Analysts Set Lowe’s Companies, Inc. (NYSE:LOW) Target Price at $252.83

Lowe’s Companies, Inc. (NYSE:LOW) has been assigned an average recommendation of “Hold” from the twenty-two research firms that are currently covering the firm, MarketBeat.com reports. Twelve investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $253.48.

Several brokerages have recently weighed in on LOW. Royal Bank of Canada lowered their target price on Lowe’s Companies from $245.00 to $238.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 21st. StockNews.com upgraded Lowe’s Companies from a “hold” rating to a “buy” rating in a research note on Wednesday, September 18th. Gordon Haskett cut their target price on Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating on the stock in a research report on Wednesday, August 21st. Wells Fargo & Company reduced their target price on Lowe’s Companies from $290.00 to $280.00 and set an “overweight” rating for the company in a research note on Wednesday, August 21st. Finally, Evercore ISI lifted their price target on shares of 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.

Insider Activity

In related news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $248.82, for a total value of $1,684,262.58. Following the sale, the chief accounting officer now owns 9,383 shares of the company’s stock, valued at approximately $2,334,678.06. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.26% of the company’s stock.

Institutional Trading of Lowe’s Companies

Several large investors have recently added to or reduced their stakes in LOW. Tidemark LLC bought a new position in shares of Lowe’s Companies in the fourth quarter worth $27,000. Voisard Asset Management Group Inc. acquired a new stake in Lowe’s Companies in the fourth quarter worth about $28,000. Transcendent Capital Group LLC bought a new position in Lowe’s Companies in the 4th quarter valued at about $31,000. Stephens Consulting LLC grew its position 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 valued at $32,000 after buying an additional 70 shares in the last quarter. Finally, Keener Financial Planning LLC acquired a new position in Lowe’s Companies during the 1st quarter valued at about $35,000. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Lowe’s Companies Stock Performance

Lowe’s Companies stock opened at $260.14 on Monday. The firm has a market capitalization of $148.24 billion, a PE ratio of 20.89, a price-to-earnings-growth ratio of 2.03 and a beta of 1.10. Lowe’s Companies has a one year low of $181.85 and a one year high of $262.49. The stock’s 50 day moving average price is $243.58 and its 200 day moving average price is $235.32.

Lowe’s Companies (NYSE:LOW) last posted its earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 EPS for the quarter, topping analysts’ consensus estimates of $3.96 by $0.14. The business had revenue of $23.59 billion for the quarter, compared to analysts’ expectations of $23.93 billion. Lowe’s Companies had a net margin of 8.25% and a negative return on equity of 47.07%. The business’s revenue for the quarter was down 5.5% compared to the same quarter last year. During the same period in the previous year, the company posted $4.56 earnings per share. On average, analysts forecast that Lowe’s Companies will post 11.93 earnings per share for the current fiscal year.

Lowe’s Companies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd will be given a $1.15 dividend. The ex-dividend date of this dividend is Wednesday, October 23rd. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.15. This represents a $4.60 annualized dividend and a yield of 1.77%. Lowe’s Companies’s dividend payout ratio (DPR) is currently 36.95%.

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.