Telsey Advisory Group Lowers Lowe’s Companies (NYSE:LOW) Price Target to $225.00

Lowe’s Companies (NYSE:LOW – Get Rating) had its target price lowered by analysts at Telsey Advisory Group from $235.00 to $225.00 in a research note issued to investors on Wednesday, Briefing.com reports. The brokerage currently has an “outperform” rating on the home improvement retailer’s stock. Telsey Advisory Group’s price target indicates a potential upside of 7.57% from the stock’s previous close. Telsey Advisory Group also issued estimates for Lowe’s Companies’ Q1 2024 earnings at $3.42 EPS, Q4 2024 earnings at $2.06 EPS and FY2025 earnings at $14.55 EPS.

Other equities research analysts also recently issued research reports about the company. Roth Capital reaffirmed a “neutral” rating on shares of Lowe’s Companies in a research report on Wednesday, March 1st. TD Cowen decreased their price target on Lowe’s Companies from $220.00 to $210.00 and set a “market perform” rating for the company in a report on Thursday, March 2nd. Loop Capital lifted their price objective on shares of Lowe’s Companies from $200.00 to $205.00 and gave the company a “hold” rating in a research note on Tuesday, March 21st. Truist Financial decreased their target price on shares of Lowe’s Companies from $258.00 to $235.00 in a research note on Thursday, March 2nd. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $235.00 price target on shares of Lowe’s Companies in a report on Monday, February 13th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $223.08.

Lowe’s Companies Stock Performance

LOW opened at $209.16 on Wednesday. Lowe’s Companies has a 1 year low of $170.12 and a 1 year high of $223.31. The firm has a 50 day moving average price of $201.29 and a 200 day moving average price of $203.60. The company has a market cap of $124.73 billion, a PE ratio of 20.90, a price-to-earnings-growth ratio of 1.16 and a beta of 1.09.

Lowe’s Companies (NYSE:LOW – Get Rating) last released its quarterly earnings data on Wednesday, March 1st. The home improvement retailer reported $2.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.21 by $0.07. Lowe’s Companies had a net margin of 6.63% and a negative return on equity of 82.30%. The company had revenue of $22.40 billion during the quarter, compared to the consensus estimate of $22.71 billion. During the same period in the previous year, the firm earned $1.78 earnings per share. Lowe’s Companies’s revenue for the quarter was up 5.0% on a year-over-year basis. On average, sell-side analysts predict that Lowe’s Companies will post 13.71 earnings per share for the current year.

Insider Activity

In related news, EVP Donald Frieson sold 9,411 shares of Lowe’s Companies stock in a transaction dated Wednesday, March 15th. The shares were sold at an average price of $197.00, for a total value of $1,853,967.00. Following the sale, the executive vice president now directly owns 17,888 shares in the company, valued at approximately $3,523,936. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.26% of the company’s stock.

Hedge Funds Weigh In On Lowe’s Companies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in Lowe’s Companies during the fourth quarter worth about $1,461,267,000. Moneta Group Investment Advisors LLC boosted its holdings in shares of Lowe’s Companies by 107,710.7% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 5,080,039 shares of the home improvement retailer’s stock worth $1,012,147,000 after acquiring an additional 5,075,327 shares in the last quarter. Providence Capital Advisors LLC boosted its holdings in shares of Lowe’s Companies by 19,964.5% in the 1st quarter. Providence Capital Advisors LLC now owns 4,520,122 shares of the home improvement retailer’s stock worth $22,604,000 after acquiring an additional 4,497,594 shares in the last quarter. Macquarie Group Ltd. lifted its position in Lowe’s Companies by 450.8% during the 1st quarter. Macquarie Group Ltd. now owns 2,556,364 shares of the home improvement retailer’s stock worth $511,196,000 after buying an additional 2,092,245 shares in the last quarter. Finally, Morgan Stanley lifted its holdings in Lowe’s Companies by 21.3% during the 4th quarter. Morgan Stanley now owns 11,690,606 shares of the home improvement retailer’s stock worth $2,329,237,000 after buying an additional 2,050,089 shares in the last quarter. Institutional investors and hedge funds own 72.62% of the company’s stock.

Lowe’s Companies Company Profile

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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.