Truist Financial Raises Lowe’s Companies (NYSE:LOW) Price Target to $306.00

Lowe’s Companies (NYSE:LOW) had its target price upped by research analysts at Truist Financial from $269.00 to $306.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the home improvement retailer’s stock. Truist Financial’s price objective suggests a potential upside of 10.16% from the company’s current price.

A number of other analysts have also issued reports on the stock. Gordon Haskett reduced their price target on shares of Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating for the company in a research report 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. Bank of America increased their price target on shares of Lowe’s Companies from $275.00 to $305.00 and gave the stock a “buy” rating in a research report on Friday. Morgan Stanley increased their price target on shares of Lowe’s Companies from $250.00 to $255.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Finally, Wells Fargo & Company reduced their price target on shares of Lowe’s Companies from $290.00 to $280.00 and set an “overweight” rating for the company in a research report on Wednesday, August 21st. Eleven equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Lowe’s Companies has a consensus rating of “Moderate Buy” and a consensus price target of $268.42.

Lowe’s Companies Trading Up 0.7 %

LOW stock traded up $2.01 during mid-day trading on Monday, reaching $277.77. 148,309 shares of the stock traded hands, compared to its average volume of 2,453,168. Lowe’s Companies has a 52-week low of $181.85 and a 52-week high of $278.10. The company has a market cap of $158.28 billion, a P/E ratio of 22.24, a P/E/G ratio of 2.28 and a beta of 1.10. The stock’s fifty day moving average is $252.80 and its 200-day moving average is $237.58.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings data on Tuesday, August 20th. The home improvement retailer reported $4.10 EPS for the quarter, beating analysts’ consensus estimates of $3.96 by $0.14. Lowe’s Companies had a net margin of 8.25% and a negative return on equity of 47.07%. The company had revenue of $23.59 billion during the quarter, compared to analyst estimates of $23.93 billion. During the same period in the prior year, the firm earned $4.56 earnings per share. The business’s quarterly revenue was down 5.5% on a year-over-year basis. Equities research analysts expect that Lowe’s Companies will post 11.91 earnings per share for the current year.

Insider Buying and Selling at Lowe’s Companies

In other 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 owns 9,383 shares in the company, valued at approximately $2,334,678.06. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, EVP Margrethe R. Vagell sold 5,730 shares of the firm’s stock in a transaction on 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 sale, the executive vice president now owns 13,214 shares in the company, valued at approximately $3,586,940.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the firm’s stock in a transaction 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 trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.26% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Keener Financial Planning LLC bought a new position in Lowe’s Companies in the first quarter worth $35,000. Stephens Consulting LLC lifted its position in Lowe’s Companies by 93.3% in the second quarter. Stephens Consulting LLC now owns 145 shares of the home improvement retailer’s stock worth $32,000 after purchasing an additional 70 shares during the period. Kimelman & Baird LLC bought a new position in Lowe’s Companies in the second quarter worth $37,000. Tradewinds Capital Management LLC lifted its position in Lowe’s Companies by 54.7% in the first quarter. Tradewinds Capital Management LLC now owns 198 shares of the home improvement retailer’s stock worth $50,000 after purchasing an additional 70 shares during the period. Finally, Forbes J M & Co. LLP bought a new position in shares of Lowe’s Companies during the first quarter valued at $51,000. 74.06% of the stock is owned by 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.