Lowe's Companies (NYSE:LOW) Given New $263.00 Price Target at JPMorgan Chase & Co.

Lowe's Companies (NYSE:LOW - Get Free Report) had its price objective dropped by analysts at JPMorgan Chase & Co. from $300.00 to $263.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has an "overweight" rating on the home improvement retailer's stock. JPMorgan Chase & Co.'s price target would suggest a potential upside of 16.74% from the company's previous close.

LOW has been the subject of a number of other reports. Piper Sandler cut their price objective 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. Truist Financial reduced their price target on shares of Lowe's Companies from $295.00 to $258.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Telsey Advisory Group reissued an "outperform" rating and set a $305.00 price target on shares of Lowe's Companies in a research note on Tuesday, April 15th. Mizuho cut their price objective on shares of Lowe's Companies from $305.00 to $300.00 and set an "outperform" rating for the company in a research note on Thursday, February 27th. Finally, Royal Bank of Canada decreased their target price on shares of Lowe's Companies from $292.00 to $285.00 and set a "sector perform" rating on the stock in a research report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and sixteen have issued a buy rating to the company's stock. According to MarketBeat.com, Lowe's Companies presently has an average rating of "Moderate Buy" and a consensus price target of $277.92.

Lowe's Companies Stock Performance

Lowe's Companies stock opened at $225.30 on Tuesday. The stock has a market cap of $126.10 billion, a P/E ratio of 18.79, a PEG ratio of 1.96 and a beta of 1.07. Lowe's Companies has a fifty-two week low of $206.39 and a fifty-two week high of $287.01. The firm's fifty day moving average price is $226.99 and its 200-day moving average price is $248.24.

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

Hedge Funds Weigh In On Lowe's Companies

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Y Intercept Hong Kong Ltd lifted its stake in Lowe's Companies by 116.9% in the 1st quarter. Y Intercept Hong Kong Ltd now owns 3,099 shares of the home improvement retailer's stock worth $723,000 after purchasing an additional 1,670 shares in the last quarter. Van Strum & Towne Inc. increased its stake in Lowe's Companies by 78.7% in the 1st quarter. Van Strum & Towne Inc. now owns 4,540 shares of the home improvement retailer's stock worth $1,059,000 after acquiring an additional 2,000 shares during the last quarter. Crestwood Advisors Group LLC boosted its position in shares of Lowe's Companies by 4.0% during the 1st quarter. Crestwood Advisors Group LLC now owns 9,153 shares of the home improvement retailer's stock valued at $2,135,000 after acquiring an additional 353 shares during the last quarter. Hazlett Burt & Watson Inc. grew its holdings in shares of Lowe's Companies by 13.2% in the first quarter. Hazlett Burt & Watson Inc. now owns 1,694 shares of the home improvement retailer's stock valued at $397,000 after purchasing an additional 198 shares in the last quarter. Finally, Edgemoor Investment Advisors Inc. raised its stake in Lowe's Companies by 0.4% during the first quarter. Edgemoor Investment Advisors Inc. now owns 201,762 shares of the home improvement retailer's stock valued at $47,057,000 after purchasing an additional 803 shares in the last quarter. Institutional investors 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.

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