Lowe’s Companies (NYSE:LOW) Trading Up 1.7% on Analyst Upgrade

Lowe’s Companies, Inc. (NYSE:LOW)’s stock price shot up 1.7% during mid-day trading on Thursday after TD Cowen raised their price target on the stock from $240.00 to $265.00. TD Cowen currently has a hold rating on the stock. Lowe’s Companies traded as high as $262.25 and last traded at $261.05. 404,639 shares were traded during mid-day trading, a decline of 84% from the average session volume of 2,471,689 shares. The stock had previously closed at $256.63.

Several other equities research analysts also recently issued reports on LOW. Wedbush reaffirmed a “neutral” rating and set a $250.00 price target on shares of Lowe’s Companies in a report on Wednesday, August 21st. Royal Bank of Canada decreased their price target on shares of Lowe’s Companies from $245.00 to $238.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 21st. Morgan Stanley raised their price objective on shares of Lowe’s Companies from $250.00 to $255.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. DA Davidson decreased their target price on Lowe’s Companies from $270.00 to $240.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 22nd. Finally, Evercore ISI lifted their price target on Lowe’s Companies from $225.00 to $250.00 and gave the stock an “in-line” rating in a report on Wednesday, August 21st. Thirteen research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $253.33.

Insiders Place Their Bets

In related news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $248.82, for a total transaction of $1,684,262.58. Following the sale, the chief accounting officer now owns 9,383 shares of the company’s stock, valued at approximately $2,334,678.06. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.26% of the company’s stock.

Institutional Trading of Lowe’s Companies

Institutional investors have recently modified their holdings of the business. Tidemark LLC acquired a new stake in shares of Lowe’s Companies in the fourth quarter valued at about $27,000. Voisard Asset Management Group Inc. acquired a new stake in Lowe’s Companies during the 4th quarter valued at approximately $28,000. Keener Financial Planning LLC bought a new position in Lowe’s Companies during the 1st quarter worth approximately $35,000. Transcendent Capital Group LLC acquired a new position in shares of Lowe’s Companies in the 4th quarter worth approximately $31,000. Finally, Stephens Consulting LLC boosted its stake in shares of Lowe’s Companies by 93.3% in the 2nd quarter. Stephens Consulting LLC now owns 145 shares of the home improvement retailer’s stock valued at $32,000 after purchasing an additional 70 shares during the last quarter. Institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Price Performance

The company’s 50-day moving average price is $243.06 and its two-hundred day moving average price is $235.27. The company has a market capitalization of $148.73 billion, a price-to-earnings ratio of 20.96, a PEG ratio of 2.03 and a beta of 1.10.

Lowe’s Companies (NYSE:LOW) last released its earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 EPS for the quarter, topping the consensus estimate of $3.96 by $0.14. Lowe’s Companies had a negative return on equity of 47.07% and a net margin of 8.25%. The business had revenue of $23.59 billion during the quarter, compared to analysts’ expectations of $23.93 billion. During the same quarter last year, the firm posted $4.56 earnings per share. The firm’s revenue was down 5.5% on a year-over-year basis. On average, equities research analysts expect that Lowe’s Companies, Inc. will post 11.93 EPS for the current fiscal year.

Lowe’s Companies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd will be issued a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 1.76%. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.15. The ex-dividend date is Wednesday, October 23rd. Lowe’s Companies’s dividend payout ratio (DPR) is presently 36.95%.

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.