Top 5 Losers Today

2. Lowe’s Companies, Inc. (NYSE:LOW)

Number of Hedge Fund Holders: 53

Shares of Lowe’s Companies, Inc. (NYSE:LOW) slipped over two percent this morning after Evercore ISI lowered its ratings for the home improvement retailer from “Outperform” to “In Line.”

Analyst Greg Melich expressed concerns over decelerating home improvement demand that could affect Lowe’s growth trajectory. Melich also cut his price target for Lowe’s Companies, Inc. (NYSE:LOW) from $220 per share to $210 per share.

Separately, asset management firm Baron Funds briefly discussed Lowe’s Companies, Inc. (NYSE:LOW) in its second-quarter 2022 investor letter. Here’s what the firm said:

“Lowe’s Companies, Inc. is the second largest home improvement center in the U.S. Its shares declined 33% in the first six months of 2022 and are currently valued at only 13.5 times estimated earnings per share versus a long-term average P/E multiple of approximately 18 times estimated earnings per share.”