Lowe’s Companies (NYSE:LOW) Given New $320.00 Price Target at Robert W. Baird

Lowe’s Companies (NYSE:LOW) had its price target increased by Robert W. Baird from $290.00 to $320.00 in a research note issued to investors on Tuesday,MarketScreener reports. They currently have an outperform rating on the home improvement retailer’s stock.

LOW has been the subject of a number of other research reports. Barclays upgraded Lowe’s Companies from an “equal weight” rating to an “overweight” rating and set a $285.00 target price for the company in a report on Wednesday, January 7th. Stifel Nicolaus increased their price objective on Lowe’s Companies from $230.00 to $250.00 and gave the stock a “hold” rating in a research note on Monday, December 1st. Morgan Stanley lifted their target price on Lowe’s Companies from $270.00 to $296.00 and gave the company an “overweight” rating in a research note on Thursday, January 15th. Telsey Advisory Group reissued an “outperform” rating and issued a $285.00 price target on shares of Lowe’s Companies in a research report on Wednesday. Finally, Argus decreased their price target on shares of Lowe’s Companies from $290.00 to $286.00 and set a “buy” rating for the company in a report on Tuesday, December 2nd. Twenty investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Lowe’s Companies presently has a consensus rating of “Moderate Buy” and a consensus price target of $289.41.

Lowe’s Companies Stock Performance

Shares of Lowe’s Companies stock traded up $2.00 during trading on Tuesday, hitting $283.16. 111,424 shares of the stock were exchanged, compared to its average volume of 2,812,111. Lowe’s Companies has a 12 month low of $206.38 and a 12 month high of $293.06. The stock’s fifty day moving average is $262.65 and its 200 day moving average is $252.73. The stock has a market cap of $158.84 billion, a PE ratio of 23.45, a P/E/G ratio of 4.48 and a beta of 0.97.

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, topping analysts’ consensus estimates of $2.97 by $0.09. Lowe’s Companies had a net margin of 8.05% and a negative return on equity of 55.86%. The company had revenue of $20.81 billion for the quarter, compared to the consensus estimate of $20.88 billion. During the same period in the previous year, the firm earned $2.89 EPS. Lowe’s Companies’s revenue was up 3.2% on a year-over-year basis. Sell-side analysts anticipate that Lowe’s Companies will post 11.9 EPS for the current fiscal year.

Insider Buying and Selling

In other Lowe’s Companies news, CEO Marvin R. Ellison sold 18,000 shares of the 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 transaction, the chief executive officer owned 231,043 shares of the company’s stock, valued at approximately $60,341,500.31. This represents a 7.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.27% of the company’s stock.

Institutional Investors Weigh In On Lowe’s Companies

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of Lowe’s Companies by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 56,230,787 shares of the home improvement retailer’s stock valued at $13,560,617,000 after acquiring an additional 924,625 shares during the period. State Street Corp lifted its stake in Lowe’s Companies by 0.5% in the 3rd quarter. State Street Corp now owns 25,036,276 shares of the home improvement retailer’s stock valued at $6,291,867,000 after purchasing an additional 124,501 shares during the last quarter. Geode Capital Management LLC grew its holdings in Lowe’s Companies by 7.1% during the fourth quarter. Geode Capital Management LLC now owns 13,326,581 shares of the home improvement retailer’s stock worth $3,201,329,000 after purchasing an additional 887,579 shares during the period. Norges Bank acquired a new position in Lowe’s Companies during the fourth quarter worth approximately $1,993,697,000. Finally, Northern Trust Corp increased its position in Lowe’s Companies by 1.5% during the third quarter. Northern Trust Corp now owns 6,830,080 shares of the home improvement retailer’s stock worth $1,716,467,000 after buying an additional 103,827 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 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.