Wells Fargo & Company Has Lowered Expectations for Lowe’s Companies (NYSE:LOW) Stock Price

Lowe’s Companies (NYSE:LOW) had its target price cut by stock analysts at Wells Fargo & Company from $290.00 to $280.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the home improvement retailer’s stock. Wells Fargo & Company‘s target price would indicate a potential upside of 19.27% from the company’s previous close.

LOW has been the subject of a number of other research reports. Wolfe Research initiated coverage on Lowe’s Companies in a research report on Wednesday, September 17th. They set an “outperform” rating for the company. KeyCorp raised their target price on Lowe’s Companies from $266.00 to $300.00 and gave the company an “overweight” rating in a research note on Thursday, August 21st. Mizuho upped their price target on shares of Lowe’s Companies from $280.00 to $285.00 and gave the stock an “outperform” rating in a research report on Friday, August 29th. Evercore ISI dropped their price objective on shares of Lowe’s Companies from $250.00 to $245.00 and set an “in-line” rating on the stock in a report on Tuesday, October 14th. Finally, Sanford C. Bernstein boosted their target price on shares of Lowe’s Companies from $279.00 to $282.00 and gave the company an “outperform” rating in a research note on Friday, November 7th. Sixteen research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Lowe’s Companies presently has a consensus rating of “Moderate Buy” and an average target price of $280.50.

Lowe’s Companies Stock Down 0.2%

Shares of NYSE:LOW opened at $234.75 on Tuesday. The company has a market cap of $131.65 billion, a PE ratio of 19.29, a P/E/G ratio of 2.21 and a beta of 0.87. Lowe’s Companies has a fifty-two week low of $206.38 and a fifty-two week high of $280.64. The firm has a 50-day simple moving average of $249.17 and a 200 day simple moving average of $237.29.

Lowe’s Companies (NYSE:LOW) last issued its earnings results on Wednesday, August 20th. The home improvement retailer reported $4.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.24 by $0.09. The firm had revenue of $23.96 billion for the quarter, compared to analysts’ expectations of $23.99 billion. Lowe’s Companies had a net margin of 8.20% and a negative return on equity of 52.02%. Lowe’s Companies’s revenue was up 1.6% on a year-over-year basis. During the same quarter last year, the company posted $4.10 earnings per share. Lowe’s Companies has set its FY 2025 guidance at 12.200-12.450 EPS. As a group, research analysts forecast that Lowe’s Companies will post 11.9 EPS for the current fiscal year.

Insider Activity at Lowe’s Companies

In related news, EVP Brandon J. Sink sold 8,192 shares of the stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $268.58, for a total value of $2,200,207.36. Following the completion of the transaction, the executive vice president owned 21,603 shares in the company, valued at $5,802,133.74. This represents a 27.49% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Marvin R. Ellison sold 40,000 shares of the business’s stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $264.10, for a total transaction of $10,564,000.00. Following the sale, the chief executive officer owned 249,043 shares in the company, valued at $65,772,256.30. This trade represents a 13.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 92,931 shares of company stock worth $24,945,752. 0.27% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Lowe’s Companies

A number of institutional investors have recently added to or reduced their stakes in the company. Brighton Jones LLC boosted its stake in Lowe’s Companies by 119.7% during the fourth quarter. Brighton Jones LLC now owns 31,965 shares of the home improvement retailer’s stock valued at $7,889,000 after buying an additional 17,413 shares in the last quarter. Revolve Wealth Partners LLC lifted its holdings in Lowe’s Companies by 31.6% in the 4th quarter. Revolve Wealth Partners LLC now owns 1,078 shares of the home improvement retailer’s stock valued at $266,000 after acquiring an additional 259 shares during the last quarter. Bleakley Financial Group LLC lifted its holdings in Lowe’s Companies by 1.5% in the 1st quarter. Bleakley Financial Group LLC now owns 11,056 shares of the home improvement retailer’s stock valued at $2,579,000 after acquiring an additional 167 shares during the last quarter. Sigma Planning Corp boosted its position in shares of Lowe’s Companies by 3.9% during the 1st quarter. Sigma Planning Corp now owns 17,983 shares of the home improvement retailer’s stock valued at $4,194,000 after purchasing an additional 680 shares in the last quarter. Finally, Bogart Wealth LLC grew its stake in shares of Lowe’s Companies by 3.3% in the 1st quarter. Bogart Wealth LLC now owns 1,805 shares of the home improvement retailer’s stock worth $421,000 after purchasing an additional 58 shares during the last quarter. 74.06% of the stock is currently owned by institutional investors and hedge funds.

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.