Lowe’s Companies (NYSE:LOW) Price Target Raised to $310.00 at Truist Financial

Lowe’s Companies (NYSE:LOW) had its price objective upped by stock analysts at Truist Financial from $307.00 to $310.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the home improvement retailer’s stock. Truist Financial’s target price would suggest a potential upside of 16.76% from the company’s previous close.

Other research analysts have also issued research reports about the company. Bank of America boosted their target price on Lowe’s Companies from $275.00 to $305.00 and gave the company a “buy” rating in a report on Friday, October 11th. Piper Sandler boosted their price objective on shares of Lowe’s Companies from $262.00 to $307.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Royal Bank of Canada boosted their price objective on shares of Lowe’s Companies from $290.00 to $291.00 and gave the company a “sector perform” rating in a research report on Wednesday. TD Cowen upped their price target on shares of Lowe’s Companies from $270.00 to $290.00 and gave the stock a “hold” rating in a research note on Monday, October 28th. Finally, Gordon Haskett lowered their price objective on shares of Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating on the stock in a research report on Wednesday, August 21st. Ten research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $277.92.

Lowe’s Companies Trading Up 0.9 %

Lowe’s Companies stock opened at $265.50 on Wednesday. Lowe’s Companies has a 12 month low of $196.23 and a 12 month high of $287.01. The stock’s 50 day simple moving average is $268.56 and its two-hundred day simple moving average is $244.50. The firm has a market cap of $150.62 billion, a PE ratio of 22.14, a P/E/G ratio of 2.15 and a beta of 1.10.

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

Insider Activity at Lowe’s Companies

In other Lowe’s Companies news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the firm’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $248.82, for a total value of $1,684,262.58. Following the sale, the chief accounting officer now directly owns 9,383 shares in the company, valued at $2,334,678.06. This trade represents a 41.91 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Margrethe R. Vagell sold 5,730 shares of Lowe’s Companies 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 directly owns 13,214 shares of the company’s stock, valued at $3,586,940.30. This represents a 30.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.26% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of LOW. FMR LLC raised its position in Lowe’s Companies by 10.2% during the third quarter. FMR LLC now owns 26,010,730 shares of the home improvement retailer’s stock worth $7,045,006,000 after acquiring an additional 2,399,897 shares in the last quarter. State Street Corp increased its position in Lowe’s Companies by 1.9% during the 3rd quarter. State Street Corp now owns 25,013,655 shares of the home improvement retailer’s stock valued at $6,774,948,000 after purchasing an additional 460,851 shares during the period. Geode Capital Management LLC grew its position in Lowe’s Companies by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 11,733,461 shares of the home improvement retailer’s stock valued at $3,169,041,000 after purchasing an additional 187,473 shares during the period. Legal & General Group Plc lifted its stake in Lowe’s Companies by 1.6% during the 2nd quarter. Legal & General Group Plc now owns 5,205,491 shares of the home improvement retailer’s stock valued at $1,147,603,000 after acquiring an additional 82,978 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Lowe’s Companies by 1.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,369,052 shares of the home improvement retailer’s stock worth $912,508,000 after purchasing an additional 39,953 shares during the period. Institutional investors and hedge funds 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.