Lowe’s Companies (NYSE:LOW) Price Target Cut to $301.00 by Analysts at Sanford C. Bernstein

Lowe’s Companies (NYSE:LOW) had its target price reduced by Sanford C. Bernstein from $306.00 to $301.00 in a report released on Wednesday morning,Benzinga reports. Sanford C. Bernstein currently has an outperform rating on the home improvement retailer’s stock.

A number of other research firms also recently issued reports on LOW. Evercore ISI lifted their price objective on shares of Lowe’s Companies from $255.00 to $270.00 and gave the stock an “in-line” rating in a report on Wednesday. Wedbush reaffirmed a “neutral” rating and issued a $250.00 price objective on shares of Lowe’s Companies in a research report on Wednesday, August 21st. Melius Research initiated coverage on shares of Lowe’s Companies in a research note on Monday, September 23rd. They issued a “buy” rating and a $290.00 price objective for the company. TD Cowen boosted their target price on 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, Morgan Stanley upped their target price on Lowe’s Companies from $250.00 to $255.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Ten equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $277.92.

Lowe’s Companies Stock Performance

Shares of NYSE LOW opened at $264.63 on Wednesday. The stock has a market cap of $150.12 billion, a price-to-earnings ratio of 22.07, 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. The firm’s 50-day simple moving average is $268.74 and its 200 day simple moving average is $244.73.

Lowe’s Companies (NYSE:LOW) last posted its earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share for the quarter, beating analysts’ consensus estimates 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 company 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 earnings per share. The company’s revenue for the quarter was down 5.5% on a year-over-year basis. On average, sell-side analysts predict that Lowe’s Companies will post 11.82 EPS for the current year.

Lowe’s Companies Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd were issued a $1.15 dividend. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.15. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date of this dividend was Wednesday, October 23rd. Lowe’s Companies’s dividend payout ratio (DPR) is presently 38.37%.

Insider Activity at Lowe’s Companies

In other Lowe’s Companies news, EVP Margrethe R. Vagell sold 5,730 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $271.45, for a total value of $1,555,408.50. Following the completion of the transaction, the executive vice president now directly owns 13,214 shares of the company’s stock, valued at $3,586,940.30. This trade represents a 30.25 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the company’s stock in a transaction 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 completion of the transaction, the chief accounting officer now directly owns 9,383 shares in the company, valued at approximately $2,334,678.06. The trade was a 41.91 % decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Lowe’s Companies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Legacy Investment Solutions LLC purchased a new position in shares of Lowe’s Companies during the third quarter worth about $27,000. Stephens Consulting LLC lifted 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 valued at $32,000 after purchasing an additional 70 shares during the last quarter. JNBA Financial Advisors lifted its position in Lowe’s Companies by 555.6% during the third quarter. JNBA Financial Advisors now owns 118 shares of the home improvement retailer’s stock valued at $32,000 after purchasing an additional 100 shares during the last quarter. MFA Wealth Advisors LLC grew its stake in Lowe’s Companies by 118.6% in the 3rd 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 in the last quarter. Finally, Kimelman & Baird LLC bought a new position in shares of Lowe’s Companies in the 2nd quarter worth $37,000. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

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.