Lowe’s Companies (NYSE:LOW – Get Free Report) had its target price reduced by stock analysts at Royal Bank of Canada from $245.00 to $238.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has a “sector perform” rating on the home improvement retailer’s stock. Royal Bank of Canada’s target price would indicate a potential downside of 1.55% from the company’s current price.
Several other research analysts also recently commented on LOW. Stifel Nicolaus raised their price objective on shares of Lowe’s Companies from $225.00 to $250.00 and gave the stock a “hold” rating in a report on Monday, May 13th. Truist Financial raised their price target on Lowe’s Companies from $265.00 to $269.00 and gave the stock a “buy” rating in a report on Wednesday. DA Davidson reduced their price target on Lowe’s Companies from $270.00 to $240.00 and set a “neutral” rating for the company in a research report on Wednesday, May 22nd. Bank of America dropped their price objective on Lowe’s Companies from $280.00 to $275.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, Piper Sandler reduced their target price on Lowe’s Companies from $264.00 to $262.00 and set an “overweight” rating for the company in a report on Wednesday. Fourteen research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $251.81.
Check Out Our Latest Analysis on LOW
Lowe’s Companies Price Performance
Lowe’s Companies (NYSE:LOW – Get Free Report) last announced its quarterly earnings data on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share for the quarter, topping the consensus estimate of $3.96 by $0.14. The company had revenue of $23.59 billion during the quarter, compared to analyst estimates of $23.93 billion. Lowe’s Companies had a negative return on equity of 48.52% and a net margin of 8.46%. The firm’s revenue for the quarter was down 5.5% on a year-over-year basis. During the same quarter last year, the firm posted $4.56 EPS. As a group, research analysts expect that Lowe’s Companies will post 12.23 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Lowe’s Companies
Institutional investors have recently made changes to their positions in the business. Tidemark LLC bought a new stake in Lowe’s Companies in the fourth quarter valued at approximately $27,000. Voisard Asset Management Group Inc. purchased a new position in shares of Lowe’s Companies in the fourth quarter worth $28,000. Keener Financial Planning LLC bought a new stake in Lowe’s Companies during the 1st quarter valued at $35,000. Transcendent Capital Group LLC purchased a new stake in Lowe’s Companies during the 4th quarter valued at $31,000. Finally, Stephens Consulting LLC grew its holdings in Lowe’s Companies by 93.3% in the 2nd quarter. Stephens Consulting LLC now owns 145 shares of the home improvement retailer’s stock worth $32,000 after acquiring an additional 70 shares during the last quarter. Hedge funds and other institutional investors 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.
Further Reading
- Five stocks we like better than Lowe’s Companies
- Insider Trading – What You Need to Know
- Target Hits the Mark: Q2 Earnings Exceed Expectations
- The 3 Best Retail Stocks to Shop for in August
- Is Tesla’s Rebound Just Starting? Why You Should Consider Buying
- How to Use High Beta Stocks to Maximize Your Investing Profits
- Stanley Druckenmiller’s Latest Bet: MELI—Should You Follow Suit?
Receive News & Ratings for Lowe's Companies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lowe's Companies and related companies with MarketBeat.com's FREE daily email newsletter.