Lowe’s Companies (NYSE:LOW) Price Target Cut to $240.00 by Analysts at Citigroup

Lowe’s Companies (NYSE:LOW) had its price objective dropped by equities researchers at Citigroup from $243.00 to $240.00 in a research note issued on Tuesday, Benzinga reports. The firm currently has a “neutral” rating on the home improvement retailer’s stock. Citigroup’s target price would suggest a potential upside of 3.66% from the company’s previous close.

A number of other research firms have also weighed in on LOW. Royal Bank of Canada upped their price objective on Lowe’s Companies from $190.00 to $246.00 and gave the stock a “sector perform” rating in a research note on Wednesday, February 28th. Truist Financial lifted their price target on shares of Lowe’s Companies from $258.00 to $271.00 and gave the company a “buy” rating in a report on Tuesday, April 2nd. Piper Sandler increased their price objective on shares of Lowe’s Companies from $218.00 to $245.00 and gave the company an “overweight” rating in a report on Tuesday, January 16th. StockNews.com lowered Lowe’s Companies from a “buy” rating to a “hold” rating in a research report on Wednesday, February 28th. Finally, Evercore ISI decreased their target price on Lowe’s Companies from $280.00 to $275.00 and set an “in-line” rating on the stock in a research report on Tuesday, April 16th. Fifteen equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $252.67.

Lowe’s Companies Price Performance

NYSE LOW traded down $0.17 during trading hours on Tuesday, hitting $231.53. The company’s stock had a trading volume of 943,995 shares, compared to its average volume of 2,441,933. The company has a market cap of $132.48 billion, a P/E ratio of 17.63, a price-to-earnings-growth ratio of 1.72 and a beta of 1.15. The company’s 50 day simple moving average is $240.08 and its two-hundred day simple moving average is $221.40. Lowe’s Companies has a 12 month low of $181.85 and a 12 month high of $262.49.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings results on Tuesday, February 27th. The home improvement retailer reported $1.77 EPS for the quarter, beating the consensus estimate of $1.68 by $0.09. Lowe’s Companies had a net margin of 8.94% and a negative return on equity of 51.42%. The firm had revenue of $18.60 billion during the quarter, compared to analyst estimates of $18.47 billion. During the same quarter in the prior year, the firm earned $2.28 EPS. The business’s revenue for the quarter was down 17.1% compared to the same quarter last year. As a group, research analysts predict that Lowe’s Companies will post 12.21 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Clifford Swan Investment Counsel LLC grew its holdings in Lowe’s Companies by 0.3% during the fourth quarter. Clifford Swan Investment Counsel LLC now owns 215,442 shares of the home improvement retailer’s stock worth $47,947,000 after acquiring an additional 541 shares during the period. Harbour Trust & Investment Management Co acquired a new position in Lowe’s Companies in the 4th quarter valued at about $5,890,000. Syon Capital LLC lifted its stake in shares of Lowe’s Companies by 23.3% in the 4th quarter. Syon Capital LLC now owns 7,129 shares of the home improvement retailer’s stock valued at $1,587,000 after purchasing an additional 1,345 shares during the last quarter. Biondo Investment Advisors LLC boosted its stake in Lowe’s Companies by 1.0% during the third quarter. Biondo Investment Advisors LLC now owns 60,958 shares of the home improvement retailer’s stock worth $12,669,000 after buying an additional 620 shares during the period. Finally, Perigon Wealth Management LLC increased its holdings in Lowe’s Companies by 18.6% in the 4th quarter. Perigon Wealth Management LLC now owns 3,724 shares of the home improvement retailer’s stock valued at $829,000 after purchasing an additional 584 shares during the last quarter. Hedge funds and other 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.