Evercore ISI Forecasts Strong Price Appreciation for Lowe’s Companies (NYSE:LOW) Stock

Lowe’s Companies (NYSE:LOW) had its target price raised by equities researchers at Evercore ISI from $250.00 to $280.00 in a research note issued on Tuesday,MarketScreener reports. Evercore ISI’s target price points to a potential upside of 6.13% from the company’s previous close.

Other equities research analysts also recently issued reports about the stock. Telsey Advisory Group reduced their price objective on shares of Lowe’s Companies from $305.00 to $285.00 and set an “outperform” rating for the company in a research report on Thursday, November 20th. Barclays upgraded Lowe’s Companies from an “equal weight” rating to an “overweight” rating and set a $285.00 target price on the stock in a research note on Wednesday, January 7th. Sanford C. Bernstein increased their price target on Lowe’s Companies from $282.00 to $284.00 and gave the company an “outperform” rating in a research report on Thursday, November 20th. Robert W. Baird cut their price objective on Lowe’s Companies from $295.00 to $290.00 and set an “outperform” rating on the stock in a research report on Thursday, November 20th. Finally, JPMorgan Chase & Co. upped their price objective on Lowe’s Companies from $275.00 to $300.00 and gave the company an “overweight” rating in a research note on Thursday, November 20th. Nineteen equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $284.81.

Lowe’s Companies Price Performance

Shares of LOW stock traded down $2.82 during trading hours on Tuesday, reaching $263.82. The company had a trading volume of 366,799 shares, compared to its average volume of 2,837,942. The company has a market cap of $147.99 billion, a price-to-earnings ratio of 21.90, a price-to-earnings-growth ratio of 4.47 and a beta of 0.96. Lowe’s Companies has a 12 month low of $206.38 and a 12 month high of $281.36. The business has a fifty day simple moving average of $253.00 and a 200-day simple moving average of $247.35.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings results on Wednesday, November 26th. The home improvement retailer reported $3.06 EPS for the quarter, beating analysts’ consensus estimates of $2.97 by $0.09. The business had revenue of $20.81 billion during the quarter, compared to analyst estimates of $20.88 billion. Lowe’s Companies had a negative return on equity of 55.86% and a net margin of 8.05%.Lowe’s Companies’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.89 EPS. On average, equities research analysts expect that Lowe’s Companies will post 11.9 earnings per share for the current year.

Insider Buying and Selling at Lowe’s Companies

In related news, CEO Marvin R. Ellison sold 18,000 shares of Lowe’s Companies stock in a transaction dated Friday, January 9th. The stock was sold at an average price of $261.17, for a total value of $4,701,060.00. Following the completion of the sale, the chief executive officer owned 231,043 shares of the company’s stock, valued at approximately $60,341,500.31. This trade represents a 7.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.27% of the company’s stock.

Hedge Funds Weigh In On Lowe’s Companies

Several large investors have recently modified their holdings of LOW. QRG Capital Management Inc. increased its stake in Lowe’s Companies by 2.6% in the 2nd quarter. QRG Capital Management Inc. now owns 154,692 shares of the home improvement retailer’s stock worth $34,322,000 after purchasing an additional 3,947 shares during the period. Maj Invest Holding A S raised its holdings in Lowe’s Companies by 15.7% during the 3rd quarter. Maj Invest Holding A S now owns 802,990 shares of the home improvement retailer’s stock valued at $201,801,000 after buying an additional 108,813 shares during the last quarter. Facet Wealth Inc. purchased a new stake in Lowe’s Companies during the 3rd quarter valued at $558,000. Prudential Financial Inc. grew its holdings in Lowe’s Companies by 0.7% in the 2nd quarter. Prudential Financial Inc. now owns 826,356 shares of the home improvement retailer’s stock worth $183,344,000 after acquiring an additional 5,820 shares during the last quarter. Finally, Jennison Associates LLC increased its position in shares of Lowe’s Companies by 22.0% in the second quarter. Jennison Associates LLC now owns 497,628 shares of the home improvement retailer’s stock valued at $110,409,000 after acquiring an additional 89,839 shares during the period. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Company Profile

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.