Truist Financial Boosts Lowe’s Companies (NYSE:LOW) Price Target to $310.00

Lowe’s Companies (NYSE:LOW) had its price target raised by Truist Financial from $307.00 to $310.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the home improvement retailer’s stock. Truist Financial’s price objective would indicate a potential upside of 16.76% from the stock’s current price.

LOW has been the subject of several other reports. Oppenheimer upgraded Lowe’s Companies from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $230.00 to $305.00 in a research report on Tuesday, September 24th. Bank of America raised 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 note on Friday, October 11th. Morgan Stanley raised their price target on shares of Lowe’s Companies from $250.00 to $255.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Wedbush reissued a “neutral” rating and set a $250.00 price target on shares of Lowe’s Companies in a research report on Wednesday, August 21st. Finally, Melius Research began coverage on shares of Lowe’s Companies in a research note on Monday, September 23rd. They set a “buy” rating and a $290.00 price objective on the stock. Ten analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $277.92.

Lowe’s Companies Stock Performance

NYSE:LOW opened at $265.50 on Wednesday. The stock has a market cap of $150.62 billion, a P/E ratio of 22.14, a P/E/G ratio of 2.15 and a beta of 1.10. Lowe’s Companies has a 1 year low of $196.23 and a 1 year high of $287.01. The stock has a 50-day simple moving average of $268.56 and a 200-day simple moving average of $244.50.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings data 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. Lowe’s Companies had a negative return on equity of 47.55% and a net margin of 8.19%. The business had revenue of $23.59 billion for the quarter, compared to analysts’ expectations of $23.93 billion. During the same quarter last year, the firm earned $4.56 earnings per share. The business’s revenue was down 5.5% on a year-over-year basis. On average, equities research analysts predict that Lowe’s Companies will post 11.82 EPS for the current year.

Insider Activity

In other Lowe’s Companies news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the business’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 sale, the chief accounting officer now directly owns 9,383 shares in the company, valued at approximately $2,334,678.06. The trade was a 41.91 % decrease in their ownership of the stock. 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 company’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 completion of the transaction, the executive vice president now owns 13,214 shares of the company’s stock, valued at $3,586,940.30. The trade was a 30.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.26% of the company’s stock.

Hedge Funds Weigh In On Lowe’s Companies

A number of hedge funds have recently modified their holdings of the stock. FMR LLC lifted its position in shares of Lowe’s Companies by 10.2% in the third quarter. FMR LLC now owns 26,010,730 shares of the home improvement retailer’s stock worth $7,045,006,000 after buying an additional 2,399,897 shares during the last quarter. State Street Corp raised its stake in Lowe’s Companies by 1.9% during the 3rd quarter. State Street Corp now owns 25,013,655 shares of the home improvement retailer’s stock worth $6,774,948,000 after buying an additional 460,851 shares during the period. Geode Capital Management LLC increased its holdings in Lowe’s Companies by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 11,733,461 shares of the home improvement retailer’s stock worth $3,169,041,000 after purchasing an additional 187,473 shares in the last quarter. Legal & General Group Plc grew its holdings in shares of Lowe’s Companies by 1.6% in the 2nd quarter. Legal & General Group Plc now owns 5,205,491 shares of the home improvement retailer’s stock valued at $1,147,603,000 after acquiring an additional 82,978 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Lowe’s Companies by 1.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,369,052 shares of the home improvement retailer’s stock worth $912,508,000 after acquiring an additional 39,953 shares during the last quarter. 74.06% of the stock is currently owned by institutional investors and hedge funds.

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.