Lowe’s Companies (NYSE:LOW) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of Lowe’s Companies (NYSE:LOW) from a hold rating to a buy rating in a research report released on Friday morning.

LOW has been the subject of several other reports. Citigroup decreased their target price on shares of Lowe’s Companies from $243.00 to $240.00 and set a neutral rating for the company in a research report on Tuesday, May 7th. DA Davidson reduced their price objective on shares of Lowe’s Companies from $270.00 to $240.00 and set a neutral rating for the company in a research report on Wednesday, May 22nd. Telsey Advisory Group reaffirmed a market perform rating and issued a $230.00 price objective on shares of Lowe’s Companies in a research report on Tuesday, May 21st. Truist Financial reduced their price objective on shares of Lowe’s Companies from $271.00 to $265.00 and set a buy rating for the company in a research report on Wednesday, May 22nd. Finally, Evercore ISI reduced their price objective on shares of Lowe’s Companies from $250.00 to $225.00 and set an in-line rating for the company in a research report on Tuesday, July 2nd. Fourteen investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of Hold and an average target price of $250.19.

Lowe’s Companies Price Performance

NYSE:LOW opened at $237.02 on Friday. The firm has a 50-day moving average of $225.93 and a 200-day moving average of $230.32. The company has a market cap of $135.06 billion, a PE ratio of 19.04, a PEG ratio of 1.85 and a beta of 1.07. Lowe’s Companies has a one year low of $181.85 and a one year high of $262.49.

Lowe’s Companies (NYSE:LOW) last posted its earnings results on Tuesday, May 21st. The home improvement retailer reported $3.06 EPS for the quarter, topping the consensus estimate of $2.94 by $0.12. The company had revenue of $21.36 billion during the quarter, compared to the consensus estimate of $21.14 billion. Lowe’s Companies had a net margin of 8.46% and a negative return on equity of 48.52%. The firm’s revenue for the quarter was down 4.4% on a year-over-year basis. During the same period in the previous year, the firm posted $3.67 earnings per share. On average, equities research analysts expect that Lowe’s Companies will post 12.23 earnings per share for the current fiscal year.

Lowe’s Companies Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 7th. Investors of record on Wednesday, July 24th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.25%. The ex-dividend date is Wednesday, July 24th. Lowe’s Companies’s dividend payout ratio is currently 36.95%.

Hedge Funds Weigh In On Lowe’s Companies

Institutional investors and hedge funds have recently made changes to their positions in the business. Jacobsen Capital Management bought a new stake in Lowe’s Companies in the 4th quarter worth $206,000. SteelPeak Wealth LLC grew its holdings in Lowe’s Companies by 13.8% in the 4th quarter. SteelPeak Wealth LLC now owns 9,508 shares of the home improvement retailer’s stock worth $2,116,000 after acquiring an additional 1,152 shares during the last quarter. International Assets Investment Management LLC bought a new stake in Lowe’s Companies in the 4th quarter worth $430,090,000. Moody Lynn & Lieberson LLC grew its holdings in Lowe’s Companies by 10.1% in the 4th quarter. Moody Lynn & Lieberson LLC now owns 1,140 shares of the home improvement retailer’s stock worth $254,000 after acquiring an additional 105 shares during the last quarter. Finally, Capital Insight Partners LLC grew its holdings in Lowe’s Companies by 8.4% in the 4th quarter. Capital Insight Partners LLC now owns 3,721 shares of the home improvement retailer’s stock worth $828,000 after acquiring an additional 288 shares during the last quarter. Institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Company Profile

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.