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

Lowe’s Companies (NYSE:LOW) had its price target upped by equities researchers at 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 price target would suggest a potential upside of 1.88% from the stock’s previous close.

Other research analysts also recently issued reports about the company. Truist Financial increased their price objective on Lowe’s Companies from $265.00 to $269.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Gordon Haskett cut their target price on Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating for the company in a research note on Wednesday, August 21st. Evercore ISI raised their target price on Lowe’s Companies from $225.00 to $250.00 and gave the stock an “in-line” rating in a research note on Wednesday, August 21st. Royal Bank of Canada cut their price objective on Lowe’s Companies from $245.00 to $238.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 21st. Finally, Piper Sandler reduced their price objective on shares of Lowe’s Companies from $264.00 to $262.00 and set an “overweight” 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 data from MarketBeat, Lowe’s Companies has a consensus rating of “Hold” and a consensus price target of $253.33.

Lowe’s Companies Stock Performance

Shares of NYSE:LOW traded up $3.47 during midday trading on Thursday, reaching $260.10. 736,102 shares of the company’s stock traded hands, compared to its average volume of 2,473,521. Lowe’s Companies has a 1 year low of $181.85 and a 1 year high of $262.49. The company has a market cap of $148.21 billion, a P/E ratio of 20.86, a PEG ratio of 2.03 and a beta of 1.10. The company has a fifty day simple moving average of $242.43 and a two-hundred day simple moving average of $235.09.

Lowe’s Companies (NYSE:LOW) last announced its earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.96 by $0.14. Lowe’s Companies had a negative return on equity of 47.07% and a net margin of 8.25%. The firm had revenue of $23.59 billion for the quarter, compared to analyst estimates of $23.93 billion. During the same quarter last year, the firm posted $4.56 EPS. The business’s revenue was down 5.5% on a year-over-year basis. As a group, research analysts forecast that Lowe’s Companies will post 11.93 EPS for the current fiscal year.

Insider Activity at Lowe’s Companies

In related news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $248.82, for a total value of $1,684,262.58. Following the completion of the transaction, the chief accounting officer now directly owns 9,383 shares of the company’s stock, valued at $2,334,678.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.26% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Lowe’s Companies

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Brevan Howard Capital Management LP lifted its stake 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 buying an additional 13,680 shares during the last quarter. Bamco Inc. NY lifted its stake in Lowe’s Companies by 10.3% in the first quarter. Bamco Inc. NY now owns 216,958 shares of the home improvement retailer’s stock valued at $55,266,000 after buying an additional 20,181 shares during the last quarter. Plato Investment Management Ltd lifted its stake in Lowe’s Companies by 655.9% in the first quarter. Plato Investment Management Ltd now owns 6,304 shares of the home improvement retailer’s stock valued at $1,606,000 after buying an additional 5,470 shares during the last quarter. 17 Capital Partners LLC purchased 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 Lowe’s Companies in the fourth quarter valued at approximately $235,000. 74.06% of the stock is owned by institutional investors and hedge funds.

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.