Truist Financial Lowers Lowe’s Companies (NYSE:LOW) Price Target to $235.00

Posted by Defense World Staff on Mar 6th, 2023

Lowe’s Companies (NYSE:LOW – Get Rating) had its target price reduced by Truist Financial from $258.00 to $235.00 in a research report report published on Thursday morning, The Fly reports.

Other equities analysts have also issued reports about the stock. Morgan Stanley restated an overweight rating and issued a $235.00 price objective on shares of Lowe’s Companies in a report on Monday, February 13th. Oppenheimer decreased their price objective on shares of Lowe’s Companies from $300.00 to $275.00 in a report on Tuesday, February 28th. JPMorgan Chase & Co. decreased their price objective on shares of Lowe’s Companies from $235.00 to $205.00 in a report on Friday, November 11th. StockNews.com raised shares of Lowe’s Companies from a hold rating to a buy rating in a research report on Friday, January 13th. Finally, The Goldman Sachs Group lifted their target price on shares of Lowe’s Companies from $241.00 to $246.00 and gave the stock a buy rating in a research report on Wednesday, December 7th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus price target of $224.81.

Lowe’s Companies Stock Performance

LOW stock opened at $199.73 on Thursday. The firm has a 50 day moving average price of $206.18 and a 200-day moving average price of $201.62. Lowe’s Companies has a 52-week low of $170.12 and a 52-week high of $238.37. The firm has a market capitalization of $123.97 billion, a price-to-earnings ratio of 19.95, a PEG ratio of 1.15 and a beta of 1.10.

Lowe’s Companies (NYSE:LOW – Get Rating) last announced its quarterly earnings data on Wednesday, March 1st. The home improvement retailer reported $2.28 earnings per share for the quarter, topping analysts’ consensus estimates of $2.21 by $0.07. Lowe’s Companies had a net margin of 6.63% and a negative return on equity of 82.30%. The company had revenue of $22.40 billion during the quarter, compared to analyst estimates of $22.71 billion. During the same period in the previous year, the business earned $1.78 EPS. The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. As a group, sell-side analysts forecast that Lowe’s Companies will post 13.87 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Ross W. Mccanless sold 57,629 shares of the company’s stock in a transaction on Tuesday, December 13th. The shares were sold at an average price of $211.35, for a total value of $12,179,889.15. Following the completion of the transaction, the executive vice president now owns 26,923 shares of the company’s stock, valued at approximately $5,690,176.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.24% of the stock is currently owned by insiders.

Institutional Trading of Lowe’s Companies

Several hedge funds have recently bought and sold shares of the stock. Morgan Stanley lifted its stake in Lowe’s Companies by 21.3% in the 4th quarter. Morgan Stanley now owns 11,690,606 shares of the home improvement retailer’s stock worth $2,329,237,000 after purchasing an additional 2,050,089 shares in the last quarter. Pershing Square Capital Management L.P. raised its position in shares of Lowe’s Companies by 1.6% during the 3rd quarter. Pershing Square Capital Management L.P. now owns 10,374,801 shares of the home improvement retailer’s stock valued at $1,948,491,000 after buying an additional 167,495 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Lowe’s Companies by 13.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 7,916,354 shares of the home improvement retailer’s stock valued at $1,486,770,000 after buying an additional 912,518 shares in the last quarter. Norges Bank purchased a new stake in shares of Lowe’s Companies during the 4th quarter valued at about $1,461,267,000. Finally, Moneta Group Investment Advisors LLC raised its position in shares of Lowe’s Companies by 107,710.7% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 5,080,039 shares of the home improvement retailer’s stock valued at $1,012,147,000 after buying an additional 5,075,327 shares in the last quarter. Hedge funds and other institutional investors own 72.62% of the company’s stock.

About Lowe’s Companies

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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.