Lowe’s Companies (NYSE:LOW – Get Rating) had its price objective dropped by equities research analysts at Wells Fargo & Company from $260.00 to $240.00 in a research report issued on Wednesday, Stock Target Advisor reports. The firm currently has an “overweight” rating on the home improvement retailer’s stock. Wells Fargo & Company‘s price target would indicate a potential upside of 24.11% from the stock’s previous close.
Several other equities analysts also recently issued reports on LOW. Loop Capital cut their target price on Lowe’s Companies from $240.00 to $190.00 in a research report on Tuesday, April 12th. Piper Sandler upped their target price on Lowe’s Companies to $246.00 and gave the company an “underweight” rating in a research report on Thursday, May 19th. UBS Group cut their target price on Lowe’s Companies from $250.00 to $240.00 and set a “buy” rating on the stock in a research report on Thursday, May 19th. Truist Financial cut their price target on Lowe’s Companies from $283.00 to $237.00 and set a “buy” rating on the stock in a research report on Thursday, May 19th. Finally, Telsey Advisory Group increased their price target on Lowe’s Companies from $275.00 to $285.00 and gave the stock an “outperform” rating in a research report on Thursday, February 24th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $242.79.
This could be one of the best stocks to consider during this bear market run.
Shares of LOW stock traded down $2.28 during trading hours on Wednesday, reaching $193.37. 53,220 shares of the company’s stock were exchanged, compared to its average volume of 4,061,721. The stock’s 50 day moving average is $197.94 and its 200-day moving average is $223.90. The company has a market cap of $123.59 billion, a price-to-earnings ratio of 15.76, a P/E/G ratio of 1.16 and a beta of 1.25. Lowe’s Companies has a fifty-two week low of $179.22 and a fifty-two week high of $263.31.
Lowe’s Companies (NYSE:LOW – Get Rating) last issued its quarterly earnings results on Wednesday, May 18th. The home improvement retailer reported $3.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.22 by $0.29. Lowe’s Companies had a negative return on equity of 251.50% and a net margin of 8.85%. The business had revenue of $23.66 billion for the quarter, compared to the consensus estimate of $23.72 billion. During the same period in the prior year, the firm posted $3.21 earnings per share. The business’s quarterly revenue was down 3.1% on a year-over-year basis. On average, equities research analysts forecast that Lowe’s Companies will post 13.49 EPS for the current fiscal year.
Institutional investors have recently modified their holdings of the stock. Carlson Capital Management purchased a new position in Lowe’s Companies in the 4th quarter valued at about $303,000. Aries Wealth Management lifted its stake in Lowe’s Companies by 573.5% in the 4th quarter. Aries Wealth Management now owns 33,474 shares of the home improvement retailer’s stock valued at $8,652,000 after buying an additional 28,504 shares in the last quarter. Sand Hill Global Advisors LLC lifted its stake in Lowe’s Companies by 22.0% in the 4th quarter. Sand Hill Global Advisors LLC now owns 1,358 shares of the home improvement retailer’s stock valued at $351,000 after buying an additional 245 shares in the last quarter. Pinnacle Associates Ltd. lifted its stake in Lowe’s Companies by 0.6% in the 4th quarter. Pinnacle Associates Ltd. now owns 40,078 shares of the home improvement retailer’s stock valued at $10,359,000 after buying an additional 249 shares in the last quarter. Finally, Connecticut Wealth Management LLC purchased a new position in Lowe’s Companies in the 4th quarter valued at about $245,000. 75.46% of the stock is currently owned by hedge funds and other institutional investors.
About Lowe’s Companies (Get Rating)
Lowe’s Cos., Inc engages in the retail sale of home improvement products. The firm offers products for maintenance, repair, remodeling, home decorating and property maintenance. It also provides home improvement products in the following categories: appliances, bathroom, building supply, electrical, flooring, hardware, paint, kitchen, plumbing, lighting & fans, outdoor living, windows and doors.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected]
Should you invest $1,000 in Lowe’s Companies right now?
Before you consider Lowe’s Companies, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Lowe’s Companies wasn’t on the list.
While Lowe’s Companies currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
View The 5 Stocks Here