Lowe’s Companies (NYSE:LOW) PT Lowered to $220.00

Posted by on Aug 5th, 2022

Lowe’s Companies (NYSE:LOW – Get Rating) had its target price lowered by equities researchers at Wells Fargo & Company from $240.00 to $220.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the home improvement retailer’s stock. Wells Fargo & Company‘s price target points to a potential upside of 11.58% from the company’s current price.

Several other equities research analysts also recently issued reports on LOW. Jefferies Financial Group lowered their price objective on shares of Lowe’s Companies from $290.00 to $238.00 and set a “buy” rating on the stock in a research note on Thursday, May 19th. StockNews.com upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a research note on Thursday, July 28th. MKM Partners began coverage on shares of Lowe’s Companies in a research note on Thursday, June 23rd. They issued a “neutral” rating and a $190.00 price objective on the stock. Wedbush reduced their target price on Lowe’s Companies from $240.00 to $200.00 and set a “neutral” rating for the company in a research report on Thursday, May 19th. Finally, Piper Sandler raised their target price on Lowe’s Companies to $246.00 and gave the stock an “underweight” rating in a research report on Thursday, May 19th. One analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $238.58.

Lowe’s Companies Stock Up 0.9 %

Shares of LOW stock opened at $197.16 on Wednesday. Lowe’s Companies has a 12 month low of $170.12 and a 12 month high of $263.31. The business’s 50 day moving average is $185.72 and its two-hundred day moving average is $204.16. The company has a market cap of $126.01 billion, a PE ratio of 16.07, a price-to-earnings-growth ratio of 1.18 and a beta of 1.25.

Lowe’s Companies (NYSE:LOW – Get Rating) last announced its quarterly earnings results on Wednesday, May 18th. The home improvement retailer reported $3.51 EPS for the quarter, beating the consensus estimate of $3.24 by $0.27. Lowe’s Companies had a negative return on equity of 251.50% and a net margin of 8.85%. The company had revenue of $23.66 billion for the quarter, compared to the consensus estimate of $23.72 billion. During the same quarter last year, the company posted $3.21 earnings per share. The company’s revenue for the quarter was down 3.1% compared to the same quarter last year. As a group, equities analysts expect that Lowe’s Companies will post 13.44 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Buckley Wealth Management LLC raised its holdings in shares of Lowe’s Companies by 2.5% in the second quarter. Buckley Wealth Management LLC now owns 12,614 shares of the home improvement retailer’s stock valued at $2,203,000 after buying an additional 308 shares during the last quarter. tru Independence LLC increased its position in Lowe’s Companies by 3.4% in the second quarter. tru Independence LLC now owns 1,727 shares of the home improvement retailer’s stock worth $302,000 after purchasing an additional 57 shares during the period. Glassman Wealth Services increased its position in Lowe’s Companies by 17.2% in the second quarter. Glassman Wealth Services now owns 2,762 shares of the home improvement retailer’s stock worth $482,000 after purchasing an additional 406 shares during the period. NovaPoint Capital LLC increased its position in Lowe’s Companies by 4.5% in the second quarter. NovaPoint Capital LLC now owns 6,366 shares of the home improvement retailer’s stock worth $1,112,000 after purchasing an additional 272 shares during the period. Finally, BHK Investment Advisors LLC increased its position in Lowe’s Companies by 12.6% in the second quarter. BHK Investment Advisors LLC now owns 2,766 shares of the home improvement retailer’s stock worth $483,000 after purchasing an additional 310 shares during the period. 75.46% of the stock is owned by institutional investors.

About Lowe’s Companies

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Lowe's Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States and internationally. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It 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, lighting, and electrical.

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