Truist Financial Cuts Lowe’s Companies (NYSE:LOW) Price Target to $265.00

Lowe’s Companies (NYSE:LOW) had its price target reduced by Truist Financial from $271.00 to $265.00 in a research note released on Wednesday, Benzinga reports. They currently have a buy rating on the home improvement retailer’s stock.

Several other equities analysts have also issued reports on LOW. JPMorgan Chase & Co. boosted their target price on Lowe’s Companies from $265.00 to $268.00 and gave the stock an overweight rating in a research report on Wednesday, February 28th. Citigroup decreased their price objective on shares of Lowe’s Companies from $243.00 to $240.00 and set a neutral rating for the company in a report on Tuesday, May 7th. Telsey Advisory Group reiterated a market perform rating and issued a $230.00 target price on shares of Lowe’s Companies in a report on Tuesday, May 21st. Zelman & Associates reissued a neutral rating and set a $265.00 price target on shares of Lowe’s Companies in a research report on Tuesday, April 2nd. Finally, Gordon Haskett restated a hold rating and issued a $245.00 price objective on shares of Lowe’s Companies in a research report on Wednesday, April 3rd. Fourteen investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus target price of $251.33.

Lowe’s Companies Price Performance

Shares of NYSE LOW opened at $215.21 on Wednesday. Lowe’s Companies has a fifty-two week low of $181.85 and a fifty-two week high of $262.49. The firm has a market capitalization of $123.14 billion, a P/E ratio of 17.29, a P/E/G ratio of 1.67 and a beta of 1.15. The company’s 50 day simple moving average is $236.44 and its 200 day simple moving average is $225.02.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings results on Tuesday, May 21st. The home improvement retailer reported $3.06 earnings per share for the quarter, beating analysts’ consensus estimates of $2.94 by $0.12. Lowe’s Companies had a negative return on equity of 48.52% and a net margin of 8.46%. The company had revenue of $21.36 billion for the quarter, compared to the consensus estimate of $21.14 billion. During the same quarter in the prior year, the business posted $3.67 EPS. The firm’s quarterly revenue was down 4.4% on a year-over-year basis. Sell-side analysts expect that Lowe’s Companies will post 12.22 EPS for the current fiscal year.

Lowe’s Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 8th. Shareholders of record on Wednesday, April 24th were paid a $1.10 dividend. The ex-dividend date was Tuesday, April 23rd. This represents a $4.40 annualized dividend and a yield of 2.04%. Lowe’s Companies’s payout ratio is currently 35.34%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Wetzel Investment Advisors Inc. bought a new stake in shares of Lowe’s Companies in the 4th quarter valued at about $25,000. Orion Capital Management LLC bought a new stake in Lowe’s Companies in the third quarter valued at approximately $26,000. Tidemark LLC acquired a new stake in shares of Lowe’s Companies in the fourth quarter valued at approximately $27,000. Voisard Asset Management Group Inc. bought a new position in shares of Lowe’s Companies during the 4th quarter worth approximately $28,000. Finally, Transcendent Capital Group LLC acquired a new position in shares of Lowe’s Companies during the 4th quarter worth approximately $31,000. 74.06% of the stock is 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.