Lowe’s Companies (NYSE:LOW) Price Target Raised to $307.00 at Truist Financial

Lowe’s Companies (NYSE:LOW) had its price target raised by Truist Financial from $306.00 to $307.00 in a research report sent to investors on Thursday,Benzinga reports. Truist Financial currently has a buy rating on the home improvement retailer’s stock.

Several other equities analysts have also issued reports on the company. Telsey Advisory Group raised their price objective on Lowe’s Companies from $230.00 to $275.00 and gave the stock a “market perform” rating in a report on Wednesday, October 2nd. StockNews.com raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a research report on Wednesday, September 18th. Melius Research began coverage on Lowe’s Companies in a report on Monday, September 23rd. They set a “buy” rating and a $290.00 price target on the stock. Loop Capital upgraded Lowe’s Companies from a “hold” rating to a “buy” rating and upped their price target for the stock from $250.00 to $300.00 in a research note on Wednesday, October 9th. Finally, Bank of America boosted their price target on shares of Lowe’s Companies from $275.00 to $305.00 and gave the stock a “buy” rating in a research note on Friday, October 11th. Ten analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $273.44.

Lowe’s Companies Trading Up 1.8 %

LOW traded up $4.87 during trading hours on Thursday, hitting $271.17. 1,462,237 shares of the company’s stock were exchanged, compared to its average volume of 2,441,160. The firm has a 50 day moving average of $263.77 and a 200 day moving average of $241.67. The firm has a market cap of $153.83 billion, a P/E ratio of 22.08, a price-to-earnings-growth ratio of 2.18 and a beta of 1.10. Lowe’s Companies has a 12-month low of $189.05 and a 12-month high of $287.01.

Lowe’s Companies (NYSE:LOW) last issued its earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $23.93 billion. During the same quarter last year, the company earned $4.56 EPS. The business’s quarterly revenue was down 5.5% on a year-over-year basis. As a group, research analysts expect that Lowe’s Companies will post 11.91 EPS for the current fiscal year.

Lowe’s Companies Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 6th. Investors of record on Wednesday, October 23rd were paid a dividend of $1.15 per share. 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 1.70%. The ex-dividend date of this dividend was Wednesday, October 23rd. Lowe’s Companies’s dividend payout ratio is presently 38.14%.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in LOW. Crew Capital Management Ltd. boosted its stake in Lowe’s Companies by 1.0% in the third quarter. Crew Capital Management Ltd. now owns 3,873 shares of the home improvement retailer’s stock valued at $1,049,000 after acquiring an additional 37 shares during the last quarter. Summit Place Financial Advisors LLC grew its stake in shares of Lowe’s Companies by 2.8% during the third quarter. Summit Place Financial Advisors LLC now owns 1,375 shares of the home improvement retailer’s stock worth $372,000 after purchasing an additional 37 shares during the period. Clean Yield Group increased its holdings in Lowe’s Companies by 2.4% in the third quarter. Clean Yield Group now owns 1,599 shares of the home improvement retailer’s stock valued at $433,000 after purchasing an additional 38 shares during the last quarter. Mitchell Mcleod Pugh & Williams Inc. grew its position in shares of Lowe’s Companies by 0.5% during the 3rd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 7,460 shares of the home improvement retailer’s stock worth $2,021,000 after buying an additional 40 shares during the period. Finally, Drive Wealth Management LLC raised its holdings in Lowe’s Companies by 2.2% in the second quarter. Drive Wealth Management LLC now owns 1,894 shares of the home improvement retailer’s stock worth $418,000 after purchasing an additional 41 shares during the period. 74.06% of the stock is currently owned by institutional investors and hedge funds.

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.