Lowe’s Companies (NYSE:LOW) Price Target Cut to $230.00

Lowe’s Companies (NYSE:LOW – Get Rating) had its price objective decreased by equities research analysts at Piper Sandler from $235.00 to $230.00 in a research note issued to investors on Wednesday, The Fly reports. Piper Sandler’s price target would indicate a potential upside of 14.41% from the stock’s previous close.

LOW has been the topic of a number of other reports. Roth Capital reissued a “neutral” rating on shares of Lowe’s Companies in a report on Wednesday, March 1st. TD Cowen lowered their price target on Lowe’s Companies from $220.00 to $210.00 and set a “market perform” rating on the stock in a research report on Thursday, March 2nd. Loop Capital raised their target price on Lowe’s Companies from $200.00 to $205.00 and gave the company a “hold” rating in a research report on Tuesday, March 21st. Truist Financial decreased their target price on Lowe’s Companies from $235.00 to $229.00 in a research report on Wednesday. Finally, Telsey Advisory Group reduced their price objective on Lowe’s Companies from $235.00 to $225.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 17th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $222.23.

Lowe’s Companies Price Performance

Shares of NYSE:LOW opened at $201.04 on Wednesday. The business’s 50-day moving average is $201.92 and its 200 day moving average is $204.19. Lowe’s Companies has a 1 year low of $170.12 and a 1 year high of $223.31. The firm has a market capitalization of $119.89 billion, a P/E ratio of 19.58, a P/E/G ratio of 1.23 and a beta of 1.09.

Lowe’s Companies (NYSE:LOW – Get Rating) last announced its earnings results on Tuesday, May 23rd. The home improvement retailer reported $3.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.48 by $0.19. The company had revenue of $22.35 billion for the quarter, compared to analyst estimates of $21.68 billion. Lowe’s Companies had a negative return on equity of 68.42% and a net margin of 6.65%. The firm’s quarterly revenue was down 5.5% compared to the same quarter last year. During the same period in the prior year, the company posted $3.51 EPS. On average, analysts expect that Lowe’s Companies will post 13.48 EPS for the current year.

Insider Activity

In other news, EVP Donald Frieson sold 9,411 shares of the business’s stock in a transaction that occurred on Wednesday, March 15th. The stock was sold at an average price of $197.00, for a total transaction of $1,853,967.00. Following the completion of the transaction, the executive vice president now directly owns 17,888 shares in the company, valued at $3,523,936. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 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. Empower Advisory Group LLC acquired a new stake in Lowe’s Companies in the first quarter worth approximately $34,123,000. Old North State Trust LLC lifted its position in shares of Lowe’s Companies by 12.3% during the 1st quarter. Old North State Trust LLC now owns 1,102 shares of the home improvement retailer’s stock valued at $220,000 after acquiring an additional 121 shares during the last quarter. 3Chopt Investment Partners LLC acquired a new stake in shares of Lowe’s Companies during the 1st quarter valued at $469,000. Arete Wealth Advisors LLC acquired a new stake in shares of Lowe’s Companies during the 1st quarter valued at $1,064,000. Finally, Ameriprise Financial Inc. lifted its position in shares of Lowe’s Companies by 0.9% during the 1st quarter. Ameriprise Financial Inc. now owns 3,734,142 shares of the home improvement retailer’s stock valued at $740,949,000 after acquiring an additional 32,129 shares during the last quarter. 72.62% of the stock is currently owned by institutional investors and hedge funds.

Lowe’s Companies Company Profile

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Lowe’s Cos., Inc engages in the retail sale of home improvement products. The firm offers products for maintenance, repair, remodeling, home decorating and property maintenance. It also provides home improvement products in the following categories: appliances, bathroom, building supply, electrical, flooring, hardware, paint, kitchen, plumbing, lighting & fans, outdoor living, windows and doors.