Lowe’s Companies (NYSE:LOW) Price Target Lowered to $275.00 at Bank of America

Lowe’s Companies (NYSE:LOW) had its price objective cut by stock analysts at Bank of America from $280.00 to $275.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the home improvement retailer’s stock. Bank of America‘s price objective would indicate a potential upside of 13.76% from the stock’s previous close.

Other research analysts have also recently issued reports about the stock. Wedbush reissued a “neutral” rating and set a $250.00 target price on shares of Lowe’s Companies in a research report on Wednesday. Evercore ISI boosted their price objective on shares of Lowe’s Companies from $225.00 to $250.00 and gave the stock an “in-line” rating in a report on Wednesday. Telsey Advisory Group restated a “market perform” rating and set a $230.00 target price on shares of Lowe’s Companies in a research note on Tuesday. DA Davidson dropped their target price on Lowe’s Companies from $270.00 to $240.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 22nd. Finally, Truist Financial increased their price target on Lowe’s Companies from $265.00 to $269.00 and gave the company a “buy” rating in a report on Wednesday. Fourteen analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $251.81.

Lowe’s Companies Stock Performance

Lowe’s Companies stock traded up $1.41 during trading on Wednesday, reaching $241.74. 361,987 shares of the company’s stock were exchanged, compared to its average volume of 2,525,774. The company’s 50-day moving average is $230.83 and its two-hundred day moving average is $232.19. Lowe’s Companies has a 52-week low of $181.85 and a 52-week high of $262.49. The firm has a market cap of $137.75 billion, a price-to-earnings ratio of 19.42, a PEG ratio of 1.85 and a beta of 1.07.

Lowe’s Companies (NYSE:LOW) last posted its earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.96 by $0.14. The business had revenue of $23.59 billion during the quarter, compared to analyst estimates of $23.93 billion. Lowe’s Companies had a negative return on equity of 48.52% and a net margin of 8.46%. The company’s revenue for the quarter was down 5.5% compared to the same quarter last year. During the same quarter last year, the firm earned $4.56 earnings per share. Analysts anticipate that Lowe’s Companies will post 12.23 EPS for the current year.

Institutional Trading of Lowe’s Companies

Several large investors have recently added to or reduced their stakes in LOW. Tidemark LLC acquired a new position in shares of Lowe’s Companies in the 4th quarter worth approximately $27,000. Voisard Asset Management Group Inc. bought a new stake in Lowe’s Companies during the fourth quarter worth approximately $28,000. Transcendent Capital Group LLC bought a new stake in Lowe’s Companies during the fourth quarter worth approximately $31,000. Stephens Consulting LLC grew its position in Lowe’s Companies by 93.3% in the second quarter. Stephens Consulting LLC now owns 145 shares of the home improvement retailer’s stock worth $32,000 after buying an additional 70 shares during the last quarter. Finally, Pacific Capital Wealth Advisors Inc. bought a new position in shares of Lowe’s Companies in the fourth quarter valued at $33,000. 74.06% of the stock is currently owned by institutional investors and hedge funds.

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.