Lowe’s Companies (NYSE:LOW) Price Target Raised to $305.00 at Bank of America

Lowe’s Companies (NYSE:LOW) had its price objective boosted by research analysts at Bank of America from $275.00 to $305.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the home improvement retailer’s stock. Bank of America‘s price target would indicate a potential upside of 10.75% from the stock’s current price.

LOW has been the topic of several other research reports. Wells Fargo & Company cut their target price on Lowe’s Companies from $290.00 to $280.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 21st. UBS Group increased their price target on shares of Lowe’s Companies from $270.00 to $290.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Morgan Stanley boosted their price objective on shares of Lowe’s Companies from $250.00 to $255.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. TD Cowen raised their target price on Lowe’s Companies from $240.00 to $265.00 and gave the company a “hold” rating in a report on Thursday, September 19th. Finally, Telsey Advisory Group boosted their price target on Lowe’s Companies from $230.00 to $275.00 and gave the stock a “market perform” rating in a report on Wednesday, October 2nd. Eleven investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, Lowe’s Companies has a consensus rating of “Moderate Buy” and an average target price of $266.88.

Lowe’s Companies Price Performance

LOW traded up $2.19 during mid-day trading on Friday, hitting $275.40. The stock had a trading volume of 532,532 shares, compared to its average volume of 2,460,953. Lowe’s Companies has a 1-year low of $181.85 and a 1-year high of $278.10. The firm has a market capitalization of $156.23 billion, a price-to-earnings ratio of 22.84, a price-to-earnings-growth ratio of 2.28 and a beta of 1.10. The stock’s fifty day simple moving average is $252.10 and its 200-day simple moving average is $237.64.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share (EPS) 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 the consensus estimate of $23.93 billion. Lowe’s Companies had a negative return on equity of 47.07% and a net margin of 8.25%. The company’s revenue for the quarter was down 5.5% compared to the same quarter last year. During the same period in the prior year, the company earned $4.56 earnings per share. As a group, research analysts expect that Lowe’s Companies will post 11.91 earnings per share for the current fiscal year.

Insider Buying and Selling at Lowe’s Companies

In other Lowe’s Companies news, EVP Margrethe R. Vagell sold 5,730 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $271.45, for a total transaction of $1,555,408.50. Following the completion of the sale, the executive vice president now directly owns 13,214 shares of the company’s stock, valued at approximately $3,586,940.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $248.82, for a total value of $1,684,262.58. Following the completion of the transaction, the chief accounting officer now directly owns 9,383 shares in the company, valued at approximately $2,334,678.06. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Margrethe R. Vagell sold 5,730 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $271.45, for a total value of $1,555,408.50. Following the transaction, the executive vice president now directly owns 13,214 shares in the company, valued at approximately $3,586,940.30. This represents a 0.00 % 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 Investors Weigh In On Lowe’s Companies

Hedge funds have recently made changes to their positions in the business. Clean Yield Group lifted its stake in shares of Lowe’s Companies by 2.4% in the 3rd quarter. Clean Yield Group now owns 1,599 shares of the home improvement retailer’s stock valued at $433,000 after acquiring an additional 38 shares during the last quarter. Drive Wealth Management LLC boosted its position in Lowe’s Companies by 2.2% during the 2nd quarter. Drive Wealth Management LLC now owns 1,894 shares of the home improvement retailer’s stock valued at $418,000 after buying an additional 41 shares during the period. Chapin Davis Inc. grew its holdings in Lowe’s Companies by 1.3% in the 3rd quarter. Chapin Davis Inc. now owns 3,082 shares of the home improvement retailer’s stock worth $835,000 after acquiring an additional 41 shares during the last quarter. Crown Wealth Group LLC raised its stake in shares of Lowe’s Companies by 4.4% during the second quarter. Crown Wealth Group LLC now owns 1,051 shares of the home improvement retailer’s stock valued at $232,000 after acquiring an additional 44 shares during the last quarter. Finally, Pure Financial Advisors LLC boosted its holdings in shares of Lowe’s Companies by 2.5% during the second quarter. Pure Financial Advisors LLC now owns 1,813 shares of the home improvement retailer’s stock worth $400,000 after purchasing an additional 45 shares during the period. 74.06% of the stock is currently owned by institutional investors.

About Lowe’s Companies

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.