Royal Bank of Canada Lowers Lowe’s Companies (NYSE:LOW) Price Target to $285.00

Lowe’s Companies (NYSE:LOW) had its price target lowered by Royal Bank of Canada from $292.00 to $285.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “sector perform” rating on the home improvement retailer’s stock. Royal Bank of Canada’s price objective suggests a potential upside of 15.73% from the stock’s previous close.

Several other analysts also recently weighed in on the company. Mizuho lowered their price objective on Lowe’s Companies from $305.00 to $300.00 and set an “outperform” rating for the company in a research report on Thursday. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $305.00 target price on shares of Lowe’s Companies in a research note on Wednesday. Guggenheim reissued a “buy” rating and set a $300.00 price target on shares of Lowe’s Companies in a research report on Thursday, December 12th. DA Davidson boosted their price objective on shares of Lowe’s Companies from $240.00 to $270.00 and gave the company a “neutral” rating in a research report on Wednesday, November 20th. Finally, StockNews.com raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a research note on Friday, January 17th. Ten analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $280.83.

Lowe’s Companies Stock Performance

NYSE:LOW traded down $0.80 during trading hours on Thursday, reaching $246.27. The company’s stock had a trading volume of 663,988 shares, compared to its average volume of 2,338,263. The firm has a market capitalization of $139.06 billion, a price-to-earnings ratio of 20.54, a PEG ratio of 1.96 and a beta of 1.11. The firm has a 50-day simple moving average of $252.48 and a 200-day simple moving average of $258.86. Lowe’s Companies has a 1 year low of $211.80 and a 1 year high of $287.01.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings data on Wednesday, February 26th. The home improvement retailer reported $1.93 EPS for the quarter, topping the consensus estimate of $1.83 by $0.10. Lowe’s Companies had a negative return on equity of 47.55% and a net margin of 8.19%. The firm had revenue of $18.55 billion for the quarter, compared to the consensus estimate of $18.29 billion. Equities analysts anticipate that Lowe’s Companies will post 11.9 earnings per share for the current fiscal year.

Institutional Trading of Lowe’s Companies

Several large investors have recently modified their holdings of the company. Klingenstein Fields & Co. LP boosted its position in Lowe’s Companies by 1.0% in the fourth quarter. Klingenstein Fields & Co. LP now owns 4,101 shares of the home improvement retailer’s stock worth $1,012,000 after purchasing an additional 39 shares during the last quarter. Mitchell Mcleod Pugh & Williams Inc. lifted its stake in shares of Lowe’s Companies by 0.5% in the 3rd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 7,460 shares of the home improvement retailer’s stock worth $2,021,000 after purchasing an additional 40 shares during the period. Saxony Capital Management LLC boosted its holdings in shares of Lowe’s Companies by 4.2% in the fourth quarter. Saxony Capital Management LLC now owns 994 shares of the home improvement retailer’s stock worth $245,000 after buying an additional 40 shares during the last quarter. Powers Advisory Group LLC grew its position in Lowe’s Companies by 2.7% during the fourth quarter. Powers Advisory Group LLC now owns 1,541 shares of the home improvement retailer’s stock valued at $380,000 after buying an additional 40 shares during the period. Finally, Gen Wealth Partners Inc increased its holdings in Lowe’s Companies by 1.9% during the fourth quarter. Gen Wealth Partners Inc now owns 2,163 shares of the home improvement retailer’s stock valued at $534,000 after buying an additional 40 shares during the last quarter. Institutional investors own 74.06% of the company’s stock.

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.