Lowe’s Companies, Inc. (NYSE:LOW) Short Interest Up 6.6% in July

Lowe’s Companies, Inc. (NYSE:LOW) saw a significant increase in short interest in July. As of July 31st, there was short interest totalling 9,640,000 shares, an increase of 6.6% from the July 15th total of 9,040,000 shares. Approximately 1.7% of the company’s shares are sold short. Based on an average daily trading volume, of 2,640,000 shares, the short-interest ratio is currently 3.7 days.

Lowe’s Companies Price Performance

Shares of NYSE:LOW traded up $1.00 during trading on Monday, hitting $242.15. The company’s stock had a trading volume of 742,708 shares, compared to its average volume of 2,518,311. The firm has a market cap of $137.99 billion, a price-to-earnings ratio of 19.48, a P/E/G ratio of 1.85 and a beta of 1.07. The company has a 50-day moving average of $229.89 and a 200-day moving average of $231.88. Lowe’s Companies has a 12 month low of $181.85 and a 12 month high of $262.49.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings results 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 business had revenue of $21.36 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter last year, the company posted $3.67 EPS. As a group, research analysts anticipate that Lowe’s Companies will post 12.23 earnings per share for the current year.

Lowe’s Companies Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 7th. Shareholders of record on Wednesday, July 24th were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.25%. The ex-dividend date of this dividend was Wednesday, July 24th. Lowe’s Companies’s payout ratio is 36.95%.

Analyst Upgrades and Downgrades

LOW has been the topic of several research reports. Stifel Nicolaus lifted their price target on Lowe’s Companies from $225.00 to $250.00 and gave the company a “hold” rating in a research report on Monday, May 13th. Wedbush reaffirmed a “neutral” rating and issued a $250.00 target price on shares of Lowe’s Companies in a research report on Wednesday, May 22nd. StockNews.com raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a research report on Friday, August 2nd. Royal Bank of Canada restated a “sector perform” rating and issued a $246.00 price objective on shares of Lowe’s Companies in a report on Wednesday, May 22nd. Finally, Telsey Advisory Group reiterated a “market perform” rating and set a $230.00 target price on shares of Lowe’s Companies in a report on Wednesday, August 14th. Fourteen equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $250.19.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Wetzel Investment Advisors Inc. purchased a new stake in Lowe’s Companies in the 4th quarter worth $25,000. Tidemark LLC purchased a new stake in shares of Lowe’s Companies during the fourth quarter worth about $27,000. Voisard Asset Management Group Inc. bought a new stake in Lowe’s Companies during the 4th quarter valued at approximately $28,000. Transcendent Capital Group LLC purchased a new position in Lowe’s Companies in the 4th quarter worth approximately $31,000. Finally, Stephens Consulting LLC boosted its stake in Lowe’s Companies by 93.3% in the 2nd quarter. Stephens Consulting LLC now owns 145 shares of the home improvement retailer’s stock worth $32,000 after purchasing an additional 70 shares during the period. 74.06% of the stock is owned by hedge funds and other 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.