Lowe’s Companies (NYSE:LOW) Price Target Cut to $235.00

Posted by on Mar 6th, 2023

Lowe’s Companies (NYSE:LOW – Get Rating) had its price objective trimmed by Telsey Advisory Group from $250.00 to $235.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has an outperform rating on the home improvement retailer’s stock. Telsey Advisory Group also issued estimates for Lowe’s Companies’ Q1 2024 earnings at $3.55 EPS, Q2 2024 earnings at $4.86 EPS, Q3 2024 earnings at $3.33 EPS, Q4 2024 earnings at $2.12 EPS, FY2024 earnings at $13.68 EPS, FY2025 earnings at $15.27 EPS and FY2025 earnings at $15.13 EPS.

Several other brokerages also recently issued reports on LOW. Wedbush upped their price target on shares of Lowe’s Companies from $190.00 to $200.00 and gave the stock a neutral rating in a research report on Thursday, December 8th. Credit Suisse Group initiated coverage on shares of Lowe’s Companies in a report on Monday, December 19th. They issued a neutral rating and a $210.00 price target for the company. MKM Partners reduced their price objective on Lowe’s Companies from $220.00 to $205.00 in a report on Wednesday, November 9th. JPMorgan Chase & Co. lowered their target price on Lowe’s Companies from $235.00 to $205.00 in a research note on Friday, November 11th. Finally, Piper Sandler upped their target price on shares of Lowe’s Companies from $248.00 to $253.00 and gave the company an overweight rating in a research report on Thursday, November 17th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of Hold and a consensus target price of $224.81.

Lowe’s Companies Price Performance

Shares of NYSE:LOW opened at $199.73 on Thursday. The business’s fifty day moving average price is $206.18 and its two-hundred day moving average price is $201.62. Lowe’s Companies has a fifty-two week low of $170.12 and a fifty-two week high of $238.37. The stock has a market capitalization of $123.97 billion, a price-to-earnings ratio of 19.95, a price-to-earnings-growth ratio of 1.15 and a beta of 1.10.

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

Insider Buying and Selling at Lowe’s Companies

In other Lowe’s Companies news, EVP Ross W. Mccanless sold 57,629 shares of the company’s stock in a transaction on Tuesday, December 13th. The stock was sold at an average price of $211.35, for a total value of $12,179,889.15. Following the transaction, the executive vice president now directly 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 SEC, which is accessible through this link. Insiders own 0.24% of the company’s stock.

Institutional Trading of Lowe’s Companies

Several large investors have recently modified their holdings of LOW. Norges Bank acquired a new stake in shares of Lowe’s Companies during the 4th quarter worth $1,461,267,000. Moneta Group Investment Advisors LLC lifted 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 worth $1,012,147,000 after buying an additional 5,075,327 shares during the last quarter. Morgan Stanley lifted its position in shares of Lowe’s Companies by 21.3% during the 4th quarter. Morgan Stanley now owns 11,690,606 shares of the home improvement retailer’s stock worth $2,329,237,000 after buying an additional 2,050,089 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of Lowe’s Companies by 7,952.8% during the 1st quarter. Renaissance Technologies LLC now owns 1,586,400 shares of the home improvement retailer’s stock worth $320,754,000 after buying an additional 1,566,700 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its position in shares of Lowe’s Companies by 2,072.5% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,078,468 shares of the home improvement retailer’s stock worth $218,055,000 after buying an additional 1,028,827 shares during the last quarter. 72.62% of the stock is owned by institutional investors and hedge funds.

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.

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