Lowe’s Companies (NYSE:LOW) Price Target Raised to $283.00

Lowe’s Companies (NYSE:LOW) had its price objective boosted by The Goldman Sachs Group from $280.00 to $283.00 in a research note published on Friday morning,MarketScreener reports. They currently have a buy rating on the home improvement retailer’s stock.

LOW has been the topic of several other research reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of Lowe’s Companies in a research note on Monday, December 29th. Jefferies Financial Group upped their price target on Lowe’s Companies from $280.00 to $285.00 and gave the company a “buy” rating in a research report on Friday, December 19th. Wolfe Research decreased their price objective on Lowe’s Companies from $285.00 to $284.00 and set an “outperform” rating for the company in a report on Wednesday, February 4th. Robert W. Baird lowered their price objective on Lowe’s Companies from $295.00 to $290.00 and set an “outperform” rating on the stock in a research note on Thursday, November 20th. Finally, Citigroup increased their target price on shares of Lowe’s Companies from $250.00 to $285.00 and gave the stock a “neutral” rating in a research report on Thursday. Twenty analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $287.22.

Lowe’s Companies Stock Performance

Shares of NYSE:LOW opened at $287.36 on Friday. The company’s 50-day moving average is $261.04 and its 200 day moving average is $251.90. The company has a market capitalization of $161.19 billion, a P/E ratio of 23.83, a price-to-earnings-growth ratio of 4.48 and a beta of 0.97. Lowe’s Companies has a fifty-two week low of $206.38 and a fifty-two week high of $293.06.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings data on Wednesday, November 26th. The home improvement retailer reported $3.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.97 by $0.09. The business had revenue of $20.81 billion during the quarter, compared to the consensus estimate of $20.88 billion. Lowe’s Companies had a net margin of 8.05% and a negative return on equity of 55.86%. The firm’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter last year, the company posted $2.89 earnings per share. As a group, research analysts predict that Lowe’s Companies will post 11.9 earnings per share for the current year.

Insiders Place Their Bets

In other Lowe’s Companies news, CEO Marvin R. Ellison sold 18,000 shares of the company’s stock in a transaction dated Friday, January 9th. The shares were sold at an average price of $261.17, for a total value of $4,701,060.00. Following the completion of the transaction, the chief executive officer owned 231,043 shares in the company, valued at approximately $60,341,500.31. This represents a 7.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.27% of the company’s stock.

Hedge Funds Weigh In On Lowe’s Companies

Several institutional investors and hedge funds have recently modified their holdings of LOW. Foresight Global Investors Inc. grew its holdings in Lowe’s Companies by 3.9% in the fourth quarter. Foresight Global Investors Inc. now owns 1,192 shares of the home improvement retailer’s stock valued at $287,000 after purchasing an additional 45 shares during the period. CreativeOne Wealth LLC lifted its holdings in Lowe’s Companies by 6.2% during the fourth quarter. CreativeOne Wealth LLC now owns 2,612 shares of the home improvement retailer’s stock valued at $630,000 after purchasing an additional 153 shares in the last quarter. Burton Enright Welch acquired a new stake in shares of Lowe’s Companies in the fourth quarter valued at about $201,000. Maverick Capital Ltd. raised its position in shares of Lowe’s Companies by 124.0% during the 4th quarter. Maverick Capital Ltd. now owns 8,316 shares of the home improvement retailer’s stock worth $2,005,000 after purchasing an additional 4,603 shares during the last quarter. Finally, Marshall Wace LLP lifted its stake in Lowe’s Companies by 15,991.8% in the 4th quarter. Marshall Wace LLP now owns 157,700 shares of the home improvement retailer’s stock valued at $38,031,000 after buying an additional 156,720 shares in the last quarter. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Company Profile

Lowe’s Companies, Inc is a leading home improvement retailer that operates large-format stores and digital channels serving both do-it-yourself homeowners and professional contractors. The company offers a broad assortment of products including building materials, lumber, appliances, tools and hardware, plumbing and electrical supplies, paint, flooring, kitchen and bath fixtures, outdoor and garden products, and home decor. Lowe’s also provides a range of services such as installation, home improvement financing, tool and equipment rental, and contractor-focused sales programs.

Operations are centered on a nationwide brick-and-mortar store network supported by distribution centers and an e-commerce platform that enables online ordering, delivery and in-store pickup.