Wolfe Research Lowers Lowe’s Companies (NYSE:LOW) Price Target to $284.00

Lowe’s Companies (NYSE:LOW) had its target price dropped by research analysts at Wolfe Research from $285.00 to $284.00 in a report released on Wednesday,MarketScreener reports. The firm presently has an “outperform” rating on the home improvement retailer’s stock. Wolfe Research’s price objective indicates a potential upside of 2.15% from the company’s previous close.

Other equities analysts have also recently issued reports about the stock. HSBC cut their target price on shares of Lowe’s Companies from $285.00 to $263.00 and set a “hold” rating for the company in a research note on Friday, November 21st. Stifel Nicolaus upped their price objective on shares of Lowe’s Companies from $230.00 to $250.00 and gave the company a “hold” rating in a research report on Monday, December 1st. TD Cowen lifted their target price on Lowe’s Companies from $250.00 to $295.00 and gave the stock a “hold” rating in a research report on Tuesday, January 20th. Truist Financial set a $295.00 price target on Lowe’s Companies in a research note on Friday, January 16th. Finally, Mizuho reduced their price objective on Lowe’s Companies from $285.00 to $272.00 and set an “outperform” rating for the company in a research report on Thursday, November 20th. Nineteen research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $284.77.

Lowe’s Companies Stock Performance

NYSE LOW opened at $278.02 on Wednesday. The stock has a 50-day simple moving average of $257.24 and a 200 day simple moving average of $249.62. Lowe’s Companies has a twelve month low of $206.38 and a twelve month high of $281.36. The stock has a market capitalization of $155.96 billion, a PE ratio of 23.05, a P/E/G ratio of 4.30 and a beta of 0.97.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings results on Wednesday, November 26th. The home improvement retailer reported $3.06 EPS for the quarter, topping the consensus estimate of $2.97 by $0.09. Lowe’s Companies had a negative return on equity of 55.86% and a net margin of 8.05%.The company had revenue of $20.81 billion for the quarter, compared to the consensus estimate of $20.88 billion. During the same period in the previous year, the business posted $2.89 EPS. The company’s revenue for the quarter was up 3.2% on a year-over-year basis. As a group, equities research analysts forecast that Lowe’s Companies will post 11.9 EPS for the current fiscal year.

Insider Buying and Selling at Lowe’s Companies

In other news, CEO Marvin R. Ellison sold 18,000 shares of the company’s stock in a transaction that occurred on Friday, January 9th. The stock was sold at an average price of $261.17, for a total value of $4,701,060.00. Following the sale, the chief executive officer directly owned 231,043 shares in the company, valued at approximately $60,341,500.31. This represents a 7.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.27% of the company’s stock.

Institutional Trading of Lowe’s Companies

Institutional investors have recently bought and sold shares of the stock. Norges Bank acquired a new stake in shares of Lowe’s Companies in the 2nd quarter valued at $1,773,624,000. Wellington Management Group LLP lifted its holdings in Lowe’s Companies by 102.0% during the 3rd quarter. Wellington Management Group LLP now owns 4,204,311 shares of the home improvement retailer’s stock valued at $1,056,585,000 after purchasing an additional 2,122,622 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in Lowe’s Companies by 207.2% during the 3rd quarter. Victory Capital Management Inc. now owns 2,058,086 shares of the home improvement retailer’s stock valued at $517,218,000 after purchasing an additional 1,388,133 shares during the last quarter. Tableaux LLC acquired a new position in Lowe’s Companies in the second quarter valued at about $282,884,000. Finally, Laurel Wealth Advisors LLC grew its stake in Lowe’s Companies by 22,167.5% during the second quarter. Laurel Wealth Advisors LLC now owns 1,032,319 shares of the home improvement retailer’s stock worth $229,041,000 after buying an additional 1,027,683 shares during the last quarter. Institutional investors and hedge funds own 74.06% of the company’s stock.

About Lowe’s Companies

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.