Brokerages Set Lowe’s Companies, Inc. (NYSE:LOW) Target Price at $278.21

Lowe’s Companies, Inc. (NYSE:LOW) has been assigned a consensus rating of “Moderate Buy” from the twenty-five research firms that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and fifteen have assigned a buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $278.21.

LOW has been the subject of a number of research reports. Truist Financial reduced their price objective on Lowe’s Companies from $295.00 to $258.00 and set a “buy” rating for the company in a research note on Tuesday, April 8th. BNP Paribas raised shares of Lowe’s Companies to a “strong sell” rating in a research report on Thursday, February 27th. KeyCorp upgraded shares of Lowe’s Companies from a “sector weight” rating to an “overweight” rating and set a $266.00 price target for the company in a research note on Friday, April 25th. Bank of America dropped their price objective on shares of Lowe’s Companies from $305.00 to $290.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Finally, Telsey Advisory Group reissued an “outperform” rating and set a $305.00 target price on shares of Lowe’s Companies in a research report on Tuesday, April 15th.

Institutional Trading of Lowe’s Companies

Several institutional investors have recently bought and sold shares of the business. Norges Bank purchased a new position in Lowe’s Companies in the 4th quarter valued at about $1,842,954,000. Kovitz Investment Group Partners LLC raised its holdings in shares of Lowe’s Companies by 350.2% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 2,373,460 shares of the home improvement retailer’s stock valued at $585,770,000 after acquiring an additional 1,846,315 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Lowe’s Companies by 26,796.0% in the first quarter. GAMMA Investing LLC now owns 1,657,332 shares of the home improvement retailer’s stock valued at $386,540,000 after acquiring an additional 1,651,170 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Lowe’s Companies in the fourth quarter worth approximately $314,435,000. Finally, Strategic Financial Concepts LLC increased its position in shares of Lowe’s Companies by 24,531.0% during the fourth quarter. Strategic Financial Concepts LLC now owns 1,228,102 shares of the home improvement retailer’s stock worth $303,096,000 after purchasing an additional 1,223,116 shares in the last quarter. 74.06% of the stock is owned by institutional investors and hedge funds.

Lowe’s Companies Trading Down 0.5 %

Shares of LOW stock opened at $222.50 on Tuesday. Lowe’s Companies has a 1-year low of $206.39 and a 1-year high of $287.01. The stock has a market cap of $124.53 billion, a price-to-earnings ratio of 18.56, a PEG ratio of 1.96 and a beta of 1.07. The stock has a 50-day moving average of $227.73 and a 200-day moving average of $249.48.

Lowe’s Companies (NYSE:LOW) last released its earnings results on Wednesday, February 26th. The home improvement retailer reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.10. Lowe’s Companies had a net margin of 8.19% and a negative return on equity of 47.55%. The business had revenue of $18.55 billion for the quarter, compared to analyst estimates of $18.29 billion. Sell-side analysts forecast that Lowe’s Companies will post 11.9 earnings per share for the current year.

Lowe’s Companies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 7th. Shareholders of record on Wednesday, April 23rd will be issued a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date of this dividend is Wednesday, April 23rd. Lowe’s Companies’s payout ratio is presently 37.67%.

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.