Wolfe Research Lowers Lowe’s Companies (NYSE:LOW) Price Target to $284.00

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

A number of other equities analysts have also issued reports on the company. DA Davidson reduced their target price on Lowe’s Companies from $266.00 to $250.00 and set a “neutral” rating for the company in a research note on Thursday, November 20th. Stifel Nicolaus raised their price target on shares of Lowe’s Companies from $230.00 to $250.00 and gave the stock a “hold” rating in a report on Monday, December 1st. Robert W. Baird decreased their price target on shares of Lowe’s Companies from $295.00 to $290.00 and set an “outperform” rating for the company in a research note on Thursday, November 20th. HSBC dropped their price target on Lowe’s Companies from $285.00 to $263.00 and set a “hold” rating on the stock in a research report on Friday, November 21st. Finally, Argus dropped their target price on shares of Lowe’s Companies from $290.00 to $286.00 and set a “buy” rating for the company in a report on Tuesday, December 2nd. Nineteen analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Lowe’s Companies has an average rating of “Moderate Buy” and an average target price of $284.77.

Lowe’s Companies Stock Performance

Shares of Lowe’s Companies stock traded up $3.13 during trading hours on Wednesday, hitting $278.02. The company’s stock had a trading volume of 2,211,831 shares, compared to its average volume of 2,886,113. The business has a 50 day moving average price of $257.24 and a two-hundred day moving average price of $249.62. Lowe’s Companies has a 12-month low of $206.38 and a 12-month high of $281.36. The company has a market cap of $155.96 billion, a PE ratio of 23.05, a PEG ratio of 4.30 and a beta of 0.97.

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

Insider Activity at Lowe’s Companies

In other Lowe’s Companies news, CEO Marvin R. Ellison sold 18,000 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the chief executive officer directly owned 231,043 shares of the company’s stock, valued at $60,341,500.31. The trade was a 7.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.27% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Lowe’s Companies

A number of hedge funds have recently made changes to their positions in the company. Howard Hughes Medical Institute bought a new stake in shares of Lowe’s Companies during the second quarter worth $27,000. Solstein Capital LLC grew its holdings in shares of Lowe’s Companies by 627.8% in the 2nd quarter. Solstein Capital LLC now owns 131 shares of the home improvement retailer’s stock valued at $29,000 after acquiring an additional 113 shares in the last quarter. Activest Wealth Management grew its position in shares of Lowe’s Companies by 78.5% in the 3rd quarter. Activest Wealth Management now owns 116 shares of the home improvement retailer’s stock valued at $29,000 after acquiring an additional 51 shares during the period. OLD Second National Bank of Aurora raised its stake in Lowe’s Companies by 52.5% in the 4th quarter. OLD Second National Bank of Aurora now owns 122 shares of the home improvement retailer’s stock valued at $29,000 after acquiring an additional 42 shares during the period. Finally, Traub Capital Management LLC acquired a new stake in Lowe’s Companies during the 2nd quarter worth approximately $30,000. 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.