Wolfe Research Issues Pessimistic Forecast for Lowe’s Companies (NYSE:LOW) Stock Price

Lowe’s Companies (NYSE:LOW) had its target price reduced by Wolfe Research from $285.00 to $284.00 in a research note issued on Wednesday,MarketScreener reports. The brokerage presently has an “outperform” rating on the home improvement retailer’s stock. Wolfe Research’s price target would suggest a potential upside of 2.15% from the company’s previous close.

A number of other analysts also recently commented on the stock. Mizuho dropped their price target on shares of Lowe’s Companies from $285.00 to $272.00 and set an “outperform” rating on the stock in a research report on Thursday, November 20th. Wells Fargo & Company dropped their target price on Lowe’s Companies from $290.00 to $280.00 and set an “overweight” rating on the stock in a report on Tuesday, November 11th. Gordon Haskett upgraded Lowe’s Companies from a “hold” rating to a “buy” rating and set a $325.00 target price for the company in a research report on Tuesday, January 13th. Evercore lifted their price target on Lowe’s Companies from $250.00 to $280.00 in a research report on Tuesday, January 27th. Finally, Morgan Stanley boosted their price objective on Lowe’s Companies from $270.00 to $296.00 and gave the stock an “overweight” rating in a research note on Thursday, January 15th. Nineteen equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Lowe’s Companies has an average rating of “Moderate Buy” and an average price target of $284.77.

Lowe’s Companies Stock Performance

Shares of LOW stock opened at $278.02 on Wednesday. Lowe’s Companies has a 1 year low of $206.38 and a 1 year high of $281.36. The firm has a market capitalization of $155.96 billion, a PE ratio of 23.05, a price-to-earnings-growth ratio of 4.30 and a beta of 0.97. The stock has a fifty day moving average of $257.24 and a two-hundred day moving average of $249.62.

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

Insider Activity at Lowe’s Companies

In related news, CEO Marvin R. Ellison sold 18,000 shares of the stock in a transaction on Friday, January 9th. The stock was 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 $60,341,500.31. This trade represents a 7.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.27% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Maj Invest Holding A S lifted its position in shares of Lowe’s Companies by 15.7% in the third quarter. Maj Invest Holding A S now owns 802,990 shares of the home improvement retailer’s stock worth $201,801,000 after buying an additional 108,813 shares during the last quarter. Bridges Investment Management Inc. lifted its holdings in Lowe’s Companies by 13.4% in the 3rd quarter. Bridges Investment Management Inc. now owns 420,832 shares of the home improvement retailer’s stock worth $105,759,000 after purchasing an additional 49,858 shares during the last quarter. Facet Wealth Inc. acquired a new position in Lowe’s Companies during the third quarter valued at approximately $558,000. Prudential Financial Inc. raised its position in shares of Lowe’s Companies by 0.7% in the second quarter. Prudential Financial Inc. now owns 826,356 shares of the home improvement retailer’s stock valued at $183,344,000 after purchasing an additional 5,820 shares during the period. Finally, Jennison Associates LLC lifted its stake in shares of Lowe’s Companies by 22.0% in the second quarter. Jennison Associates LLC now owns 497,628 shares of the home improvement retailer’s stock worth $110,409,000 after buying an additional 89,839 shares during the last quarter. 74.06% of the stock is currently owned by institutional investors and hedge funds.

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.