Lowe’s Companies, Inc. (NYSE:LOW) Receives $271.12 Average PT from Analysts

Lowe’s Companies, Inc. (NYSE:LOW) has been given an average rating of “Moderate Buy” by the twenty-six research firms that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, nine have assigned a hold recommendation and sixteen have assigned a buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $271.12.

A number of equities research analysts have commented on LOW shares. Telsey Advisory Group restated an “outperform” rating and issued a $305.00 target price on shares of Lowe’s Companies in a research report on Wednesday, May 21st. Citigroup restated a “neutral” rating and issued a $253.00 price objective (down from $269.00) on shares of Lowe’s Companies in a report on Wednesday, May 14th. Mizuho reaffirmed an “outperform” rating and set a $280.00 target price on shares of Lowe’s Companies in a research note on Friday, June 13th. Piper Sandler dropped their price target on shares of Lowe’s Companies from $296.00 to $269.00 and set an “overweight” rating for the company in a research report on Monday, March 24th. Finally, Wells Fargo & Company reduced their price target on shares of Lowe’s Companies from $285.00 to $260.00 and set an “overweight” rating on the stock in a research note on Thursday, May 8th.

Lowe’s Companies Stock Down 3.2%

Shares of LOW stock opened at $215.18 on Friday. Lowe’s Companies has a 52-week low of $206.39 and a 52-week high of $287.01. The stock has a market cap of $120.60 billion, a PE ratio of 17.83, a price-to-earnings-growth ratio of 2.10 and a beta of 0.90. The business has a 50-day simple moving average of $223.93 and a 200-day simple moving average of $233.72.

Lowe’s Companies (NYSE:LOW) last released its earnings results on Wednesday, May 21st. The home improvement retailer reported $2.92 EPS for the quarter, topping analysts’ consensus estimates of $2.88 by $0.04. Lowe’s Companies had a net margin of 8.22% and a negative return on equity of 49.12%. The business had revenue of $20.93 billion during the quarter, compared to analysts’ expectations of $21.09 billion. During the same quarter in the previous year, the company earned $3.06 earnings per share. The company’s quarterly revenue was down 2.0% on a year-over-year basis. Sell-side analysts anticipate that Lowe’s Companies will post 11.9 earnings per share for the current fiscal year.

Lowe’s Companies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 6th. Shareholders of record on Wednesday, July 23rd will be paid a $1.20 dividend. The ex-dividend date of this dividend is Wednesday, July 23rd. This is an increase from Lowe’s Companies’s previous quarterly dividend of $1.15. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.23%. Lowe’s Companies’s payout ratio is currently 38.11%.

Insiders Place Their Bets

In other news, EVP Juliette Williams Pryor sold 1,130 shares of the company’s stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $227.50, for a total transaction of $257,075.00. Following the transaction, the executive vice president owned 31,898 shares of the company’s stock, valued at $7,256,795. This represents a 3.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.27% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in LOW. Brighton Jones LLC lifted its holdings in Lowe’s Companies by 119.7% during the 4th quarter. Brighton Jones LLC now owns 31,965 shares of the home improvement retailer’s stock valued at $7,889,000 after purchasing an additional 17,413 shares during the last quarter. Revolve Wealth Partners LLC raised its position in shares of Lowe’s Companies by 31.6% in the fourth quarter. Revolve Wealth Partners LLC now owns 1,078 shares of the home improvement retailer’s stock valued at $266,000 after purchasing an additional 259 shares during the period. Proficio Capital Partners LLC lifted its stake in shares of Lowe’s Companies by 72.7% during the 4th quarter. Proficio Capital Partners LLC now owns 3,429 shares of the home improvement retailer’s stock worth $846,000 after buying an additional 1,444 shares during the last quarter. AGF Management Ltd. bought a new stake in shares of Lowe’s Companies during the 4th quarter worth about $1,350,000. Finally, LBP AM SA acquired a new position in Lowe’s Companies in the 4th quarter valued at about $3,502,000. 74.06% of the stock is currently owned by 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.