Truist Financial Issues Positive Forecast for Lowe’s Companies (NYSE:LOW) Stock Price

Lowe’s Companies (NYSE:LOW) had its target price lifted by Truist Financial from $258.00 to $264.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the home improvement retailer’s stock. Truist Financial’s target price would indicate a potential upside of 17.08% from the stock’s previous close.

Other equities analysts have also issued research reports about the stock. Royal Bank of Canada decreased their price target on shares of Lowe’s Companies from $292.00 to $285.00 and set a “sector perform” rating for the company in a report on Thursday, February 27th. Morgan Stanley decreased their price target on shares of Lowe’s Companies from $300.00 to $255.00 and set an “overweight” rating on the stock in a research note on Monday, May 5th. KeyCorp upgraded Lowe’s Companies from a “sector weight” rating to an “overweight” rating and set a $266.00 price target for the company in a research note on Friday, April 25th. Piper Sandler cut their target price on Lowe’s Companies from $296.00 to $269.00 and set an “overweight” rating for the company in a research report on Monday, March 24th. Finally, Wells Fargo & Company decreased their price target on Lowe’s Companies from $285.00 to $260.00 and set an “overweight” rating on the stock in a research report on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $276.42.

Lowe’s Companies Price Performance

Shares of NYSE:LOW opened at $225.48 on Thursday. The stock has a market cap of $126.20 billion, a price-to-earnings ratio of 18.81, a P/E/G ratio of 1.96 and a beta of 1.00. The company has a 50 day moving average of $224.69 and a 200-day moving average of $245.29. Lowe’s Companies has a one year low of $206.39 and a one year high of $287.01.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings data on Wednesday, May 21st. The home improvement retailer reported $2.92 EPS for the quarter, beating analysts’ consensus estimates of $2.88 by $0.04. Lowe’s Companies had a negative return on equity of 47.55% and a net margin of 8.19%. The business had revenue of $20.93 billion during the quarter, compared to the consensus estimate of $21.09 billion. During the same quarter in the prior year, the company posted $3.06 earnings per share. The firm’s revenue was down 2.0% on a year-over-year basis. Equities research analysts anticipate that Lowe’s Companies will post 11.9 earnings per share for the current year.

Institutional Trading of Lowe’s Companies

A number of institutional investors have recently modified their holdings of LOW. Main Line Retirement Advisors LLC bought a new stake in shares of Lowe’s Companies in the 1st quarter worth approximately $210,000. MBL Wealth LLC lifted its holdings in Lowe’s Companies by 17.5% in the first quarter. MBL Wealth LLC now owns 3,623 shares of the home improvement retailer’s stock worth $845,000 after buying an additional 540 shares during the period. McAdam LLC boosted its position in shares of Lowe’s Companies by 9.6% during the first quarter. McAdam LLC now owns 1,682 shares of the home improvement retailer’s stock valued at $392,000 after purchasing an additional 148 shares in the last quarter. Acadian Asset Management LLC boosted its holdings in shares of Lowe’s Companies by 637.7% during the 1st quarter. Acadian Asset Management LLC now owns 160,408 shares of the home improvement retailer’s stock valued at $37,403,000 after buying an additional 138,663 shares in the last quarter. Finally, Geneos Wealth Management Inc. boosted its stake in Lowe’s Companies by 12.6% during the first quarter. Geneos Wealth Management Inc. now owns 7,982 shares of the home improvement retailer’s stock worth $1,862,000 after acquiring an additional 896 shares in the last quarter. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

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.