Lowe’s Companies (NYSE:LOW) Price Target Raised to $306.00

Lowe’s Companies (NYSE:LOW) had its price objective boosted by Truist Financial from $269.00 to $306.00 in a research note issued to investors on Monday morning, Benzinga reports. Truist Financial currently has a buy rating on the home improvement retailer’s stock.

A number of other equities analysts have also commented on LOW. Wells Fargo & Company cut their price target on Lowe’s Companies from $290.00 to $280.00 and set an “overweight” rating for the company in a report on Wednesday, August 21st. Morgan Stanley raised their price target on Lowe’s Companies from $250.00 to $255.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. JPMorgan Chase & Co. cut their price target on Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating for the company in a report on Wednesday, August 21st. Wedbush reaffirmed a “neutral” rating and issued a $250.00 price target on shares of Lowe’s Companies in a report on Wednesday, August 21st. Finally, Gordon Haskett cut their price target on Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating for the company in a report on Wednesday, August 21st. Eleven analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, Lowe’s Companies has a consensus rating of “Moderate Buy” and an average target price of $268.42.

Lowe’s Companies Price Performance

NYSE:LOW opened at $284.05 on Monday. The business has a fifty day simple moving average of $255.56 and a two-hundred day simple moving average of $238.28. Lowe’s Companies has a 1 year low of $181.85 and a 1 year high of $287.01. The company has a market capitalization of $161.86 billion, a P/E ratio of 22.82, a P/E/G ratio of 2.28 and a beta of 1.10.

Lowe’s Companies (NYSE:LOW) last released its earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.96 by $0.14. Lowe’s Companies had a negative return on equity of 47.07% and a net margin of 8.25%. The business had revenue of $23.59 billion during the quarter, compared to the consensus estimate of $23.93 billion. During the same period last year, the business posted $4.56 earnings per share. The business’s revenue for the quarter was down 5.5% on a year-over-year basis. As a group, analysts anticipate that Lowe’s Companies will post 11.91 earnings per share for the current year.

Lowe’s Companies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 6th. Investors of record on Wednesday, October 23rd will be given a $1.15 dividend. The ex-dividend date is Wednesday, October 23rd. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.15. This represents a $4.60 annualized dividend and a yield of 1.62%. Lowe’s Companies’s dividend payout ratio is 36.95%.

Insider Buying and Selling at Lowe’s Companies

In other Lowe’s Companies news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $248.82, for a total transaction of $1,684,262.58. Following the completion of the sale, the chief accounting officer now directly owns 9,383 shares in the company, valued at approximately $2,334,678.06. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Lowe’s Companies news, EVP Margrethe R. Vagell sold 5,730 shares of the business’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $271.45, for a total transaction of $1,555,408.50. Following the completion of the sale, the executive vice president now directly owns 13,214 shares in the company, valued at approximately $3,586,940.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $248.82, for a total transaction 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. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.26% of the company’s stock.

Institutional Investors Weigh In On Lowe’s Companies

Hedge funds and other institutional investors have recently modified their holdings of the stock. Keener Financial Planning LLC purchased a new stake in shares of Lowe’s Companies in the 1st quarter worth $35,000. Stephens Consulting LLC increased its stake in shares of Lowe’s Companies by 93.3% in the 2nd quarter. Stephens Consulting LLC now owns 145 shares of the home improvement retailer’s stock worth $32,000 after purchasing an additional 70 shares in the last quarter. Kimelman & Baird LLC purchased a new stake in shares of Lowe’s Companies in the 2nd quarter worth $37,000. Tsfg LLC increased its stake in shares of Lowe’s Companies by 128.2% in the 3rd quarter. Tsfg LLC now owns 178 shares of the home improvement retailer’s stock worth $48,000 after purchasing an additional 100 shares in the last quarter. Finally, Tradewinds Capital Management LLC increased its stake in shares of Lowe’s Companies by 54.7% in the 1st quarter. Tradewinds Capital Management LLC now owns 198 shares of the home improvement retailer’s stock worth $50,000 after purchasing an additional 70 shares in the last quarter. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

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.