Citigroup Lowers Lowe’s Companies (NYSE:LOW) Price Target to $240.00

Lowe’s Companies (NYSE:LOW) had its target price lowered by Citigroup from $243.00 to $240.00 in a research report issued on Tuesday, Benzinga reports. The brokerage currently has a “neutral” rating on the home improvement retailer’s stock. Citigroup’s price objective would suggest a potential upside of 3.42% from the stock’s previous close.

A number of other equities research analysts have also weighed in on the stock. Royal Bank of Canada upped their target price on shares of Lowe’s Companies from $190.00 to $246.00 and gave the stock a “sector perform” rating in a report on Wednesday, February 28th. Evercore ISI cut their price target on shares of Lowe’s Companies from $280.00 to $275.00 and set an “in-line” rating for the company in a research note on Tuesday, April 16th. The Goldman Sachs Group increased their price target on shares of Lowe’s Companies from $238.00 to $262.00 and gave the company a “buy” rating in a research report on Tuesday, February 13th. Zelman & Associates reaffirmed a “neutral” rating and issued a $265.00 target price on shares of Lowe’s Companies in a research note on Tuesday, April 2nd. Finally, Oppenheimer reissued a “market perform” rating and set a $230.00 target price on shares of Lowe’s Companies in a research note on Monday, March 4th. Fifteen analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, Lowe’s Companies has an average rating of “Hold” and a consensus price target of $252.67.

Lowe’s Companies Stock Performance

Shares of LOW opened at $232.07 on Tuesday. Lowe’s Companies has a 52-week low of $181.85 and a 52-week high of $262.49. The business’s fifty day moving average is $240.00 and its 200-day moving average is $221.68. The firm has a market cap of $132.79 billion, a price-to-earnings ratio of 17.63, a PEG ratio of 1.72 and a beta of 1.15.

Lowe’s Companies (NYSE:LOW) last posted its earnings results on Tuesday, February 27th. The home improvement retailer reported $1.77 earnings per share for the quarter, topping analysts’ consensus estimates of $1.68 by $0.09. The firm had revenue of $18.60 billion for the quarter, compared to analysts’ expectations of $18.47 billion. Lowe’s Companies had a net margin of 8.94% and a negative return on equity of 51.42%. The company’s revenue was down 17.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.28 earnings per share. As a group, research analysts forecast that Lowe’s Companies will post 12.21 EPS for the current fiscal year.

Hedge Funds Weigh In On Lowe’s Companies

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Private Management Group Inc. raised its holdings in shares of Lowe’s Companies by 4.0% in the 4th quarter. Private Management Group Inc. now owns 1,205 shares of the home improvement retailer’s stock valued at $268,000 after buying an additional 46 shares during the period. McAdam LLC raised its holdings in shares of Lowe’s Companies by 3.5% in the 1st quarter. McAdam LLC now owns 1,363 shares of the home improvement retailer’s stock valued at $347,000 after purchasing an additional 46 shares in the last quarter. First Bank & Trust boosted its position in shares of Lowe’s Companies by 3.1% during the 1st quarter. First Bank & Trust now owns 1,509 shares of the home improvement retailer’s stock worth $384,000 after acquiring an additional 46 shares in the last quarter. First Command Advisory Services Inc. increased its stake in Lowe’s Companies by 1.9% in the fourth quarter. First Command Advisory Services Inc. now owns 2,590 shares of the home improvement retailer’s stock valued at $576,000 after purchasing an additional 48 shares during the last quarter. Finally, Prospect Financial Services LLC lifted its position in Lowe’s Companies by 3.0% in the first quarter. Prospect Financial Services LLC now owns 1,623 shares of the home improvement retailer’s stock valued at $413,000 after acquiring an additional 48 shares during the last quarter. Institutional investors and hedge funds own 74.06% of the company’s stock.

Lowe’s Companies Company Profile

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.