Lowe’s Companies (NYSE:LOW) Rating Increased 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.

LOW has been the subject of a number of other reports. Royal Bank of Canada restated a sector perform rating and set a $246.00 target price on shares of Lowe’s Companies in a report on Wednesday, May 22nd. Wedbush reaffirmed a neutral rating and set a $250.00 target price on shares of Lowe’s Companies in a research note on Wednesday, May 22nd. DA Davidson reduced their target price on shares of Lowe’s Companies from $270.00 to $240.00 and set a neutral rating on the stock in a report on Wednesday, May 22nd. Stifel Nicolaus boosted their price target on shares of Lowe’s Companies from $225.00 to $250.00 and gave the stock a hold rating in a research note on Monday, May 13th. Finally, Truist Financial reduced their price objective on Lowe’s Companies from $271.00 to $265.00 and set a buy rating on the stock in a research note on Wednesday, May 22nd. Fourteen equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, Lowe’s Companies has an average rating of Hold and a consensus target price of $250.04.

Lowe’s Companies Price Performance

Shares of LOW opened at $240.42 on Friday. The firm has a 50-day simple moving average of $225.93 and a two-hundred day simple moving average of $230.32. The stock has a market cap of $137.00 billion, a PE ratio of 19.31, a P/E/G ratio of 1.85 and a beta of 1.07. Lowe’s Companies has a 1-year low of $181.85 and a 1-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 earnings per share for the quarter, beating the consensus estimate of $2.94 by $0.12. Lowe’s Companies had a net margin of 8.46% and a negative return on equity of 48.52%. The firm had revenue of $21.36 billion during the quarter, compared to the consensus estimate of $21.14 billion. During the same quarter last year, the firm earned $3.67 EPS. The firm’s revenue for the quarter was down 4.4% on a year-over-year basis. As a group, sell-side 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 declared a quarterly dividend, which will be paid on Wednesday, August 7th. Investors of record on Wednesday, July 24th will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.25%. The ex-dividend date of this dividend is Wednesday, July 24th. Lowe’s Companies’s dividend payout ratio is currently 36.95%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Wetzel Investment Advisors Inc. acquired a new position in Lowe’s Companies in the 4th quarter valued at about $25,000. Tidemark LLC purchased a new stake in shares of Lowe’s Companies during the 4th quarter worth approximately $27,000. Voisard Asset Management Group Inc. acquired a new stake in shares of Lowe’s Companies in the 4th quarter worth approximately $28,000. Transcendent Capital Group LLC acquired a new position in Lowe’s Companies during the fourth quarter worth $31,000. Finally, Stephens Consulting LLC boosted its position in Lowe’s Companies by 93.3% during the second 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. 74.06% of the stock is currently owned by institutional investors and hedge funds.

About Lowe’s Companies

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.