Mizuho Issues Positive Forecast for Lowe’s Companies (NYSE:LOW) Stock Price

Lowe’s Companies (NYSE:LOW) had its target price increased by Mizuho from $280.00 to $282.00 in a report published on Wednesday,Benzinga reports. Mizuho currently has an outperform rating on the home improvement retailer’s stock.

A number of other research firms have also issued reports on LOW. Sanford C. Bernstein began coverage on Lowe’s Companies in a report on Tuesday, October 22nd. They set an “outperform” rating and a $323.00 price target on the stock. DA Davidson boosted their target price on Lowe’s Companies from $240.00 to $270.00 and gave the company a “neutral” rating in a report on Wednesday. Gordon Haskett lowered their price objective on shares of Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating on the stock in a research report on Wednesday, August 21st. TD Cowen raised their target price on shares of Lowe’s Companies from $270.00 to $290.00 and gave the stock a “hold” rating in a research note on Monday, October 28th. Finally, Loop Capital upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating and boosted their price target for the stock from $250.00 to $300.00 in a research note on Wednesday, October 9th. Ten equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $277.92.

Lowe’s Companies Stock Performance

Lowe’s Companies stock opened at $263.03 on Wednesday. The stock has a 50-day simple moving average of $268.29 and a 200-day simple moving average of $244.36. The company has a market capitalization of $149.21 billion, a P/E ratio of 21.94, a PEG ratio of 2.15 and a beta of 1.10. Lowe’s Companies has a fifty-two week low of $196.23 and a fifty-two week high of $287.01.

Lowe’s Companies (NYSE:LOW) last announced its earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 EPS for the quarter, beating analysts’ consensus estimates of $3.96 by $0.14. The business had revenue of $23.59 billion for the quarter, compared to analysts’ expectations of $23.93 billion. Lowe’s Companies had a net margin of 8.19% and a negative return on equity of 47.55%. The company’s quarterly revenue was down 5.5% on a year-over-year basis. During the same period in the previous year, the company posted $4.56 EPS. As a group, analysts forecast that Lowe’s Companies will post 11.82 earnings per share for the current year.

Lowe’s Companies Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 6th. Investors of record on Wednesday, October 23rd were given a dividend of $1.15 per share. The ex-dividend date was Wednesday, October 23rd. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.15. This represents a $4.60 annualized dividend and a yield of 1.75%. Lowe’s Companies’s dividend payout ratio is 38.37%.

Insider Buying and Selling at Lowe’s Companies

In other Lowe’s Companies news, EVP Margrethe R. Vagell sold 5,730 shares of the business’s stock in a transaction dated 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 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. The trade was a 30.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $248.82, for a total transaction 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. This represents a 41.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.26% of the stock is owned by company insiders.

Hedge Funds Weigh In On Lowe’s Companies

A number of hedge funds have recently bought and sold shares of the company. Legacy Investment Solutions LLC acquired a new stake in shares of Lowe’s Companies in the 3rd quarter worth about $27,000. Stephens Consulting LLC lifted its holdings in shares of Lowe’s Companies by 93.3% in the second quarter. Stephens Consulting LLC now owns 145 shares of the home improvement retailer’s stock valued at $32,000 after buying an additional 70 shares during the period. JNBA Financial Advisors increased its stake in Lowe’s Companies by 555.6% in the 3rd quarter. JNBA Financial Advisors now owns 118 shares of the home improvement retailer’s stock worth $32,000 after purchasing an additional 100 shares in the last quarter. MFA Wealth Advisors LLC increased its holdings in Lowe’s Companies by 118.6% in the third quarter. MFA Wealth Advisors LLC now owns 129 shares of the home improvement retailer’s stock worth $35,000 after buying an additional 70 shares during the last quarter. Finally, Kimelman & Baird LLC acquired a new stake in shares of Lowe’s Companies in the 2nd quarter valued at $37,000. 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.