Lowe’s Companies (NYSE:LOW) Price Target Increased to $290.00 by Analysts at UBS Group

Lowe’s Companies (NYSE:LOW) had its target price lifted by UBS Group from $270.00 to $290.00 in a research report released on Wednesday morning, Benzinga reports. They currently have a buy rating on the home improvement retailer’s stock.

A number of other research firms have also weighed in on LOW. Royal Bank of Canada reiterated a sector perform rating and issued a $246.00 price target on shares of Lowe’s Companies in a research report on Wednesday, May 22nd. Truist Financial cut their price target on Lowe’s Companies from $271.00 to $265.00 and set a buy rating for the company in a research note on Wednesday, May 22nd. JPMorgan Chase & Co. boosted their price objective on Lowe’s Companies from $268.00 to $272.00 and gave the company an overweight rating in a research report on Monday, August 5th. Wedbush reiterated a neutral rating and set a $250.00 target price on shares of Lowe’s Companies in a research report on Wednesday. Finally, StockNews.com raised Lowe’s Companies from a hold rating to a buy rating in a report on Friday, August 2nd. Twelve equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, Lowe’s Companies currently has an average rating of Moderate Buy and a consensus target price of $254.04.

Lowe’s Companies Stock Performance

NYSE LOW opened at $250.07 on Wednesday. The business’s fifty day moving average is $231.99 and its 200 day moving average is $232.64. Lowe’s Companies has a fifty-two week low of $181.85 and a fifty-two week high of $262.49. The company has a market capitalization of $142.50 billion, a PE ratio of 20.09, a price-to-earnings-growth ratio of 1.85 and a beta of 1.07.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings data on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share for the quarter, beating analysts’ consensus estimates of $3.96 by $0.14. The firm had revenue of $23.59 billion for the quarter, compared to analysts’ expectations of $23.93 billion. Lowe’s Companies had a negative return on equity of 48.52% and a net margin of 8.46%. The business’s quarterly revenue was down 5.5% on a year-over-year basis. During the same period in the previous year, the firm earned $4.56 EPS. On average, sell-side analysts forecast that Lowe’s Companies will post 12.23 EPS for the current year.

Lowe’s Companies Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 7th. Investors of record on Wednesday, July 24th were given a $0.15 dividend. The ex-dividend date was Wednesday, July 24th. This represents a $0.60 annualized dividend and a yield of 0.24%. Lowe’s Companies’s dividend payout ratio is currently 36.95%.

Hedge Funds Weigh In On Lowe’s Companies

Large investors have recently modified their holdings of the stock. Drive Wealth Management LLC boosted its stake in Lowe’s Companies by 2.2% during the second quarter. Drive Wealth Management LLC now owns 1,894 shares of the home improvement retailer’s stock worth $418,000 after buying an additional 41 shares during the period. Crown Wealth Group LLC boosted its stake in shares of Lowe’s Companies by 4.4% during the 2nd quarter. Crown Wealth Group LLC now owns 1,051 shares of the home improvement retailer’s stock worth $232,000 after purchasing an additional 44 shares during the period. Pure Financial Advisors LLC grew its holdings in Lowe’s Companies by 2.5% during the 2nd quarter. Pure Financial Advisors LLC now owns 1,813 shares of the home improvement retailer’s stock valued at $400,000 after purchasing an additional 45 shares during the last quarter. BLB&B Advisors LLC raised its position in Lowe’s Companies by 2.2% in the 2nd quarter. BLB&B Advisors LLC now owns 2,062 shares of the home improvement retailer’s stock worth $454,000 after purchasing an additional 45 shares during the period. Finally, Pathway Financial Advisers LLC raised its position in Lowe’s Companies by 3.5% in the 2nd quarter. Pathway Financial Advisers LLC now owns 1,331 shares of the home improvement retailer’s stock worth $292,000 after purchasing an additional 45 shares during the period. Institutional investors own 74.06% of the company’s stock.

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.