Telsey Advisory Group Raises Lowe’s Companies (NYSE:LOW) Price Target to $275.00

by · The Cerbat Gem

Lowe’s Companies (NYSE:LOW – Free Report) had its price objective upped by Telsey Advisory Group from $230.00 to $275.00 in a research report sent to investors on Wednesday, MarketBeat.com reports. The brokerage currently has a market perform rating on the home improvement retailer’s stock.

Other equities analysts also recently issued research reports about the company. UBS Group upped their price target on Lowe’s Companies from $270.00 to $290.00 and gave the stock a buy rating in a research report on Wednesday, August 21st. Piper Sandler boosted their price target on shares of Lowe’s Companies from $262.00 to $307.00 and gave the stock an overweight rating in a research report on Monday, September 30th. StockNews.com upgraded Lowe’s Companies from a hold rating to a buy rating in a report on Wednesday, September 18th. Wells Fargo & Company dropped their target price on Lowe’s Companies from $290.00 to $280.00 and set an overweight rating on the stock in a report on Wednesday, August 21st. Finally, Evercore ISI boosted their price target on Lowe’s Companies from $225.00 to $250.00 and gave the stock an in-line rating in a research report on Wednesday, August 21st. Twelve analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and an average target price of $263.54.

Get Our Latest Report on Lowe’s Companies

Lowe’s Companies Stock Down 0.9 %

Lowe’s Companies stock opened at $267.76 on Wednesday. The company has a 50 day moving average of $249.61 and a 200-day moving average of $237.13. Lowe’s Companies has a twelve month low of $181.85 and a twelve month high of $274.16. The stock has a market capitalization of $152.58 billion, a PE ratio of 21.51, a price-to-earnings-growth ratio of 2.15 and a beta of 1.10.

Lowe’s Companies (NYSE:LOW – Get Free Report) last announced its earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share for the quarter, topping analysts’ consensus estimates of $3.96 by $0.14. Lowe’s Companies had a net margin of 8.25% and a negative return on equity of 47.07%. The firm had revenue of $23.59 billion during the quarter, compared to analyst estimates of $23.93 billion. During the same period in the prior year, the business earned $4.56 EPS. The company’s revenue for the quarter was down 5.5% compared to the same quarter last year. Equities analysts anticipate that Lowe’s Companies will post 11.93 EPS for the current fiscal year.

Lowe’s Companies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd will be given a dividend of $1.15 per share. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Wednesday, October 23rd. This represents a $4.60 annualized dividend and a yield of 1.72%. Lowe’s Companies’s dividend payout ratio (DPR) is presently 36.95%.

Insider Activity

In other Lowe’s Companies 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 value of $1,684,262.58. Following the completion of the sale, the chief accounting officer now owns 9,383 shares in the company, valued at $2,334,678.06. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Margrethe R. Vagell sold 5,730 shares of the company’s stock in a transaction that occurred 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 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of Lowe’s Companies stock in a transaction that occurred 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 transaction, the chief accounting officer now directly owns 9,383 shares in the company, valued at $2,334,678.06. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Lowe’s Companies

Hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its position in Lowe’s Companies by 5.2% in the first quarter. Vanguard Group Inc. now owns 53,693,630 shares of the home improvement retailer’s stock valued at $13,677,378,000 after acquiring an additional 2,674,372 shares during the last quarter. Legal & General Group Plc increased its position in Lowe’s Companies by 1.6% during the 2nd quarter. Legal & General Group Plc now owns 5,205,491 shares of the home improvement retailer’s stock worth $1,147,603,000 after purchasing an additional 82,978 shares in the last quarter. Schroder Investment Management Group increased its position in Lowe’s Companies by 1.9% during the 4th quarter. Schroder Investment Management Group now owns 2,851,127 shares of the home improvement retailer’s stock worth $634,518,000 after purchasing an additional 52,859 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Lowe’s Companies by 36.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,840,704 shares of the home improvement retailer’s stock valued at $468,884,000 after purchasing an additional 493,180 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its stake in shares of Lowe’s Companies by 6.0% during the second quarter. Envestnet Asset Management Inc. now owns 1,617,849 shares of the home improvement retailer’s stock worth $356,671,000 after buying an additional 90,945 shares during the last quarter. Institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Company Profile

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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.

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