TD Cowen Boosts Lowe’s Companies (NYSE:LOW) Price Target to $265.00

Lowe’s Companies (NYSE:LOW) had its target price raised by TD Cowen from $240.00 to $265.00 in a report published on Thursday, Benzinga reports. The firm currently has a hold rating on the home improvement retailer’s stock.

Other equities analysts also recently issued reports about the company. 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 research note on Wednesday, August 21st. Wedbush reiterated a neutral rating and issued a $250.00 price target on shares of Lowe’s Companies in a research note on Wednesday, August 21st. Gordon Haskett decreased their price target on Lowe’s Companies from $245.00 to $240.00 and set a hold rating for the company in a research note on Wednesday, August 21st. JPMorgan Chase & Co. decreased their price target on Lowe’s Companies from $272.00 to $270.00 and set an overweight rating for the company in a research note on Wednesday, August 21st. Finally, Morgan Stanley lifted their price target on Lowe’s Companies from $250.00 to $255.00 and gave the stock an overweight rating in a research note on Wednesday, August 21st. Twelve research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Lowe’s Companies currently has an average rating of Hold and an average target price of $253.48.

Lowe’s Companies Price Performance

Shares of Lowe’s Companies stock opened at $260.14 on Thursday. The business has a 50-day moving average of $243.58 and a 200-day moving average of $235.32. The company has a market capitalization of $148.24 billion, a PE ratio of 20.89, a P/E/G ratio of 2.03 and a beta of 1.10. Lowe’s Companies has a 1-year low of $181.85 and a 1-year high of $262.49.

Lowe’s Companies (NYSE:LOW) last announced its earnings results 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. The company had revenue of $23.59 billion during the quarter, compared to the consensus estimate of $23.93 billion. Lowe’s Companies had a negative return on equity of 47.07% and a net margin of 8.25%. The company’s revenue was down 5.5% on a year-over-year basis. During the same period last year, the firm earned $4.56 earnings per share. On average, equities analysts expect that Lowe’s Companies will post 11.93 earnings per share for the current fiscal year.

Lowe’s Companies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd will be issued a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date of this dividend is Wednesday, October 23rd. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.15. Lowe’s Companies’s payout ratio is 36.95%.

Insider Activity

In related news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the business’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 owns 9,383 shares of the company’s stock, valued at $2,334,678.06. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.26% of the company’s stock.

Institutional Investors Weigh In On Lowe’s Companies

A number of institutional investors have recently added to or reduced their stakes in LOW. Vanguard Group Inc. lifted its position in Lowe’s Companies by 5.2% in the first quarter. Vanguard Group Inc. now owns 53,693,630 shares of the home improvement retailer’s stock worth $13,677,378,000 after purchasing an additional 2,674,372 shares during the period. Strategic Financial Concepts LLC lifted its position in Lowe’s Companies by 20,275.6% in the second quarter. Strategic Financial Concepts LLC now owns 1,205,014 shares of the home improvement retailer’s stock worth $2,657,000 after purchasing an additional 1,199,100 shares during the period. M&G Plc acquired a new stake in Lowe’s Companies in the first quarter worth approximately $217,995,000. Pathstone Holdings LLC acquired a new stake in Lowe’s Companies in the fourth quarter worth approximately $126,615,000. Finally, Price T Rowe Associates Inc. MD lifted its position in Lowe’s Companies by 36.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,840,704 shares of the home improvement retailer’s stock worth $468,884,000 after purchasing an additional 493,180 shares during the period. 74.06% of the stock is currently owned by institutional investors and hedge funds.

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.