Wolfe Research Cuts Lowe’s Companies (NYSE:LOW) Price Target to $284.00

Lowe’s Companies (NYSE:LOW) had its price objective cut by Wolfe Research from $285.00 to $284.00 in a report released on Wednesday morning,MarketScreener reports. They currently have an outperform rating on the home improvement retailer’s stock.

A number of other equities research analysts also recently commented on the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of Lowe’s Companies in a research report on Monday, December 29th. Stifel Nicolaus lifted their target price on shares of Lowe’s Companies from $230.00 to $250.00 and gave the stock a “hold” rating in a report on Monday, December 1st. Mizuho lowered their price target on Lowe’s Companies from $285.00 to $272.00 and set an “outperform” rating on the stock in a research note on Thursday, November 20th. Royal Bank Of Canada decreased their price objective on Lowe’s Companies from $260.00 to $252.00 and set a “sector perform” rating on the stock in a report on Thursday, November 20th. Finally, Bank of America reduced their target price on shares of Lowe’s Companies from $290.00 to $280.00 and set a “buy” rating on the stock in a research note on Thursday, November 20th. Nineteen equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $284.77.

Lowe’s Companies Stock Up 1.1%

Lowe’s Companies stock traded up $3.13 during mid-day trading on Wednesday, hitting $278.02. 2,211,831 shares of the company’s stock traded hands, compared to its average volume of 2,886,113. Lowe’s Companies has a one year low of $206.38 and a one year high of $281.36. The firm has a 50 day moving average price of $257.24 and a 200 day moving average price of $249.62. The company has a market cap of $155.96 billion, a PE ratio of 23.05, a price-to-earnings-growth ratio of 4.30 and a beta of 0.97.

Lowe’s Companies (NYSE:LOW) last released its earnings results on Wednesday, November 26th. The home improvement retailer reported $3.06 EPS for the quarter, beating the consensus estimate of $2.97 by $0.09. The firm had revenue of $20.81 billion for the quarter, compared to analysts’ expectations of $20.88 billion. Lowe’s Companies had a net margin of 8.05% and a negative return on equity of 55.86%. Lowe’s Companies’s quarterly revenue was up 3.2% on a year-over-year basis. During the same quarter last year, the company earned $2.89 EPS. On average, analysts expect that Lowe’s Companies will post 11.9 earnings per share for the current fiscal year.

Lowe’s Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 4th. Shareholders of record on Wednesday, January 21st were given a dividend of $1.20 per share. The ex-dividend date was Wednesday, January 21st. This represents a $4.80 dividend on an annualized basis and a yield of 1.7%. Lowe’s Companies’s dividend payout ratio is presently 39.80%.

Insiders Place Their Bets

In other Lowe’s Companies news, CEO Marvin R. Ellison sold 18,000 shares of the firm’s stock in a transaction that occurred on Friday, January 9th. The shares were sold at an average price of $261.17, for a total value of $4,701,060.00. Following the transaction, the chief executive officer directly owned 231,043 shares of the company’s stock, valued at approximately $60,341,500.31. This trade represents a 7.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.27% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Lowe’s Companies

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Lowe’s Companies by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 56,230,787 shares of the home improvement retailer’s stock valued at $13,560,617,000 after buying an additional 924,625 shares during the last quarter. State Street Corp increased its holdings in shares of Lowe’s Companies by 0.5% in the third quarter. State Street Corp now owns 25,036,276 shares of the home improvement retailer’s stock valued at $6,291,867,000 after purchasing an additional 124,501 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Lowe’s Companies by 0.3% during the second quarter. Geode Capital Management LLC now owns 12,351,783 shares of the home improvement retailer’s stock worth $2,732,049,000 after purchasing an additional 42,190 shares during the period. Norges Bank acquired a new stake in Lowe’s Companies in the 2nd quarter worth about $1,773,624,000. Finally, Northern Trust Corp increased its holdings in shares of Lowe’s Companies by 1.5% during the third quarter. Northern Trust Corp now owns 6,830,080 shares of the home improvement retailer’s stock worth $1,716,467,000 after purchasing an additional 103,827 shares during the period. Institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Company Profile

Lowe’s Companies, Inc is a leading home improvement retailer that operates large-format stores and digital channels serving both do-it-yourself homeowners and professional contractors. The company offers a broad assortment of products including building materials, lumber, appliances, tools and hardware, plumbing and electrical supplies, paint, flooring, kitchen and bath fixtures, outdoor and garden products, and home decor. Lowe’s also provides a range of services such as installation, home improvement financing, tool and equipment rental, and contractor-focused sales programs.

Operations are centered on a nationwide brick-and-mortar store network supported by distribution centers and an e-commerce platform that enables online ordering, delivery and in-store pickup.