Lowe’s Companies (NYSE:LOW) Price Target Raised to $250.00

Lowe’s Companies (NYSE:LOW) had its target price lifted by Loop Capital from $230.00 to $250.00 in a research report report published on Wednesday morning, Benzinga reports. The brokerage currently has a hold rating on the home improvement retailer’s stock.

LOW has been the subject of a number of other research reports. Telsey Advisory Group raised their price objective on Lowe’s Companies from $230.00 to $275.00 and gave the company a market perform rating in a research report on Wednesday. StockNews.com raised Lowe’s Companies from a hold rating to a buy rating in a research report on Wednesday, September 18th. Morgan Stanley raised their price objective on Lowe’s Companies from $250.00 to $255.00 and gave the company an overweight rating in a research report on Wednesday, August 21st. Royal Bank of Canada reduced their price objective on Lowe’s Companies from $245.00 to $238.00 and set a sector perform rating for the company in a research report on Wednesday, August 21st. Finally, Wedbush reaffirmed a neutral rating and set a $250.00 price objective on shares of Lowe’s Companies in a research report on Wednesday, August 21st. Twelve research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of $263.54.

Lowe’s Companies Stock Performance

Shares of NYSE:LOW opened at $267.76 on Wednesday. Lowe’s Companies has a 52-week low of $181.85 and a 52-week high of $274.16. The firm has a market capitalization of $152.58 billion, a P/E ratio of 21.51, a P/E/G ratio of 2.15 and a beta of 1.10. The stock has a 50 day moving average price of $249.61 and a 200-day moving average price of $237.13.

Lowe’s Companies (NYSE:LOW) last announced its earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share (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 firm had revenue of $23.59 billion during the quarter, compared to analyst estimates of $23.93 billion. During the same quarter in the prior year, the company earned $4.56 EPS. The business’s revenue was down 5.5% compared to the same quarter last year. On average, equities analysts forecast that Lowe’s Companies will post 11.93 EPS for the current fiscal year.

Lowe’s Companies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd will be issued a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 1.72%. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Wednesday, October 23rd. Lowe’s Companies’s payout ratio is 36.95%.

Insider Transactions at Lowe’s Companies

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

Institutional Investors Weigh In On Lowe’s Companies

A number of institutional investors have recently modified their holdings of the business. Voisard Asset Management Group Inc. purchased a new stake in shares of Lowe’s Companies during the 4th quarter valued at approximately $28,000. Keener Financial Planning LLC purchased a new stake in Lowe’s Companies in the first quarter valued at $35,000. Transcendent Capital Group LLC purchased a new stake in shares of Lowe’s Companies in the fourth quarter valued at about $31,000. Stephens Consulting LLC raised its holdings in shares of Lowe’s Companies by 93.3% in the second quarter. Stephens Consulting LLC now owns 145 shares of the home improvement retailer’s stock valued at $32,000 after buying an additional 70 shares during the last quarter. Finally, Kimelman & Baird LLC purchased a new stake in shares of Lowe’s Companies in the second quarter valued at about $37,000. 74.06% of the stock is currently owned by institutional investors and hedge funds.

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.