Bank of America Lowers Lowe’s Companies (NYSE:LOW) Price Target to $290.00

Lowe’s Companies (NYSE:LOW) had its price target cut by Bank of America from $305.00 to $290.00 in a research report report published on Thursday,Benzinga reports. They currently have a buy rating on the home improvement retailer’s stock.

LOW has been the topic of several other research reports. Royal Bank of Canada lifted their price objective on shares of Lowe’s Companies from $291.00 to $292.00 and gave the stock a “sector perform” rating in a research report on Thursday, December 12th. StockNews.com raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a report on Friday, January 17th. Barclays upped their price objective on Lowe’s Companies from $229.00 to $245.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 20th. Truist Financial raised their target price on Lowe’s Companies from $307.00 to $308.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. Finally, Sanford C. Bernstein upped their price target on Lowe’s Companies from $301.00 to $304.00 and gave the company an “outperform” rating in a research report on Thursday, December 12th. Ten investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $280.83.

Lowe’s Companies Price Performance

NYSE LOW opened at $245.87 on Thursday. The firm has a market cap of $138.83 billion, a price-to-earnings ratio of 20.51, a PEG ratio of 1.96 and a beta of 1.11. Lowe’s Companies has a 1 year low of $211.80 and a 1 year high of $287.01. The company has a fifty day moving average price of $252.50 and a 200-day moving average price of $258.77.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings data on Wednesday, February 26th. The home improvement retailer reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.10. The business had revenue of $18.55 billion for the quarter, compared to analysts’ expectations of $18.29 billion. Lowe’s Companies had a negative return on equity of 47.55% and a net margin of 8.19%. On average, research analysts anticipate that Lowe’s Companies will post 11.9 EPS for the current fiscal year.

Institutional Investors Weigh In On Lowe’s Companies

A number of institutional investors and hedge funds have recently made changes to their positions in LOW. AMF Tjanstepension AB lifted its position 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 valued at $43,290,000 after purchasing an additional 20,123 shares during the last quarter. Lodestar Private Asset Management LLC purchased a new position in shares of Lowe’s Companies during the 3rd quarter valued at about $204,000. Cornerstone Wealth Group LLC lifted its position in Lowe’s Companies by 0.8% in the 3rd quarter. Cornerstone Wealth Group LLC now owns 25,852 shares of the home improvement retailer’s stock worth $7,002,000 after buying an additional 195 shares during the last quarter. Solidarity Wealth LLC purchased a new stake in Lowe’s Companies in the third quarter worth approximately $203,000. Finally, Goldstone Financial Group LLC bought a new position in Lowe’s Companies during the third quarter valued at approximately $203,000. Hedge funds and other institutional investors own 74.06% of the company’s stock.

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.