Morgan Stanley Issues Pessimistic Forecast for Lowe’s Companies (NYSE:LOW) Stock Price

Lowe’s Companies (NYSE:LOW) had its price objective decreased by research analysts at Morgan Stanley from $300.00 to $255.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has an “overweight” rating on the home improvement retailer’s stock. Morgan Stanley’s price objective indicates a potential upside of 14.36% from the stock’s current price.

Several other equities analysts also recently commented on LOW. Bank of America decreased their target price on Lowe’s Companies from $305.00 to $290.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. StockNews.com raised Lowe’s Companies from a “hold” rating to a “buy” rating in a report on Tuesday, April 15th. Piper Sandler dropped their target price on Lowe’s Companies from $296.00 to $269.00 and set an “overweight” rating for the company in a report on Monday, March 24th. Royal Bank of Canada decreased their price target on shares of Lowe’s Companies from $292.00 to $285.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 27th. Finally, Truist Financial dropped their price objective on shares of Lowe’s Companies from $295.00 to $258.00 and set a “buy” rating for the company in a research note on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Lowe’s Companies presently has a consensus rating of “Moderate Buy” and a consensus price target of $277.92.

Lowe’s Companies Price Performance

Shares of LOW stock opened at $222.98 on Monday. The stock has a market cap of $124.80 billion, a PE ratio of 18.60, a price-to-earnings-growth ratio of 1.96 and a beta of 1.00. The stock has a 50-day moving average of $226.53 and a 200-day moving average of $248.06. Lowe’s Companies has a one year low of $206.39 and a one year high of $287.01.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings results on Wednesday, February 26th. The home improvement retailer reported $1.93 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $18.55 billion for the quarter, compared to analyst estimates of $18.29 billion. As a group, research analysts anticipate that Lowe’s Companies will post 11.9 earnings per share for the current year.

Institutional Trading of Lowe’s Companies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LOW. Norges Bank purchased a new position in Lowe’s Companies in the 4th quarter worth approximately $1,842,954,000. Pacer Advisors Inc. raised its stake in shares of Lowe’s Companies by 2,984.6% in the first quarter. Pacer Advisors Inc. now owns 2,038,069 shares of the home improvement retailer’s stock worth $475,339,000 after purchasing an additional 1,971,996 shares during the last quarter. Kovitz Investment Group Partners LLC lifted its holdings in shares of Lowe’s Companies by 350.2% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 2,373,460 shares of the home improvement retailer’s stock valued at $585,770,000 after purchasing an additional 1,846,315 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Lowe’s Companies by 26,796.0% during the first quarter. GAMMA Investing LLC now owns 1,657,332 shares of the home improvement retailer’s stock valued at $386,540,000 after buying an additional 1,651,170 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Lowe’s Companies in the 4th quarter worth about $314,435,000. Hedge funds and other 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.