Wells Fargo & Company Boosts Lowe’s Companies (NYSE:LOW) Price Target to $295.00

Lowe’s Companies (NYSE:LOW) had its target price increased by research analysts at Wells Fargo & Company from $280.00 to $295.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the home improvement retailer’s stock. Wells Fargo & Company‘s price objective indicates a potential upside of 8.86% from the company’s current price.

Other analysts have also recently issued research reports about the company. Morgan Stanley boosted their target price on Lowe’s Companies from $250.00 to $255.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Loop Capital raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating and raised their target price for the company from $250.00 to $300.00 in a research note on Wednesday, October 9th. Melius Research initiated coverage on shares of Lowe’s Companies in a research report on Monday, September 23rd. They set a “buy” rating and a $290.00 price target for the company. Bank of America raised their price objective on Lowe’s Companies from $275.00 to $305.00 and gave the company a “buy” rating in a research report on Friday, October 11th. Finally, StockNews.com raised Lowe’s Companies from a “hold” rating to a “buy” rating in a research report on Wednesday, September 18th. Ten investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, Lowe’s Companies currently has an average rating of “Moderate Buy” and a consensus price target of $273.44.

Lowe’s Companies Stock Performance

Lowe’s Companies stock traded up $4.70 during trading on Wednesday, reaching $271.00. The company had a trading volume of 289,818 shares, compared to its average volume of 2,435,757. The firm has a market capitalization of $153.74 billion, a price-to-earnings ratio of 22.08, a PEG ratio of 2.18 and a beta of 1.10. Lowe’s Companies has a 12-month low of $189.05 and a 12-month high of $287.01. The stock’s 50 day moving average price is $263.77 and its two-hundred day moving average price is $241.67.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings data on Tuesday, August 20th. The home improvement retailer reported $4.10 EPS for the quarter, topping analysts’ consensus estimates of $3.96 by $0.14. Lowe’s Companies had a negative return on equity of 47.07% and a net margin of 8.25%. The business had revenue of $23.59 billion during the quarter, compared to the consensus estimate of $23.93 billion. During the same period in the prior year, the firm posted $4.56 EPS. The business’s revenue for the quarter was down 5.5% on a year-over-year basis. As a group, research analysts expect that Lowe’s Companies will post 11.91 earnings per share for the current year.

Insider Activity

In other Lowe’s Companies news, EVP Margrethe R. Vagell sold 5,730 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $271.45, for a total value of $1,555,408.50. Following the transaction, the executive vice president now owns 13,214 shares of the company’s stock, valued at $3,586,940.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, EVP Margrethe R. Vagell sold 5,730 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $271.45, for a total transaction of $1,555,408.50. Following the completion of the transaction, the executive vice president now owns 13,214 shares in the company, valued at approximately $3,586,940.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of Lowe’s Companies stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $248.82, for a total transaction of $1,684,262.58. Following the completion of the sale, the chief accounting officer now owns 9,383 shares in the company, valued at approximately $2,334,678.06. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.26% of the company’s stock.

Institutional Trading of Lowe’s Companies

Large investors have recently added to or reduced their stakes in the business. Bamco Inc. NY raised its position in Lowe’s Companies by 10.3% in the first quarter. Bamco Inc. NY now owns 216,958 shares of the home improvement retailer’s stock worth $55,266,000 after acquiring an additional 20,181 shares in the last quarter. Plato Investment Management Ltd grew its stake in shares of Lowe’s Companies by 655.9% in the 1st quarter. Plato Investment Management Ltd now owns 6,304 shares of the home improvement retailer’s stock worth $1,606,000 after purchasing an additional 5,470 shares during the last quarter. HM Payson & Co. raised its holdings in shares of Lowe’s Companies by 1.1% in the 3rd quarter. HM Payson & Co. now owns 215,651 shares of the home improvement retailer’s stock worth $58,409,000 after purchasing an additional 2,322 shares in the last quarter. Daymark Wealth Partners LLC lifted its stake in Lowe’s Companies by 12.7% during the second quarter. Daymark Wealth Partners LLC now owns 25,569 shares of the home improvement retailer’s stock valued at $5,637,000 after purchasing an additional 2,889 shares during the last quarter. Finally, AMF Tjanstepension AB boosted its holdings in Lowe’s Companies by 14.4% during the third quarter. AMF Tjanstepension AB now owns 159,742 shares of the home improvement retailer’s stock worth $43,290,000 after buying an additional 20,123 shares in the last quarter. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Lowe’s Companies Company Profile

Lowe’s Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It also provides home improvement products, such as appliances, seasonal and outdoor living, lawn and garden, lumber, kitchens and bath, tools, paint, millwork, hardware, flooring, rough plumbing, building materials, décor, and electrical.