Brokerages Set Lowe’s Companies, Inc. (NYSE:LOW) Price Target at $248.12

Shares of Lowe’s Companies, Inc. (NYSE:LOW) have received an average rating of “Moderate Buy” from the twenty-four ratings firms that are covering the stock, Marketbeat.com reports. Twelve investment analysts have rated the stock with a hold recommendation and twelve have assigned a buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $251.60.

LOW has been the topic of several recent analyst reports. Mizuho started coverage on shares of Lowe’s Companies in a report on Tuesday, March 19th. They set a “buy” rating and a $280.00 price objective on the stock. Wells Fargo & Company raised their price target on shares of Lowe’s Companies from $235.00 to $250.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 13th. Piper Sandler raised their price target on shares of Lowe’s Companies from $218.00 to $245.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 16th. Telsey Advisory Group reissued a “market perform” rating and issued a $230.00 price target on shares of Lowe’s Companies in a research note on Wednesday. Finally, Oppenheimer reissued a “market perform” rating and issued a $230.00 price target on shares of Lowe’s Companies in a research note on Monday, March 4th.

Hedge Funds Weigh In On Lowe’s Companies

Institutional investors have recently modified their holdings of the business. Dynamic Advisor Solutions LLC increased its stake in Lowe’s Companies by 33.7% in the 3rd quarter. Dynamic Advisor Solutions LLC now owns 3,345 shares of the home improvement retailer’s stock valued at $695,000 after buying an additional 843 shares during the period. Meridian Wealth Management LLC increased its stake in Lowe’s Companies by 100.4% in the 3rd quarter. Meridian Wealth Management LLC now owns 31,158 shares of the home improvement retailer’s stock valued at $6,492,000 after buying an additional 15,612 shares during the period. Biondo Investment Advisors LLC increased its stake in Lowe’s Companies by 1.0% in the 3rd quarter. Biondo Investment Advisors LLC now owns 60,958 shares of the home improvement retailer’s stock valued at $12,669,000 after buying an additional 620 shares during the period. Geneos Wealth Management Inc. increased its stake in Lowe’s Companies by 2.5% in the 3rd quarter. Geneos Wealth Management Inc. now owns 6,950 shares of the home improvement retailer’s stock valued at $1,444,000 after buying an additional 168 shares during the period. Finally, Itau Unibanco Holding S.A. acquired a new position in shares of Lowe’s Companies during the 3rd quarter worth $40,000. 74.06% of the stock is owned by institutional investors and hedge funds.

Lowe’s Companies Stock Up 0.8 %

LOW opened at $253.33 on Monday. The company has a market cap of $145.69 billion, a price-to-earnings ratio of 19.22, a PEG ratio of 1.88 and a beta of 1.13. Lowe’s Companies has a 52-week low of $181.85 and a 52-week high of $262.49. The firm’s fifty day simple moving average is $231.47 and its two-hundred day simple moving average is $215.72.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings data on Tuesday, February 27th. The home improvement retailer reported $1.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.68 by $0.09. The business had revenue of $18.60 billion for the quarter, compared to the consensus estimate of $18.47 billion. Lowe’s Companies had a net margin of 8.94% and a negative return on equity of 51.42%. The company’s revenue was down 17.1% compared to the same quarter last year. During the same period last year, the firm posted $2.28 earnings per share. On average, research analysts forecast that Lowe’s Companies will post 12.21 EPS for the current year.

Lowe’s Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Wednesday, April 24th will be issued a $1.10 dividend. The ex-dividend date is Tuesday, April 23rd. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.74%. Lowe’s Companies’s payout ratio is 33.43%.

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.