Lowe’s Companies (NYSE:LOW) Price Target Increased to $305.00 by Analysts at Bank of America

Lowe’s Companies (NYSE:LOW) had its price target raised by research analysts at Bank of America from $275.00 to $305.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the home improvement retailer’s stock. Bank of America‘s price target points to a potential upside of 10.75% from the stock’s previous close.

LOW has been the topic of a number of other research reports. Oppenheimer raised Lowe’s Companies from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $230.00 to $305.00 in a report on Tuesday, September 24th. Telsey Advisory Group raised their price target on Lowe’s Companies from $230.00 to $275.00 and gave the company a “market perform” rating in a report on Wednesday, October 2nd. StockNews.com upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a research report on Wednesday, September 18th. Piper Sandler boosted their price target on Lowe’s Companies from $262.00 to $307.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. Finally, Melius Research initiated coverage on shares of Lowe’s Companies in a report on Monday, September 23rd. They issued a “buy” rating and a $290.00 price target on the stock. Eleven equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $266.88.

Lowe’s Companies Price Performance

Shares of NYSE:LOW traded up $2.19 during mid-day trading on Friday, reaching $275.40. 532,532 shares of the company were exchanged, compared to its average volume of 2,460,953. The firm has a market cap of $156.23 billion, a price-to-earnings ratio of 22.84, a P/E/G ratio of 2.28 and a beta of 1.10. Lowe’s Companies has a 1 year low of $181.85 and a 1 year high of $278.10. The firm’s 50-day simple moving average is $252.10 and its 200 day simple moving average is $237.64.

Lowe’s Companies (NYSE:LOW) last posted its earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.96 by $0.14. The firm 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 47.07% and a net margin of 8.25%. Lowe’s Companies’s revenue was down 5.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.56 EPS. On average, research analysts forecast that Lowe’s Companies will post 11.91 earnings per share for the current fiscal 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 stock was sold at an average price of $271.45, for a total transaction of $1,555,408.50. Following the completion of the sale, the executive vice president now directly owns 13,214 shares in the company, valued at approximately $3,586,940.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, EVP Margrethe R. Vagell sold 5,730 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $271.45, for a total value of $1,555,408.50. Following the completion of the sale, the executive vice president now directly owns 13,214 shares of the company’s stock, 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 can be accessed through this hyperlink. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $248.82, for a total value of $1,684,262.58. Following the transaction, the chief accounting officer now owns 9,383 shares of the company’s stock, valued at $2,334,678.06. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is owned by company insiders.

Institutional Investors Weigh In On Lowe’s Companies

A number of hedge funds have recently added to or reduced their stakes in the stock. Voisard Asset Management Group Inc. acquired a new position in shares of Lowe’s Companies during the fourth quarter valued at $28,000. Transcendent Capital Group LLC bought a new stake in shares of Lowe’s Companies during the fourth quarter worth approximately $31,000. Stephens Consulting LLC lifted its holdings in Lowe’s Companies by 93.3% in the second quarter. Stephens Consulting LLC now owns 145 shares of the home improvement retailer’s stock valued at $32,000 after buying an additional 70 shares during the period. Keener Financial Planning LLC bought a new position in Lowe’s Companies in the first quarter valued at approximately $35,000. Finally, Kimelman & Baird LLC bought a new stake in shares of Lowe’s Companies during the 2nd quarter valued at $37,000. 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.