Lowe’s Companies (NYSE:LOW) Given New $238.00 Price Target at Royal Bank of Canada

Lowe’s Companies (NYSE:LOW) 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.

Lowe’s Companies Price Performance

Shares of LOW traded up $1.41 during mid-day trading on Wednesday, hitting $241.74. The stock had a trading volume of 361,987 shares, compared to its average volume of 2,525,774. Lowe’s Companies has a 52 week low of $181.85 and a 52 week high of $262.49. The business has a fifty day moving average price of $230.83 and a 200-day moving average price of $232.19. The firm has a market cap of $137.75 billion, a P/E ratio of 19.42, a PEG ratio of 1.85 and a beta of 1.07.

Lowe’s Companies (NYSE:LOW) 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.