Shares of Lowe’s Companies Inc tanked after the company Wednesday reported mixed first-quarter results.

The announcement came amid an exciting earnings season. Here are some key analyst takeaways.

Truist Securities analyst Scot Ciccarelli reiterated a Buy rating, while raising the price target from $258 to $264.

Telsey Advisory Group analyst Joseph Feldman maintained an Outperform rating and price target of $305.

Check out other analyst stock ratings.

Truist Securities: Lowe’s comps declined by 1.7% due to unfavorable weather conditioned earlier in the quarter, Ciccarelli said in the note. Sales accelerated as weather improved to bring the company's quarterly results in-line with expectations, he added.

After more than two years, base home improvement demand has become "fairly stable," the analyst stated. Management reiterated their full-year guidance, projecting comps of flat to up 1% and earnings of $12.15 to $12.40 per share.

Telsey Advisory Group: Although Lowe’s comp sales came under pressure, the decline was better than the consensus projection of 2.1%, Feldman said. The company's earnings of $2.92 per share came in higher consensus of $2.88 per share, he added.

Management maintained its full-year earnings guidance at $12.15-$12.40 per share, reflecting sales of $83.5-$84.5 billion, the analyst stated. The guidance implies that "tariffs are not expected to have a substantial negative impact on the business," he further wrote.

LOW Price Action: Shares of Lowe’shad declined by 1.48% to $224.00 at the time of publication on Thursday.

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