Royal Bank of Canada Has Lowered Expectations for Lowe’s Companies (NYSE:LOW) Stock Price

Lowe’s Companies (NYSE:LOW) had its price target reduced by research analysts at Royal Bank of Canada from $292.00 to $285.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a “sector perform” rating on the home improvement retailer’s stock. Royal Bank of Canada’s price objective would indicate a potential upside of 14.59% from the stock’s previous close.

A number of other equities analysts also recently commented on the company. Telsey Advisory Group restated an “outperform” rating and issued a $305.00 target price on shares of Lowe’s Companies in a research note on Wednesday. Wedbush restated a “neutral” rating and set a $250.00 price objective on shares of Lowe’s Companies in a research report on Thursday, December 12th. Guggenheim reaffirmed a “buy” rating and issued a $300.00 target price on shares of Lowe’s Companies in a research report on Thursday, December 12th. Sanford C. Bernstein boosted their price target on shares of Lowe’s Companies from $301.00 to $304.00 and gave the company an “outperform” rating in a report on Thursday, December 12th. Finally, Stifel Nicolaus upped their price target on shares of Lowe’s Companies from $265.00 to $270.00 and gave the stock a “hold” rating in a research report on Wednesday, December 11th. Ten equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $280.83.

Lowe’s Companies Trading Up 1.3 %

Shares of NYSE LOW opened at $248.71 on Thursday. The company has a market capitalization of $140.43 billion, a price-to-earnings ratio of 20.74, a price-to-earnings-growth ratio of 1.96 and a beta of 1.11. Lowe’s Companies has a twelve month low of $211.80 and a twelve month high of $287.01. The business has a 50 day simple moving average of $252.52 and a 200-day simple moving average of $258.89.

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

Institutional Investors Weigh In On Lowe’s Companies

Institutional investors and hedge funds have recently bought and sold shares of the business. Klingenstein Fields & Co. LP raised its holdings in shares of Lowe’s Companies by 1.0% in the 4th 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 in the last quarter. Mitchell Mcleod Pugh & Williams Inc. increased its holdings in shares of Lowe’s Companies by 0.5% in the third quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 7,460 shares of the home improvement retailer’s stock valued at $2,021,000 after buying an additional 40 shares in the last quarter. Saxony Capital Management LLC lifted its position in shares of Lowe’s Companies by 4.2% during the 4th quarter. Saxony Capital Management LLC now owns 994 shares of the home improvement retailer’s stock valued at $245,000 after acquiring an additional 40 shares during the last quarter. Powers Advisory Group LLC boosted its stake in shares of Lowe’s Companies by 2.7% during the 4th quarter. Powers Advisory Group LLC now owns 1,541 shares of the home improvement retailer’s stock worth $380,000 after acquiring an additional 40 shares in the last quarter. Finally, Gen Wealth Partners Inc grew its holdings in shares of Lowe’s Companies by 1.9% in the 4th quarter. Gen Wealth Partners Inc now owns 2,163 shares of the home improvement retailer’s stock worth $534,000 after acquiring an additional 40 shares during the last quarter. 74.06% of the stock is owned by institutional investors and hedge funds.

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.