Lowe’s Companies (NYSE:LOW – Get Free Report) had its target price hoisted by equities researchers at Wells Fargo & Company from $235.00 to $250.00 in a research report issued on Tuesday, Benzinga reports. The firm currently has an “overweight” rating on the home improvement retailer’s stock. Wells Fargo & Company’s target price would suggest a potential upside of 10.87% from the company’s current price.
A number of other research firms have also recently issued reports on LOW. UBS Group decreased their target price on Lowe’s Companies from $265.00 to $240.00 and set a “buy” rating on the stock in a research report on Wednesday, November 22nd. Oppenheimer cut Lowe’s Companies from an “outperform” rating to a “market perform” rating in a research report on Monday, January 22nd. Evercore ISI upped their target price on Lowe’s Companies from $205.00 to $210.00 and gave the stock an “in-line” rating in a research note on Wednesday, November 22nd. Royal Bank of Canada decreased their price target on Lowe’s Companies from $194.00 to $190.00 and set a “sector perform” rating on the stock in a research note on Monday, November 27th. Finally, JPMorgan Chase & Co. upgraded Lowe’s Companies from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $210.00 to $265.00 in a research report on Monday. Twelve investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, Lowe’s Companies currently has a consensus rating of “Moderate Buy” and a consensus target price of $242.75.
Lowe’s Companies Price Performance
Shares of LOW traded down $4.37 during mid-day trading on Tuesday, hitting $225.49. The company’s stock had a trading volume of 1,569,861 shares, compared to its average volume of 2,575,937. The stock has a market capitalization of $129.68 billion, a price-to-earnings ratio of 17.39, a PEG ratio of 1.59 and a beta of 1.12. The firm has a 50-day moving average price of $217.78 and a 200 day moving average price of $212.74. Lowe’s Companies has a fifty-two week low of $181.85 and a fifty-two week high of $237.21.
Lowe’s Companies (NYSE:LOW – Get Free Report) last announced its quarterly earnings results on Tuesday, November 21st. The home improvement retailer reported $3.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.03 by $0.03. Lowe’s Companies had a net margin of 8.49% and a negative return on equity of 54.56%. The firm had revenue of $20.74 billion for the quarter, compared to analyst estimates of $20.87 billion. During the same quarter in the previous year, the firm posted $3.27 EPS. The business’s revenue for the quarter was down 11.7% on a year-over-year basis. As a group, equities analysts anticipate that Lowe’s Companies will post 13.02 EPS for the current fiscal year.
Hedge Funds Weigh In On Lowe’s Companies
Several institutional investors and hedge funds have recently modified their holdings of LOW. State Street Corp boosted its holdings in shares of Lowe’s Companies by 1.5% during the 2nd quarter. State Street Corp now owns 25,223,923 shares of the home improvement retailer’s stock worth $5,693,039,000 after purchasing an additional 374,457 shares during the last quarter. Morgan Stanley boosted its stake in Lowe’s Companies by 21.3% in the fourth quarter. Morgan Stanley now owns 11,690,606 shares of the home improvement retailer’s stock valued at $2,329,237,000 after acquiring an additional 2,050,089 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Lowe’s Companies by 1.2% during the second quarter. Geode Capital Management LLC now owns 10,992,637 shares of the home improvement retailer’s stock worth $2,474,841,000 after buying an additional 135,510 shares during the period. Norges Bank purchased a new position in Lowe’s Companies during the fourth quarter worth about $1,638,746,000. Finally, Northern Trust Corp increased its holdings in Lowe’s Companies by 1.1% in the third quarter. Northern Trust Corp now owns 7,138,824 shares of the home improvement retailer’s stock valued at $1,483,733,000 after buying an additional 78,901 shares in the last quarter. Hedge funds and other institutional investors own 71.88% of the company’s stock.
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.