Truist Financial Has Lowered Expectations for Lowe’s Companies (NYSE:LOW) Stock Price

Lowe’s Companies (NYSE:LOW) had its price objective reduced by investment analysts at Truist Financial from $308.00 to $295.00 in a research note issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the home improvement retailer’s stock. Truist Financial’s target price would indicate a potential upside of 18.61% from the company’s current price.

A number of other equities research analysts have also recently issued reports on the stock. Piper Sandler dropped their target price on shares of Lowe’s Companies from $307.00 to $296.00 and set an “overweight” rating on the stock in a report on Thursday. Mizuho dropped their price objective on Lowe’s Companies from $305.00 to $300.00 and set an “outperform” rating on the stock in a research note on Thursday. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $305.00 price objective on shares of Lowe’s Companies in a research report on Wednesday. Evercore ISI boosted their target price on Lowe’s Companies from $270.00 to $290.00 and gave the stock an “in-line” rating in a report on Thursday, December 12th. Finally, StockNews.com raised Lowe’s Companies from a “hold” rating to a “buy” rating in a report on Friday, January 17th. Ten research 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 stock has an average rating of “Moderate Buy” and a consensus target price of $280.83.

Lowe’s Companies Stock Up 1.3 %

LOW stock opened at $248.71 on Thursday. The company has a market cap of $140.43 billion, a price-to-earnings ratio of 20.74, a P/E/G ratio of 1.96 and a beta of 1.11. Lowe’s Companies has a twelve month low of $211.80 and a twelve month high of $287.01. The business has a 50 day moving average price of $252.52 and a two-hundred day moving average price of $258.89.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings data on Wednesday, February 26th. The home improvement retailer reported $1.93 EPS for the quarter, beating the consensus estimate of $1.83 by $0.10. The company had revenue of $18.55 billion during the quarter, compared to the consensus estimate 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, equities research analysts anticipate that Lowe’s Companies will post 11.9 EPS for the current fiscal year.

Institutional Trading of Lowe’s Companies

Institutional investors have recently modified their holdings of the stock. AMF Tjanstepension AB increased its holdings in Lowe’s Companies by 14.4% in the 3rd quarter. AMF Tjanstepension AB now owns 159,742 shares of the home improvement retailer’s stock valued at $43,290,000 after buying an additional 20,123 shares during the period. Lodestar Private Asset Management LLC acquired a new stake in shares of Lowe’s Companies during the 3rd quarter worth approximately $204,000. Cornerstone Wealth Group LLC increased its stake in Lowe’s Companies by 0.8% in the third quarter. Cornerstone Wealth Group LLC now owns 25,852 shares of the home improvement retailer’s stock valued at $7,002,000 after acquiring an additional 195 shares during the last quarter. Solidarity Wealth LLC acquired a new position in Lowe’s Companies during the third quarter valued at approximately $203,000. Finally, Goldstone Financial Group LLC bought a new stake in Lowe’s Companies during the third quarter worth $203,000. 74.06% of the stock is currently 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.