Lowe’s Companies (NYSE:LOW) Upgraded to Buy by StockNews.com

StockNews.com upgraded shares of Lowe’s Companies (NYSE:LOW) from a hold rating to a buy rating in a report published on Wednesday.

Other equities research analysts have also issued research reports about the stock. Wedbush reissued a neutral rating and set a $250.00 price objective on shares of Lowe’s Companies in a report on Wednesday. Royal Bank of Canada reissued a sector perform rating and issued a $246.00 price target on shares of Lowe’s Companies in a report on Wednesday. The Goldman Sachs Group boosted their price objective on shares of Lowe’s Companies from $238.00 to $262.00 and gave the stock a buy rating in a research report on Tuesday, February 13th. Truist Financial decreased their price objective on Lowe’s Companies from $271.00 to $265.00 and set a buy rating on the stock in a research report on Wednesday. Finally, 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. Fourteen research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Hold and an average target price of $251.33.

Lowe’s Companies Stock Down 1.0 %

Shares of LOW stock opened at $215.21 on Wednesday. The company 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. Lowe’s Companies has a 12-month low of $181.85 and a 12-month high of $262.49. The firm has a 50-day moving average price of $236.44 and a 200 day moving average price of $225.02.

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

Lowe’s Companies Dividend Announcement

The firm also recently disclosed 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 of this dividend was Tuesday, April 23rd. This represents a $4.40 annualized dividend and a yield of 2.04%. Lowe’s Companies’s dividend payout ratio is 35.34%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Wetzel Investment Advisors Inc. bought a new position in Lowe’s Companies during the fourth quarter worth $25,000. Orion Capital Management LLC acquired a new stake in shares of Lowe’s Companies during the 3rd quarter worth about $26,000. Tidemark LLC bought a new stake in shares of Lowe’s Companies during the 4th quarter worth about $27,000. Voisard Asset Management Group Inc. acquired a new position in Lowe’s Companies in the 4th quarter valued at about $28,000. Finally, Transcendent Capital Group LLC bought a new position in Lowe’s Companies in the 4th quarter valued at about $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.