Lowe’s Companies (NYSE:LOW) Price Target Cut to $250.00

Lowe’s Companies (NYSE:LOW) had its price objective decreased by equities researchers at Evercore ISI from $255.00 to $250.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has an “in-line” rating on the home improvement retailer’s stock. Evercore ISI’s price target suggests a potential upside of 15.01% from the company’s current price.

A number of other brokerages have also weighed in on LOW. Truist Financial raised their price objective on Lowe’s Companies from $258.00 to $271.00 and gave the company a “buy” rating in a report on Tuesday, April 2nd. StockNews.com downgraded Lowe’s Companies from a “buy” rating to a “hold” rating in a research note on Wednesday, February 28th. Wedbush raised their target price on Lowe’s Companies from $215.00 to $250.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 28th. DA Davidson reaffirmed a “neutral” rating and issued a $270.00 target price on shares of Lowe’s Companies in a research note on Wednesday, March 27th. Finally, Wells Fargo & Company raised their target price on Lowe’s Companies from $235.00 to $250.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 13th. Fourteen equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $251.33.

Lowe’s Companies Stock Performance

Shares of LOW stock opened at $217.38 on Wednesday. The stock’s fifty day moving average is $237.03 and its two-hundred day moving average is $224.66. The firm has a market capitalization of $124.38 billion, a P/E ratio of 17.46, a PEG ratio of 1.74 and a beta of 1.15. Lowe’s Companies has a fifty-two week low of $181.85 and a fifty-two week high of $262.49.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings data on Tuesday, May 21st. The home improvement retailer reported $3.06 earnings per share for the quarter, beating analysts’ consensus estimates of $2.94 by $0.12. The company had revenue of $21.36 billion for the quarter, compared to analyst estimates of $21.14 billion. Lowe’s Companies had a negative return on equity of 48.52% and a net margin of 8.46%. The firm’s revenue for the quarter was down 4.4% on a year-over-year basis. During the same quarter last year, the firm posted $3.67 EPS. On average, equities analysts forecast that Lowe’s Companies will post 12.21 earnings per share for the current year.

Hedge Funds Weigh In On Lowe’s Companies

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Wetzel Investment Advisors Inc. purchased a new position in shares of Lowe’s Companies in the 4th quarter valued at about $25,000. Tidemark LLC purchased a new position in shares of Lowe’s Companies in the 4th quarter valued at about $27,000. Voisard Asset Management Group Inc. purchased a new position in shares of Lowe’s Companies in the 4th quarter valued at about $28,000. Orion Capital Management LLC purchased a new position in shares of Lowe’s Companies in the 3rd quarter valued at about $26,000. Finally, Keener Financial Planning LLC purchased a new position in shares of Lowe’s Companies in the 1st quarter valued at about $35,000. Hedge funds and other institutional investors own 74.06% 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.