Lowe’s Companies will post 12.23 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Tidemark LLC purchased a new position in Lowe’s Companies in the fourth quarter valued at about $27,000. Voisard Asset Management Group Inc. purchased a new position in Lowe’s Companies in the fourth quarter valued at about $28,000. Transcendent Capital Group LLC purchased a new position in Lowe’s Companies in the fourth quarter valued at about $31,000. Stephens Consulting LLC boosted its stake in Lowe’s Companies by 93.3% in the second quarter. Stephens Consulting LLC now owns 145 shares of the home improvement retailer’s stock valued at $32,000 after acquiring an additional 70 shares during the last quarter. Finally, Pacific Capital Wealth Advisors Inc. purchased a new position in Lowe’s Companies in the fourth quarter valued at about $33,000. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

About Lowe’s Companies

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.