Lowe’s Companies (NYSE:LOW) Stock Price Up 0.4%

Lowe’s Companies, Inc. (NYSE:LOW)’s stock price rose 0.4% during mid-day trading on Friday . The stock traded as high as $249.05 and last traded at $247.65. Approximately 219,966 shares traded hands during mid-day trading, a decline of 91% from the average daily volume of 2,508,316 shares. The stock had previously closed at $246.77.

Analyst Upgrades and Downgrades

LOW has been the subject of several recent analyst reports. Bank of America cut their target price on shares of Lowe’s Companies from $280.00 to $275.00 and set a “buy” rating for the company in a research note on Wednesday, August 21st. StockNews.com upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a research report on Friday, August 2nd. Piper Sandler cut their price objective on shares of Lowe’s Companies from $264.00 to $262.00 and set an “overweight” rating for the company in a research report on Wednesday, August 21st. Stifel Nicolaus raised their price objective on shares of Lowe’s Companies from $225.00 to $250.00 and gave the stock a “hold” rating in a research report on Monday, May 13th. Finally, UBS Group raised their price objective on shares of Lowe’s Companies from $270.00 to $290.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Twelve equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $254.04.

Lowe’s Companies Price Performance

The firm’s fifty day moving average price is $233.30 and its two-hundred day moving average price is $233.22. The stock has a market cap of $140.93 billion, a price-to-earnings ratio of 19.89, a price-to-earnings-growth ratio of 1.85 and a beta of 1.07.

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

Institutional Investors Weigh In On Lowe’s Companies

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

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.