Lowe’s Companies (NYSE:LOW) Given New $290.00 Price Target at Bank of America

Lowe’s Companies (NYSE:LOW) had its target price trimmed by Bank of America from $305.00 to $290.00 in a report released on Thursday morning,Benzinga reports. They currently have a buy rating on the home improvement retailer’s stock.

Several other research firms also recently commented on LOW. Stifel Nicolaus upped their price target on shares of Lowe’s Companies from $265.00 to $270.00 and gave the company a “hold” rating in a research note on Wednesday, December 11th. Royal Bank of Canada upped their target price on Lowe’s Companies from $291.00 to $292.00 and gave the company a “sector perform” rating in a research report on Thursday, December 12th. Evercore ISI raised their target price on shares of Lowe’s Companies from $270.00 to $290.00 and gave the company an “in-line” rating in a report on Thursday, December 12th. DA Davidson upped their price target on shares of Lowe’s Companies from $240.00 to $270.00 and gave the stock a “neutral” rating in a report on Wednesday, November 20th. Finally, Wells Fargo & Company lifted their price objective on shares of Lowe’s Companies from $280.00 to $295.00 and gave the company an “overweight” rating in a research note on Wednesday, November 6th. Ten research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Lowe’s Companies has a consensus rating of “Moderate Buy” and an average target price of $280.83.

Lowe’s Companies Stock Performance

Shares of LOW opened at $245.87 on Thursday. The firm has a market cap of $138.83 billion, a P/E ratio of 20.51, a price-to-earnings-growth ratio of 1.96 and a beta of 1.11. Lowe’s Companies has a 52 week low of $211.80 and a 52 week high of $287.01. The firm’s 50-day simple moving average is $252.50 and its 200 day simple moving average is $258.77.

Lowe’s Companies (NYSE:LOW) last posted its earnings results on Wednesday, February 26th. The home improvement retailer reported $1.93 EPS for the quarter, beating the consensus estimate of $1.83 by $0.10. The company had revenue of $18.55 billion for the quarter, compared to the consensus estimate of $18.29 billion. Lowe’s Companies had a negative return on equity of 47.55% and a net margin of 8.19%. As a group, equities analysts forecast that Lowe’s Companies will post 11.9 earnings per share for the current year.

Hedge Funds Weigh In On Lowe’s Companies

A number of hedge funds have recently modified their holdings of the business. IFS Advisors LLC acquired a new stake in shares of Lowe’s Companies in the fourth quarter valued at about $25,000. Legacy Investment Solutions LLC bought a new stake in Lowe’s Companies during the third quarter valued at $27,000. Winch Advisory Services LLC grew its holdings in Lowe’s Companies by 56.4% during the 4th quarter. Winch Advisory Services LLC now owns 122 shares of the home improvement retailer’s stock worth $30,000 after acquiring an additional 44 shares during the period. Marshall Investment Management LLC bought a new position in shares of Lowe’s Companies in the 4th quarter worth about $31,000. Finally, JNBA Financial Advisors lifted its stake in Lowe’s Companies by 555.6% in the third quarter. JNBA Financial Advisors now owns 118 shares of the home improvement retailer’s stock valued at $32,000 after buying an additional 100 shares during the period. Institutional investors and hedge funds 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.