Citigroup Has Lowered Expectations for Lowe's Companies (NYSE:LOW) Stock Price

Key Points

• Citigroup has downgraded its price target for Lowe's Companies from $253.00 to $242.00, maintaining a "neutral" rating on the stock.
• Lowe's shares experienced a 1.7% decrease on Thursday, dropping to $223.55, with a market capitalization of $125.28 billion.
• Despite recent downgrades, Lowe's still holds a consensus rating of "Moderate Buy" from analysts, with an average price target of $270.68.

Lowe's Companies (NYSE:LOW - Get Free Report) had its price target decreased by equities research analysts at Citigroup from $253.00 to $242.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a "neutral" rating on the home improvement retailer's stock. Citigroup's price target suggests a potential upside of 8.26% from the company's current price.

LOW has been the subject of a number of other research reports. DA Davidson dropped their target price on shares of Lowe's Companies from $270.00 to $240.00 and set a "neutral" rating for the company in a report on Thursday, May 22nd. Stifel Nicolaus dropped their target price on Lowe's Companies from $250.00 to $240.00 and set a "hold" rating for the company in a research report on Tuesday, May 27th. Telsey Advisory Group reiterated an "outperform" rating and issued a $305.00 target price on shares of Lowe's Companies in a research report on Wednesday, May 21st. Truist Financial set a $264.00 target price on Lowe's Companies and gave the company a "buy" rating in a research report on Thursday, May 22nd. Finally, Robert W. Baird dropped their target price on Lowe's Companies from $295.00 to $285.00 and set an "outperform" rating for the company in a research report on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $270.68.

Lowe's Companies Stock Down 1.7%

Shares of NYSE:LOW traded down $3.89 during trading on Thursday, reaching $223.55. 2,778,368 shares of the company traded hands, compared to its average volume of 2,645,786. The company's 50 day moving average is $222.93 and its two-hundred day moving average is $232.09. The firm has a market capitalization of $125.28 billion, a PE ratio of 18.52, a PEG ratio of 2.17 and a beta of 0.90. Lowe's Companies has a 52 week low of $206.38 and a 52 week high of $287.01.

Lowe's Companies (NYSE:LOW - Get Free Report) last released its quarterly earnings data on Wednesday, May 21st. The home improvement retailer reported $2.92 earnings per share for the quarter, beating the consensus estimate of $2.88 by $0.04. The business had revenue of $20.93 billion for the quarter, compared to analyst estimates of $21.09 billion. Lowe's Companies had a negative return on equity of 49.12% and a net margin of 8.22%. Lowe's Companies's revenue was down 2.0% compared to the same quarter last year. During the same period last year, the firm posted $3.06 earnings per share. As a group, research analysts anticipate that Lowe's Companies will post 11.9 EPS for the current year.

Insider Buying and Selling

In other Lowe's Companies news, EVP Juliette Williams Pryor sold 1,130 shares of the business's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $227.50, for a total value of $257,075.00. Following the sale, the executive vice president directly owned 31,898 shares in the company, valued at $7,256,795. The trade was a 3.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.27% of the company's stock.

Hedge Funds Weigh In On Lowe's Companies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LOW. Brighton Jones LLC increased its stake in Lowe's Companies by 119.7% in the 4th quarter. Brighton Jones LLC now owns 31,965 shares of the home improvement retailer's stock worth $7,889,000 after purchasing an additional 17,413 shares during the period. Revolve Wealth Partners LLC raised its holdings in Lowe's Companies by 31.6% during the 4th quarter. Revolve Wealth Partners LLC now owns 1,078 shares of the home improvement retailer's stock valued at $266,000 after buying an additional 259 shares during the last quarter. Bryce Point Capital LLC purchased a new stake in Lowe's Companies during the 4th quarter valued at $557,000. OneAscent Financial Services LLC boosted its position in Lowe's Companies by 15.6% during the 4th quarter. OneAscent Financial Services LLC now owns 4,243 shares of the home improvement retailer's stock valued at $1,047,000 after buying an additional 573 shares during the period. Finally, Nicolet Advisory Services LLC boosted its position in Lowe's Companies by 6.6% during the 4th quarter. Nicolet Advisory Services LLC now owns 3,673 shares of the home improvement retailer's stock valued at $911,000 after buying an additional 227 shares during the period. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

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.

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