Lowe’s Companies (NYSE:LOW) Price Target Raised to $307.00

Lowe’s Companies (NYSE:LOW) had its target price lifted by Truist Financial from $306.00 to $307.00 in a research note issued to investors on Thursday morning,Benzinga reports. The firm currently has a buy rating on the home improvement retailer’s stock.

A number of other research firms have also recently weighed in on LOW. Sanford C. Bernstein started coverage on shares of Lowe’s Companies in a report on Tuesday, October 22nd. They issued an “outperform” rating and a $323.00 price objective for the company. Wedbush restated a “neutral” rating and set a $250.00 price target on shares of Lowe’s Companies in a research report on Wednesday, August 21st. Piper Sandler boosted their price target on shares of Lowe’s Companies from $262.00 to $307.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. Telsey Advisory Group upped their price objective on shares of Lowe’s Companies from $230.00 to $275.00 and gave the stock a “market perform” rating in a report on Wednesday, October 2nd. Finally, Morgan Stanley upped their target price on shares of Lowe’s Companies from $250.00 to $255.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Ten research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, Lowe’s Companies presently has a consensus rating of “Moderate Buy” and an average target price of $273.44.

Lowe’s Companies Stock Up 1.8 %

Lowe’s Companies stock traded up $4.80 during midday trading on Thursday, reaching $271.10. The stock had a trading volume of 2,102,467 shares, compared to its average volume of 2,186,897. The firm has a market cap of $153.79 billion, a price-to-earnings ratio of 22.48, a price-to-earnings-growth ratio of 2.15 and a beta of 1.10. The company has a fifty day moving average of $264.61 and a 200 day moving average of $242.11. Lowe’s Companies has a 52-week low of $189.05 and a 52-week high of $287.01.

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 (EPS) for the quarter, beating analysts’ consensus estimates of $3.96 by $0.14. Lowe’s Companies had a net margin of 8.25% and a negative return on equity of 47.07%. The firm had revenue of $23.59 billion for the quarter, compared to the consensus estimate of $23.93 billion. During the same period last year, the firm earned $4.56 earnings per share. The company’s quarterly revenue was down 5.5% on a year-over-year basis. Equities research analysts predict that Lowe’s Companies will post 11.91 EPS for the current year.

Lowe’s Companies Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 6th. Investors of record on Wednesday, October 23rd were given a $1.15 dividend. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.15. This represents a $4.60 annualized dividend and a yield of 1.70%. The ex-dividend date of this dividend was Wednesday, October 23rd. Lowe’s Companies’s dividend payout ratio (DPR) is 38.14%.

Insider Buying and Selling at Lowe’s Companies

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

Institutional Trading of Lowe’s Companies

Several institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised 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 valued at $13,677,378,000 after purchasing an additional 2,674,372 shares during the last quarter. Legal & General Group Plc grew its stake in Lowe’s Companies by 1.6% during the second quarter. Legal & General Group Plc now owns 5,205,491 shares of the home improvement retailer’s stock worth $1,147,603,000 after purchasing an additional 82,978 shares during the period. Ontario Teachers Pension Plan Board grew its stake in Lowe’s Companies by 1.6% in the third quarter. Ontario Teachers Pension Plan Board now owns 2,343,365 shares of the home improvement retailer’s stock valued at $634,700,000 after acquiring an additional 36,054 shares during the period. International Assets Investment Management LLC grew its stake in Lowe’s Companies by 1,889.7% in the third quarter. International Assets Investment Management LLC now owns 2,134,969 shares of the home improvement retailer’s stock valued at $578,256,000 after acquiring an additional 2,027,668 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its stake 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 valued at $468,884,000 after acquiring an additional 493,180 shares during the period. 74.06% of the stock is currently owned by 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.