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

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

Other equities research analysts have also recently issued reports about the stock. Guggenheim reaffirmed a “buy” rating and issued a $300.00 price objective on shares of Lowe’s Companies in a research report on Thursday, December 12th. Truist Financial boosted their price objective on shares of Lowe’s Companies from $307.00 to $308.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. Wedbush reaffirmed a “neutral” rating and issued a $250.00 price objective on shares of Lowe’s Companies in a research report on Thursday, December 12th. Barclays boosted their price objective on shares of Lowe’s Companies from $229.00 to $245.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 20th. Finally, Royal Bank of Canada boosted their price objective on shares of Lowe’s Companies from $291.00 to $292.00 and gave the company a “sector perform” rating in a research report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, Lowe’s Companies currently has a consensus rating of “Moderate Buy” and an average price target of $280.83.

Lowe’s Companies Stock Up 1.3 %

Shares of NYSE LOW opened at $248.71 on Thursday. The company’s fifty day moving average is $252.52 and its 200-day moving average is $259.05. The stock 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.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Klingenstein Fields & Co. LP grew its stake in Lowe’s Companies by 1.0% in the 4th quarter. Klingenstein Fields & Co. LP now owns 4,101 shares of the home improvement retailer’s stock valued at $1,012,000 after buying an additional 39 shares during the last quarter. Mitchell Mcleod Pugh & Williams Inc. grew its stake in Lowe’s Companies by 0.5% in the 3rd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 7,460 shares of the home improvement retailer’s stock valued at $2,021,000 after buying an additional 40 shares during the last quarter. Saxony Capital Management LLC grew its stake in Lowe’s Companies by 4.2% in the 4th quarter. Saxony Capital Management LLC now owns 994 shares of the home improvement retailer’s stock valued at $245,000 after buying an additional 40 shares during the last quarter. Powers Advisory Group LLC grew its stake in Lowe’s Companies by 2.7% in the 4th quarter. Powers Advisory Group LLC now owns 1,541 shares of the home improvement retailer’s stock valued at $380,000 after buying an additional 40 shares during the last quarter. Finally, Gen Wealth Partners Inc grew its stake in Lowe’s Companies by 1.9% in the 4th quarter. Gen Wealth Partners Inc now owns 2,163 shares of the home improvement retailer’s stock valued at $534,000 after buying an additional 40 shares during the last quarter. Institutional investors and hedge funds 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.