Truist Financial Cuts Lowe’s Companies (NYSE:LOW) Price Target to $295.00

Lowe’s Companies (NYSE:LOW) had its target price cut by Truist Financial from $308.00 to $295.00 in a research note released on Thursday,Benzinga reports. They currently have a buy rating on the home improvement retailer’s stock.

Several other research analysts have also recently issued reports on LOW. DA Davidson increased their price target on shares of Lowe’s Companies from $240.00 to $270.00 and gave the stock a “neutral” rating in a report on Wednesday, November 20th. Barclays increased their target price on Lowe’s Companies from $229.00 to $245.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 20th. Stifel Nicolaus raised their price target on Lowe’s Companies from $265.00 to $270.00 and gave the company a “hold” rating in a report on Wednesday, December 11th. Evercore ISI upped their price objective 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, Royal Bank of Canada raised their target price on Lowe’s Companies from $291.00 to $292.00 and gave the company a “sector perform” rating in a report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $280.83.

Lowe’s Companies Trading Up 1.3 %

Shares of LOW stock opened at $248.71 on Thursday. The company has a market capitalization of $140.43 billion, a P/E ratio of 20.74, a price-to-earnings-growth ratio of 1.96 and a beta of 1.11. The business’s 50 day moving average is $252.52 and its two-hundred day moving average is $259.05. 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 posted its quarterly earnings data on Wednesday, February 26th. The home improvement retailer reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.10. The firm had revenue of $18.55 billion for the quarter, compared to analyst estimates of $18.29 billion. Lowe’s Companies had a net margin of 8.19% and a negative return on equity of 47.55%. As a group, equities analysts predict that Lowe’s Companies will post 11.9 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Lowe’s Companies

Institutional investors have recently made changes to their positions in the stock. FMR LLC raised its stake in Lowe’s Companies by 1.0% in the 4th quarter. FMR LLC now owns 26,270,496 shares of the home improvement retailer’s stock valued at $6,483,558,000 after purchasing an additional 259,766 shares during the last quarter. State Street Corp raised its position in shares of Lowe’s Companies by 1.9% in the third quarter. State Street Corp now owns 25,013,655 shares of the home improvement retailer’s stock valued at $6,774,948,000 after buying an additional 460,851 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Lowe’s Companies by 2.1% in the fourth quarter. Geode Capital Management LLC now owns 11,979,337 shares of the home improvement retailer’s stock valued at $2,952,341,000 after buying an additional 245,876 shares during the last quarter. Norges Bank purchased a new position in shares of Lowe’s Companies during the fourth quarter valued at approximately $1,842,954,000. Finally, Northern Trust Corp boosted its position in Lowe’s Companies by 16.3% during the fourth quarter. Northern Trust Corp now owns 7,074,391 shares of the home improvement retailer’s stock worth $1,745,960,000 after acquiring an additional 993,833 shares during the last quarter. 74.06% of the stock is owned by institutional investors and hedge funds.

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.