Lowe’s Companies (NYSE:LOW) Given New $283.00 Price Target at The Goldman Sachs Group

Lowe’s Companies (NYSE:LOW) had its price objective upped by stock analysts at The Goldman Sachs Group from $280.00 to $283.00 in a research note issued to investors on Friday,MarketScreener reports. The firm presently has a “buy” rating on the home improvement retailer’s stock. The Goldman Sachs Group’s target price indicates a potential downside of 1.52% from the stock’s previous close.

A number of other research firms also recently commented on LOW. HSBC reduced their price objective on shares of Lowe’s Companies from $285.00 to $263.00 and set a “hold” rating for the company in a research note on Friday, November 21st. Wells Fargo & Company reduced their price target on Lowe’s Companies from $290.00 to $280.00 and set an “overweight” rating for the company in a research report on Tuesday, November 11th. Morgan Stanley raised their price target on Lowe’s Companies from $270.00 to $296.00 and gave the company an “overweight” rating in a research note on Thursday, January 15th. Telsey Advisory Group dropped their price objective on Lowe’s Companies from $305.00 to $285.00 and set an “outperform” rating on the stock in a research note on Thursday, November 20th. Finally, Gordon Haskett raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating and set a $325.00 target price for the company in a research note on Tuesday, January 13th. Twenty investment 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. Based on data from MarketBeat.com, Lowe’s Companies has a consensus rating of “Moderate Buy” and a consensus target price of $286.30.

Lowe’s Companies Stock Up 0.6%

Shares of LOW opened at $287.36 on Friday. Lowe’s Companies has a twelve month low of $206.38 and a twelve month high of $293.06. The stock has a market capitalization of $161.19 billion, a P/E ratio of 23.83, a P/E/G ratio of 4.45 and a beta of 0.97. The company has a 50 day moving average of $261.04 and a 200-day moving average of $251.58.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings data on Wednesday, November 26th. The home improvement retailer reported $3.06 EPS for the quarter, topping analysts’ consensus estimates of $2.97 by $0.09. The business had revenue of $20.81 billion for the quarter, compared to analyst estimates 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 revenue for the quarter was up 3.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.89 earnings per share. On average, sell-side analysts anticipate that Lowe’s Companies will post 11.9 earnings per share for the current fiscal year.

Insider Buying and Selling at Lowe’s Companies

In other news, CEO Marvin R. Ellison sold 18,000 shares of the 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 transaction, the chief executive officer directly owned 231,043 shares of the company’s stock, valued at $60,341,500.31. This represents a 7.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.27% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Swiss RE Ltd. acquired a new stake in Lowe’s Companies during the fourth quarter worth approximately $25,000. Howard Hughes Medical Institute bought a new stake in shares of Lowe’s Companies during the 2nd quarter valued at $27,000. Wilkerson Advisory Group LLC acquired a new stake in shares of Lowe’s Companies during the 4th quarter worth $27,000. Solstein Capital LLC increased its position in shares of Lowe’s Companies by 627.8% in the second quarter. Solstein Capital LLC now owns 131 shares of the home improvement retailer’s stock worth $29,000 after purchasing an additional 113 shares during the period. Finally, Activest Wealth Management increased its position in shares of Lowe’s Companies by 78.5% in the third quarter. Activest Wealth Management now owns 116 shares of the home improvement retailer’s stock worth $29,000 after purchasing an additional 51 shares during the period. Institutional investors and hedge funds own 74.06% of the company’s stock.

About Lowe’s Companies

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.