Lowe’s Companies (NYSE:LOW) Given New $305.00 Price Target at Bank of America

Lowe’s Companies (NYSE:LOW) had its target price boosted by Bank of America from $275.00 to $305.00 in a research report report published on Friday morning, Benzinga reports. They currently have a buy rating on the home improvement retailer’s stock.

Several other equities analysts have also recently issued reports on LOW. Piper Sandler upped their price target on shares of Lowe’s Companies from $262.00 to $307.00 and gave the company an overweight rating in a research report on Monday, September 30th. Truist Financial raised their target price on Lowe’s Companies from $265.00 to $269.00 and gave the stock a buy rating in a research report on Wednesday, August 21st. Telsey Advisory Group upped their price target on Lowe’s Companies from $230.00 to $275.00 and gave the company a market perform rating in a research report on Wednesday, October 2nd. Wedbush restated a neutral rating and set a $250.00 price objective on shares of Lowe’s Companies in a research report on Wednesday, August 21st. Finally, Loop Capital raised Lowe’s Companies from a hold rating to a buy rating and lifted their price objective for the stock from $250.00 to $300.00 in a research note on Wednesday, October 9th. Eleven analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $268.42.

Lowe’s Companies Trading Up 1.9 %

LOW opened at $280.97 on Friday. The company has a market cap of $160.11 billion, a P/E ratio of 22.57, a PEG ratio of 2.28 and a beta of 1.10. The company’s 50 day moving average is $253.68 and its 200-day moving average is $237.77. Lowe’s Companies has a 1-year low of $181.85 and a 1-year high of $281.40.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings data on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share for the quarter, beating 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 company had revenue of $23.59 billion for the quarter, compared to the consensus estimate of $23.93 billion. During the same quarter last year, the business posted $4.56 EPS. Lowe’s Companies’s revenue for the quarter was down 5.5% on a year-over-year basis. On average, equities analysts forecast that Lowe’s Companies will post 11.91 EPS for the current year.

Lowe’s Companies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd will be issued a dividend of $1.15 per share. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.15. The ex-dividend date is Wednesday, October 23rd. This represents a $4.60 annualized dividend and a yield of 1.64%. Lowe’s Companies’s dividend payout ratio is presently 36.95%.

Insider Buying and Selling at Lowe’s Companies

In other news, EVP Margrethe R. Vagell sold 5,730 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $271.45, for a total transaction of $1,555,408.50. Following the completion of the sale, the executive vice president now directly owns 13,214 shares of the company’s stock, valued at $3,586,940.30. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Lowe’s Companies news, EVP Margrethe R. Vagell sold 5,730 shares of Lowe’s Companies stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $271.45, for a total transaction of $1,555,408.50. Following the completion of the transaction, the executive vice president now owns 13,214 shares in the company, valued at approximately $3,586,940.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $248.82, for a total value of $1,684,262.58. Following the completion of the sale, the chief accounting officer now directly owns 9,383 shares of the company’s stock, valued at approximately $2,334,678.06. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.26% of the company’s stock.

Hedge Funds Weigh In On Lowe’s Companies

Hedge funds have recently bought and sold shares of the company. Clarity Asset Management Inc. purchased a new stake in Lowe’s Companies in the 4th quarter valued at about $101,000. Sanibel Captiva Trust Company Inc. bought a new stake in Lowe’s Companies during the fourth quarter worth $9,902,000. Secured Retirement Advisors LLC purchased a new position in Lowe’s Companies in the fourth quarter worth $1,344,000. Taylor Financial Group Inc. bought a new position in Lowe’s Companies in the 4th quarter valued at $916,000. Finally, Voisard Asset Management Group Inc. purchased a new stake in shares of Lowe’s Companies during the 4th quarter valued at $28,000. 74.06% of the stock is owned by hedge funds and other institutional investors.

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.