Sanford C. Bernstein Lowers Lowe’s Companies (NYSE:LOW) Price Target to $301.00

Lowe’s Companies (NYSE:LOW) had its price target cut by stock analysts at Sanford C. Bernstein from $306.00 to $301.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the home improvement retailer’s stock. Sanford C. Bernstein’s target price would indicate a potential upside of 13.37% from the stock’s previous close.

LOW has been the topic of a number of other reports. Oppenheimer raised Lowe’s Companies from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $230.00 to $305.00 in a research note on Tuesday, September 24th. Royal Bank of Canada boosted their price objective on Lowe’s Companies from $290.00 to $291.00 and gave the company a “sector perform” rating in a research note on Wednesday. TD Cowen upped their target price on Lowe’s Companies from $270.00 to $290.00 and gave the company a “hold” rating in a research report on Monday, October 28th. Telsey Advisory Group reiterated an “outperform” rating and issued a $305.00 target price on shares of Lowe’s Companies in a report on Tuesday. Finally, Truist Financial increased their price target on Lowe’s Companies from $307.00 to $310.00 and gave the stock a “buy” rating in a report on Wednesday. Ten research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, Lowe’s Companies presently has an average rating of “Moderate Buy” and an average target price of $277.92.

Lowe’s Companies Trading Up 0.9 %

NYSE:LOW opened at $265.50 on Wednesday. The stock’s 50-day moving average is $268.56 and its 200-day moving average is $244.50. Lowe’s Companies has a 1-year low of $196.23 and a 1-year high of $287.01. The stock has a market cap of $150.62 billion, a P/E ratio of 22.14, a price-to-earnings-growth ratio of 2.15 and a beta of 1.10.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings data on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share for the quarter, beating analysts’ consensus estimates of $3.96 by $0.14. Lowe’s Companies had a negative return on equity of 47.55% and a net margin of 8.19%. The business had revenue of $23.59 billion during the quarter, compared to the consensus estimate of $23.93 billion. During the same period in the prior year, the business posted $4.56 earnings per share. Lowe’s Companies’s quarterly revenue was down 5.5% on a year-over-year basis. As a group, equities analysts forecast that Lowe’s Companies will post 11.82 EPS for the current year.

Insider Transactions at Lowe’s Companies

In related news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $248.82, for a total transaction of $1,684,262.58. Following the completion of the transaction, the chief accounting officer now owns 9,383 shares in the company, valued at approximately $2,334,678.06. This represents a 41.91 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Margrethe R. Vagell sold 5,730 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $271.45, for a total transaction of $1,555,408.50. Following the transaction, the executive vice president now owns 13,214 shares of the company’s stock, valued at approximately $3,586,940.30. The trade was a 30.25 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.26% of the company’s stock.

Hedge Funds Weigh In On Lowe’s Companies

Several institutional investors have recently added to or reduced their stakes in the stock. Legacy Investment Solutions LLC bought a new position in Lowe’s Companies during the third quarter worth about $27,000. Stephens Consulting LLC boosted its position in Lowe’s Companies by 93.3% during the second quarter. Stephens Consulting LLC now owns 145 shares of the home improvement retailer’s stock worth $32,000 after purchasing an additional 70 shares during the period. JNBA Financial Advisors boosted its position in Lowe’s Companies by 555.6% during the third quarter. JNBA Financial Advisors now owns 118 shares of the home improvement retailer’s stock worth $32,000 after purchasing an additional 100 shares during the period. MFA Wealth Advisors LLC boosted its position in Lowe’s Companies by 118.6% during the third quarter. MFA Wealth Advisors LLC now owns 129 shares of the home improvement retailer’s stock worth $35,000 after purchasing an additional 70 shares during the period. Finally, Kimelman & Baird LLC bought a new position in Lowe’s Companies during the second quarter worth about $37,000. Institutional investors own 74.06% of the company’s stock.

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.