Wells Fargo & Company Lowers Lowe's Companies (NYSE:LOW) Price Target to $260.00

Lowe's Companies (NYSE:LOW - Get Free Report) had its price objective decreased by analysts at Wells Fargo & Company from $285.00 to $260.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has an "overweight" rating on the home improvement retailer's stock. Wells Fargo & Company's target price points to a potential upside of 16.24% from the company's previous close.

A number of other brokerages have also recently issued reports on LOW. KeyCorp raised shares of Lowe's Companies from a "sector weight" rating to an "overweight" rating and set a $266.00 price objective on the stock in a research note on Friday, April 25th. Mizuho decreased their price objective on shares of Lowe's Companies from $305.00 to $300.00 and set an "outperform" rating on the stock in a research note on Thursday, February 27th. Bank of America cut their target price on shares of 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. JPMorgan Chase & Co. lowered their price objective on Lowe's Companies from $300.00 to $263.00 and set an "overweight" rating for the company in a research note on Tuesday. Finally, StockNews.com upgraded Lowe's Companies from a "hold" rating to a "buy" rating in a research report on Tuesday, April 15th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, Lowe's Companies has an average rating of "Moderate Buy" and a consensus target price of $278.04.

Lowe's Companies Stock Up 0.3 %

Shares of Lowe's Companies stock opened at $223.67 on Thursday. Lowe's Companies has a 12-month low of $206.39 and a 12-month high of $287.01. The stock has a 50 day moving average price of $226.03 and a two-hundred day moving average price of $247.89. The stock has a market capitalization of $125.19 billion, a P/E ratio of 18.65, a PEG ratio of 1.96 and a beta of 1.00.

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

Hedge Funds Weigh In On Lowe's Companies

Several institutional investors have recently bought and sold shares of LOW. Principal Financial Group Inc. raised its stake in Lowe's Companies by 4.0% in the 3rd quarter. Principal Financial Group Inc. now owns 649,601 shares of the home improvement retailer's stock valued at $175,944,000 after acquiring an additional 24,812 shares during the period. Miracle Mile Advisors LLC lifted its position in shares of Lowe's Companies by 288.6% during the fourth quarter. Miracle Mile Advisors LLC now owns 19,028 shares of the home improvement retailer's stock worth $4,696,000 after acquiring an additional 14,132 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Lowe's Companies by 1.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 362,209 shares of the home improvement retailer's stock worth $98,104,000 after acquiring an additional 4,435 shares during the period. Nations Financial Group Inc. IA ADV grew its position in shares of Lowe's Companies by 2.6% in the fourth quarter. Nations Financial Group Inc. IA ADV now owns 19,830 shares of the home improvement retailer's stock valued at $4,894,000 after purchasing an additional 501 shares in the last quarter. Finally, World Investment Advisors raised its stake in shares of Lowe's Companies by 11.0% during the 4th quarter. World Investment Advisors now owns 26,329 shares of the home improvement retailer's stock valued at $6,498,000 after purchasing an additional 2,615 shares during the period. 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.

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