Lowe’s Companies (NYSE:LOW) Price Target Cut to $235.00

Lowe’s Companies (NYSE:LOW) had its target price cut by analysts at Evercore ISI from $240.00 to $235.00 in a research report issued on Friday. The firm currently has an “in-line” rating on the home improvement retailer’s stock. Evercore ISI’s price objective suggests a potential upside of 1.60% from the stock’s current price.

A number of other equities research analysts also recently issued reports on the stock. Argus boosted their price target on shares of Lowe’s Companies from $250.00 to $260.00 in a research note on Wednesday, July 12th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $230.00 price objective (up from $225.00) on shares of Lowe’s Companies in a research note on Tuesday, August 22nd. Morgan Stanley increased their target price on Lowe’s Companies from $235.00 to $255.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 23rd. Wells Fargo & Company lifted their target price on Lowe’s Companies from $245.00 to $250.00 and gave the company an “overweight” rating in a research report on Wednesday, August 23rd. Finally, StockNews.com upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a report on Thursday, August 24th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, Lowe’s Companies has a consensus rating of “Hold” and a consensus target price of $237.48.

Lowe’s Companies Stock Performance

LOW opened at $231.29 on Friday. The company has a fifty day moving average of $227.45 and a two-hundred day moving average of $212.67. The stock has a market capitalization of $133.48 billion, a price-to-earnings ratio of 22.76, a PEG ratio of 1.52 and a beta of 1.09. Lowe’s Companies has a fifty-two week low of $176.50 and a fifty-two week high of $237.21.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings data on Tuesday, August 22nd. The home improvement retailer reported $4.56 earnings per share for the quarter, topping analysts’ consensus estimates of $4.49 by $0.07. The company had revenue of $24.96 billion during the quarter, compared to analysts’ expectations of $24.97 billion. Lowe’s Companies had a net margin of 6.48% and a negative return on equity of 58.56%. The firm’s revenue for the quarter was down 9.2% on a year-over-year basis. During the same period in the prior year, the business posted $4.67 earnings per share. On average, equities research analysts forecast that Lowe’s Companies will post 13.45 earnings per share for the current year.

Insider Activity

In other news, EVP Janice Dupre sold 5,380 shares of Lowe’s Companies stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $231.28, for a total transaction of $1,244,286.40. Following the completion of the transaction, the executive vice president now directly owns 24,216 shares in the company, valued at approximately $5,600,676.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Janice Dupre sold 5,380 shares of the company’s stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $231.28, for a total value of $1,244,286.40. Following the transaction, the executive vice president now owns 24,216 shares of the company’s stock, valued at $5,600,676.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Joseph Michael Mcfarland sold 4,500 shares of the company’s stock in a transaction on Monday, August 28th. The shares were sold at an average price of $222.53, for a total value of $1,001,385.00. Following the completion of the transaction, the executive vice president now directly owns 46,594 shares in the company, valued at $10,368,562.82. The disclosure for this sale can be found here. Insiders own 0.26% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Valley National Advisers Inc. grew its position in shares of Lowe’s Companies by 6.6% in the 1st quarter. Valley National Advisers Inc. now owns 9,769 shares of the home improvement retailer’s stock valued at $2,062,000 after buying an additional 606 shares during the last quarter. Rainsberger Wealth Advisors Inc. raised its holdings in Lowe’s Companies by 9.2% during the 1st quarter. Rainsberger Wealth Advisors Inc. now owns 8,993 shares of the home improvement retailer’s stock worth $1,798,000 after purchasing an additional 760 shares during the last quarter. Transform Wealth LLC lifted its position in shares of Lowe’s Companies by 0.3% in the 1st quarter. Transform Wealth LLC now owns 16,932 shares of the home improvement retailer’s stock worth $3,386,000 after purchasing an additional 51 shares during the period. CoreCap Advisors LLC boosted its stake in shares of Lowe’s Companies by 5.0% in the 4th quarter. CoreCap Advisors LLC now owns 8,152 shares of the home improvement retailer’s stock valued at $1,624,000 after purchasing an additional 389 shares during the last quarter. Finally, Park Avenue Securities LLC increased its position in shares of Lowe’s Companies by 3.8% during the first quarter. Park Avenue Securities LLC now owns 12,381 shares of the home improvement retailer’s stock worth $2,476,000 after buying an additional 456 shares during the period. Institutional investors own 71.88% of the company’s stock.

Lowe’s Companies Company Profile

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.