Lowe’s Companies (NYSE:LOW) Price Target Lowered to $280.00 at Wells Fargo & Company

Lowe’s Companies (NYSE:LOW) had its price objective reduced by analysts at Wells Fargo & Company from $290.00 to $280.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the home improvement retailer’s stock. Wells Fargo & Company‘s target price suggests a potential upside of 16.03% from the stock’s previous close.

Several other research firms also recently weighed in on LOW. Piper Sandler decreased their price target on shares of Lowe’s Companies from $264.00 to $262.00 and set an “overweight” rating for the company in a research note on Wednesday. Royal Bank of Canada dropped their price target on Lowe’s Companies from $245.00 to $238.00 and set a “sector perform” rating on the stock in a research report on Wednesday. Stifel Nicolaus lifted their price objective on Lowe’s Companies from $225.00 to $250.00 and gave the company a “hold” rating in a report on Monday, May 13th. Wedbush reiterated a “neutral” rating and set a $250.00 target price on shares of Lowe’s Companies in a report on Wednesday. Finally, Bank of America cut their target price on shares of Lowe’s Companies from $280.00 to $275.00 and set a “buy” rating on the stock in a research report on Wednesday. Fourteen equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $253.15.

Lowe’s Companies Trading Up 0.4 %

Shares of NYSE LOW traded up $0.98 during midday trading on Wednesday, hitting $241.31. The company’s stock had a trading volume of 591,630 shares, compared to its average volume of 2,527,200. Lowe’s Companies has a 12-month low of $181.85 and a 12-month high of $262.49. The firm has a market cap of $137.51 billion, a P/E ratio of 19.44, a price-to-earnings-growth ratio of 1.85 and a beta of 1.07. The business’s 50 day moving average is $230.83 and its two-hundred day moving average is $232.19.

Lowe’s Companies (NYSE:LOW) last released its earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share for the quarter, topping analysts’ consensus estimates of $3.96 by $0.14. The business had revenue of $23.59 billion for the quarter, compared to analyst estimates of $23.93 billion. Lowe’s Companies had a negative return on equity of 48.52% and a net margin of 8.46%. The business’s revenue was down 5.5% compared to the same quarter last year. During the same quarter last year, the firm posted $4.56 earnings per share. On average, analysts predict that Lowe’s Companies will post 12.23 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in LOW. Drive Wealth Management LLC increased its stake in shares of Lowe’s Companies by 2.2% during the second quarter. Drive Wealth Management LLC now owns 1,894 shares of the home improvement retailer’s stock worth $418,000 after purchasing an additional 41 shares in the last quarter. Crown Wealth Group LLC increased its stake in Lowe’s Companies by 4.4% during the 2nd quarter. Crown Wealth Group LLC now owns 1,051 shares of the home improvement retailer’s stock worth $232,000 after buying an additional 44 shares in the last quarter. Pure Financial Advisors LLC raised its holdings in shares of Lowe’s Companies by 2.5% during the second quarter. Pure Financial Advisors LLC now owns 1,813 shares of the home improvement retailer’s stock valued at $400,000 after acquiring an additional 45 shares during the last quarter. BLB&B Advisors LLC raised its holdings in shares of Lowe’s Companies by 2.2% during the second quarter. BLB&B Advisors LLC now owns 2,062 shares of the home improvement retailer’s stock valued at $454,000 after acquiring an additional 45 shares during the last quarter. Finally, Pathway Financial Advisers LLC lifted its position in shares of Lowe’s Companies by 3.5% in the second quarter. Pathway Financial Advisers LLC now owns 1,331 shares of the home improvement retailer’s stock valued at $292,000 after acquiring an additional 45 shares in the last quarter. 74.06% of the stock is owned by institutional investors and hedge funds.

About Lowe’s Companies

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.