Loop Capital Increases Lowe’s Companies (NYSE:LOW) Price Target to $250.00

Lowe’s Companies (NYSE:LOW) had its target price raised by investment analysts at Loop Capital from $230.00 to $250.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “hold” rating on the home improvement retailer’s stock. Loop Capital’s price target would indicate a potential downside of 7.89% from the stock’s current price.

A number of other equities research analysts also recently commented on LOW. Wedbush reiterated a “neutral” rating and set a $250.00 price objective on shares of Lowe’s Companies in a research report on Wednesday, August 21st. Royal Bank of Canada reduced their price objective on shares of Lowe’s Companies from $245.00 to $238.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 21st. Evercore ISI lifted their target price on shares of Lowe’s Companies from $225.00 to $250.00 and gave the stock an “in-line” rating in a research report on Wednesday, August 21st. Oppenheimer upgraded shares of Lowe’s Companies from a “market perform” rating to an “outperform” rating and upped their price target for the company from $230.00 to $305.00 in a research report on Tuesday, September 24th. Finally, UBS Group boosted their target price on shares of Lowe’s Companies from $270.00 to $290.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Twelve analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, Lowe’s Companies has a consensus rating of “Moderate Buy” and an average target price of $263.54.

Lowe’s Companies Stock Down 0.4 %

NYSE LOW traded down $1.22 on Wednesday, reaching $271.42. 683,692 shares of the stock traded hands, compared to its average volume of 2,475,996. Lowe’s Companies has a 12 month low of $181.85 and a 12 month high of $274.16. The company has a market cap of $154.66 billion, a price-to-earnings ratio of 21.81, a P/E/G ratio of 2.15 and a beta of 1.10. The firm’s fifty day simple moving average is $247.52 and its 200 day simple moving average is $236.48.

Lowe’s Companies (NYSE:LOW) last released its earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.96 by $0.14. The firm had revenue of $23.59 billion for the quarter, compared to analyst estimates of $23.93 billion. Lowe’s Companies had a negative return on equity of 47.07% and a net margin of 8.25%. Lowe’s Companies’s revenue was down 5.5% compared to the same quarter last year. During the same period in the previous year, the company earned $4.56 earnings per share. As a group, equities research analysts forecast that Lowe’s Companies will post 11.93 EPS for the current fiscal 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 that occurred on Thursday, September 12th. The stock was sold at an average price of $248.82, for a total transaction of $1,684,262.58. Following the completion of the sale, the chief accounting officer now owns 9,383 shares in the company, valued at approximately $2,334,678.06. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.26% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in Lowe’s Companies by 5.2% in the first quarter. Vanguard Group Inc. now owns 53,693,630 shares of the home improvement retailer’s stock worth $13,677,378,000 after purchasing an additional 2,674,372 shares in the last quarter. Strategic Financial Concepts LLC boosted its stake in Lowe’s Companies by 20,275.6% in the 2nd quarter. Strategic Financial Concepts LLC now owns 1,205,014 shares of the home improvement retailer’s stock valued at $2,657,000 after buying an additional 1,199,100 shares in the last quarter. M&G Plc bought a new stake in Lowe’s Companies in the first quarter valued at $217,995,000. Pathstone Holdings LLC acquired a new position in Lowe’s Companies during the fourth quarter worth $126,615,000. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of Lowe’s Companies by 36.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,840,704 shares of the home improvement retailer’s stock valued at $468,884,000 after acquiring an additional 493,180 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.