Royal Bank of Canada Issues Positive Forecast for Lowe’s Companies (NYSE:LOW) Stock Price

Lowe’s Companies (NYSE:LOW) had its price target increased by stock analysts at Royal Bank of Canada from $290.00 to $291.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a “sector perform” rating on the home improvement retailer’s stock. Royal Bank of Canada’s price target suggests a potential upside of 9.60% from the company’s previous close.

A number of other equities analysts have also weighed in on LOW. Sanford C. Bernstein began coverage on Lowe’s Companies in a research report on Tuesday, October 22nd. They issued an “outperform” rating and a $323.00 target price for the company. UBS Group upped their target price on shares of Lowe’s Companies from $270.00 to $290.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Piper Sandler upped their target price on shares of Lowe’s Companies from $262.00 to $307.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. Morgan Stanley upped their target price on shares of Lowe’s Companies from $250.00 to $255.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Finally, Oppenheimer upgraded shares of Lowe’s Companies from a “market perform” rating to an “outperform” rating and upped their target price for the company from $230.00 to $305.00 in a research note on Tuesday, September 24th. Ten research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $277.92.

Lowe’s Companies Stock Up 0.9 %

NYSE:LOW opened at $265.50 on Wednesday. The stock has a market cap of $150.62 billion, a P/E ratio of 22.14, a price-to-earnings-growth ratio of 2.15 and a beta of 1.10. The firm’s fifty day simple moving average is $268.56 and its 200 day simple moving average is $244.50. Lowe’s Companies has a twelve month low of $196.23 and a twelve month high of $287.01.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings data on Tuesday, August 20th. The home improvement retailer reported $4.10 EPS for the quarter, beating the consensus estimate 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 47.55% and a net margin of 8.19%. The company’s revenue for the quarter was down 5.5% on a year-over-year basis. During the same quarter last year, the firm posted $4.56 earnings per share. On average, analysts expect that Lowe’s Companies will post 11.82 EPS for the current fiscal year.

Insider Transactions at Lowe’s Companies

In related news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $248.82, for a total transaction of $1,684,262.58. Following the completion of the sale, the chief accounting officer now directly owns 9,383 shares in the company, valued at approximately $2,334,678.06. This trade represents a 41.91 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Margrethe R. Vagell sold 5,730 shares of the stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $271.45, for a total value of $1,555,408.50. Following the sale, the executive vice president now owns 13,214 shares of the company’s stock, valued at approximately $3,586,940.30. This represents a 30.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.26% of the company’s stock.

Institutional Investors Weigh In On Lowe’s Companies

A number of institutional investors have recently added to or reduced their stakes in the company. Crew Capital Management Ltd. grew its position in Lowe’s Companies by 1.0% during the third quarter. Crew Capital Management Ltd. now owns 3,873 shares of the home improvement retailer’s stock worth $1,049,000 after buying an additional 37 shares in the last quarter. Summit Place Financial Advisors LLC raised its position in Lowe’s Companies by 2.8% in the 3rd quarter. Summit Place Financial Advisors LLC now owns 1,375 shares of the home improvement retailer’s stock worth $372,000 after purchasing an additional 37 shares during the last quarter. Clean Yield Group raised its position in Lowe’s Companies by 2.4% in the 3rd quarter. Clean Yield Group now owns 1,599 shares of the home improvement retailer’s stock worth $433,000 after purchasing an additional 38 shares during the last quarter. Mitchell Mcleod Pugh & Williams Inc. grew its holdings in Lowe’s Companies by 0.5% during the 3rd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 7,460 shares of the home improvement retailer’s stock worth $2,021,000 after acquiring an additional 40 shares during the period. Finally, Drive Wealth Management LLC grew its holdings in Lowe’s Companies by 2.2% during the 2nd quarter. Drive Wealth Management LLC now owns 1,894 shares of the home improvement retailer’s stock worth $418,000 after acquiring an additional 41 shares during the period. 74.06% of the stock is 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.