Evercore ISI Forecasts Strong Price Appreciation for Lowe’s Companies (NYSE:LOW) Stock

Lowe’s Companies (NYSE:LOW) had its price target upped by Evercore ISI from $255.00 to $270.00 in a report published on Wednesday,Benzinga reports. The firm currently has an in-line rating on the home improvement retailer’s stock.

Other equities research analysts also recently issued reports about the company. TD Cowen boosted their price target on Lowe’s Companies from $270.00 to $290.00 and gave the company a “hold” rating in a research note on Monday, October 28th. Truist Financial lifted their target price on Lowe’s Companies from $307.00 to $310.00 and gave the company a “buy” rating in a research report on Wednesday. Gordon Haskett dropped their target price on shares of Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating for the company in a report on Wednesday, August 21st. Morgan Stanley boosted their target price on shares of Lowe’s Companies from $250.00 to $255.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Finally, Sanford C. Bernstein began coverage on Lowe’s Companies in a research report on Tuesday, October 22nd. They set an “outperform” rating and a $323.00 price objective for the company. Ten analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, Lowe’s Companies presently has an average rating of “Moderate Buy” and an average price target of $277.92.

Lowe’s Companies Trading Up 1.5 %

Lowe’s Companies stock opened at $263.03 on Wednesday. Lowe’s Companies has a 12 month low of $196.23 and a 12 month high of $287.01. The company has a market capitalization of $149.21 billion, a price-to-earnings ratio of 21.94, a price-to-earnings-growth ratio of 2.15 and a beta of 1.10. The business’s fifty day simple moving average is $268.29 and its two-hundred day simple moving average is $244.36.

Lowe’s Companies (NYSE:LOW) last issued its earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 EPS for the quarter, beating the consensus estimate of $3.96 by $0.14. Lowe’s Companies had a negative return on equity of 47.55% and a net margin of 8.19%. The business had revenue of $23.59 billion for the quarter, compared to the consensus estimate of $23.93 billion. During the same period last year, the business posted $4.56 EPS. The company’s revenue was down 5.5% compared to the same quarter last year. On average, equities research analysts predict that Lowe’s Companies will post 11.82 EPS for the current year.

Lowe’s Companies Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 6th. Investors of record on Wednesday, October 23rd were issued a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 1.75%. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Wednesday, October 23rd. Lowe’s Companies’s dividend payout ratio (DPR) is presently 38.37%.

Insiders Place Their Bets

In related news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the stock in a transaction that occurred on 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 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 41.91 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Margrethe R. Vagell sold 5,730 shares of Lowe’s Companies 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 sale, the executive vice president now owns 13,214 shares of the company’s stock, valued at $3,586,940.30. The trade was a 30.25 % 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 corporate insiders.

Institutional Investors Weigh In On Lowe’s Companies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FMR LLC grew its stake in shares of Lowe’s Companies by 10.2% during the 3rd quarter. FMR LLC now owns 26,010,730 shares of the home improvement retailer’s stock worth $7,045,006,000 after purchasing an additional 2,399,897 shares during the period. International Assets Investment Management LLC grew its position in Lowe’s Companies by 1,889.7% during the third quarter. International Assets Investment Management LLC now owns 2,134,969 shares of the home improvement retailer’s stock valued at $578,256,000 after buying an additional 2,027,668 shares during the period. Strategic Financial Concepts LLC increased its holdings in Lowe’s Companies by 20,275.6% in the second quarter. Strategic Financial Concepts LLC now owns 1,205,014 shares of the home improvement retailer’s stock valued at $2,657,000 after buying an additional 1,199,100 shares in the last quarter. Applied Finance Capital Management LLC raised its position in shares of Lowe’s Companies by 387.7% in the third quarter. Applied Finance Capital Management LLC now owns 811,374 shares of the home improvement retailer’s stock worth $219,761,000 after acquiring an additional 645,017 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of Lowe’s Companies by 36.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,840,704 shares of the home improvement retailer’s stock worth $468,884,000 after acquiring an additional 493,180 shares in the last quarter. 74.06% of the stock is 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.