Lowe’s Companies (NYSE:LOW) Stock Price Expected to Rise, TD Cowen Analyst Says

by · The Markets Daily

Lowe’s Companies (NYSE:LOW – Get Free Report) had its price objective upped by TD Cowen from $250.00 to $295.00 in a report released on Tuesday,Benzinga reports. The firm currently has a “hold” rating on the home improvement retailer’s stock. TD Cowen’s price objective indicates a potential upside of 9.76% from the stock’s current price.

A number of other research analysts have also weighed in on LOW. DA Davidson reduced their price objective on shares of Lowe’s Companies from $266.00 to $250.00 and set a “neutral” rating for the company in a research note on Thursday, November 20th. Telsey Advisory Group cut their price target on shares of Lowe’s Companies from $305.00 to $285.00 and set an “outperform” rating for the company in a research note on Thursday, November 20th. Bank of America dropped their target price on Lowe’s Companies from $290.00 to $280.00 and set a “buy” rating for the company in a research report on Thursday, November 20th. Truist Financial set a $295.00 price objective on Lowe’s Companies in a research note on Friday. Finally, Morgan Stanley boosted their price objective on shares of Lowe’s Companies from $270.00 to $296.00 and gave the company an “overweight” rating in a research report on Thursday. Nineteen investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $283.65.

Get Our Latest Analysis on LOW

Lowe’s Companies Stock Down 3.2%

Lowe’s Companies stock traded down $8.78 during midday trading on Tuesday, hitting $268.77. 1,735,460 shares of the stock were exchanged, compared to its average volume of 2,852,774. The stock has a market capitalization of $150.76 billion, a price-to-earnings ratio of 22.30, a price-to-earnings-growth ratio of 4.60 and a beta of 0.96. The business’s 50-day moving average price is $245.92 and its 200-day moving average price is $244.98. Lowe’s Companies has a 52-week low of $206.38 and a 52-week high of $278.44.

Lowe’s Companies (NYSE:LOW – Get Free Report) last announced its quarterly earnings data on Wednesday, November 26th. The home improvement retailer reported $3.06 EPS for the quarter, topping the consensus estimate of $2.97 by $0.09. Lowe’s Companies had a net margin of 8.05% and a negative return on equity of 55.86%. The business had revenue of $20.81 billion for the quarter, compared to analyst estimates of $20.88 billion. During the same quarter in the previous year, the firm posted $2.89 earnings per share. The company’s revenue for the quarter was up 3.2% on a year-over-year basis. On average, sell-side analysts predict that Lowe’s Companies will post 11.9 earnings per share for the current fiscal year.

Insider Activity at Lowe’s Companies

In other Lowe’s Companies news, CEO Marvin R. Ellison sold 18,000 shares of Lowe’s Companies stock in a transaction on Friday, January 9th. The shares were sold at an average price of $261.17, for a total value of $4,701,060.00. Following the sale, the chief executive officer directly owned 231,043 shares in the company, valued at approximately $60,341,500.31. The trade was a 7.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.27% of the company’s stock.

Hedge Funds Weigh In On Lowe’s Companies

Institutional investors have recently bought and sold shares of the business. Activest Wealth Management boosted its holdings in shares of Lowe’s Companies by 78.5% in the 3rd quarter. Activest Wealth Management now owns 116 shares of the home improvement retailer’s stock worth $29,000 after purchasing an additional 51 shares during the period. Howard Hughes Medical Institute purchased a new position in Lowe’s Companies during the second quarter worth $27,000. United Financial Planning Group LLC bought a new position in Lowe’s Companies during the third quarter valued at $31,000. Solstein Capital LLC increased its position in Lowe’s Companies by 627.8% during the second quarter. Solstein Capital LLC now owns 131 shares of the home improvement retailer’s stock valued at $29,000 after acquiring an additional 113 shares during the last quarter. Finally, Traub Capital Management LLC purchased a new stake in shares of Lowe’s Companies in the second quarter valued at $30,000. Institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Company Profile

(Get Free Report)

Lowe’s Companies, Inc is a leading home improvement retailer that operates large-format stores and digital channels serving both do-it-yourself homeowners and professional contractors. The company offers a broad assortment of products including building materials, lumber, appliances, tools and hardware, plumbing and electrical supplies, paint, flooring, kitchen and bath fixtures, outdoor and garden products, and home decor. Lowe’s also provides a range of services such as installation, home improvement financing, tool and equipment rental, and contractor-focused sales programs.

Operations are centered on a nationwide brick-and-mortar store network supported by distribution centers and an e-commerce platform that enables online ordering, delivery and in-store pickup.

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