Lowe’s Companies (NYSE:LOW) Price Target Raised to $306.00 at Truist Financial

Lowe’s Companies (NYSE:LOW) had its price objective increased by Truist Financial from $269.00 to $306.00 in a report published on Monday, Benzinga reports. The firm currently has a buy rating on the home improvement retailer’s stock.

Several other research firms also recently commented on LOW. Royal Bank of Canada dropped their price objective on shares of Lowe’s Companies from $245.00 to $238.00 and set a “sector perform” rating for the company in a report on Wednesday, August 21st. Evercore ISI increased their price objective on shares of Lowe’s Companies from $225.00 to $250.00 and gave the company an “in-line” rating in a report on Wednesday, August 21st. JPMorgan Chase & Co. dropped their price objective on shares of Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating for the company in a report on Wednesday, August 21st. Oppenheimer raised shares of Lowe’s Companies from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $230.00 to $305.00 in a report on Tuesday, September 24th. Finally, TD Cowen increased their price objective on shares of Lowe’s Companies from $240.00 to $265.00 and gave the company a “hold” rating in a report on Thursday, September 19th. Eleven equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, Lowe’s Companies currently has an average rating of “Moderate Buy” and an average target price of $268.42.

Lowe’s Companies Stock Performance

Shares of LOW stock opened at $284.05 on Monday. Lowe’s Companies has a 52-week low of $181.85 and a 52-week high of $287.01. The firm has a market capitalization of $161.86 billion, a PE ratio of 22.82, a PEG ratio of 2.28 and a beta of 1.10. The stock has a fifty day simple moving average of $255.56 and a two-hundred day simple moving average of $238.28.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.96 by $0.14. Lowe’s Companies had a negative return on equity of 47.07% and a net margin of 8.25%. The business had revenue of $23.59 billion during the quarter, compared to analyst estimates of $23.93 billion. During the same quarter in the prior year, the business posted $4.56 EPS. Lowe’s Companies’s revenue for the quarter was down 5.5% compared to the same quarter last year. On average, sell-side analysts forecast that Lowe’s Companies will post 11.91 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. Investors of record on Wednesday, October 23rd will be given 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 yield of 1.62%. The ex-dividend date of this dividend is Wednesday, October 23rd. Lowe’s Companies’s dividend payout ratio is 36.95%.

Insider Buying and Selling

In related news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the 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 sale, the chief accounting officer now directly owns 9,383 shares of the company’s stock, valued at $2,334,678.06. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the firm’s 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 transaction, the chief accounting officer now directly owns 9,383 shares of the company’s stock, valued at approximately $2,334,678.06. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Margrethe R. Vagell sold 5,730 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 13,214 shares in the company, valued at approximately $3,586,940.30. 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 corporate insiders.

Hedge Funds Weigh In On Lowe’s Companies

Institutional investors have recently modified their holdings of the stock. Stephens Consulting LLC increased its holdings 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 buying an additional 70 shares during the period. Keener Financial Planning LLC purchased a new position in Lowe’s Companies during the first quarter valued at approximately $35,000. Kimelman & Baird LLC purchased a new position in Lowe’s Companies during the second quarter valued at approximately $37,000. Tsfg LLC increased its holdings in Lowe’s Companies by 128.2% during the third quarter. Tsfg LLC now owns 178 shares of the home improvement retailer’s stock valued at $48,000 after buying an additional 100 shares during the period. Finally, Lynx Investment Advisory purchased a new position in Lowe’s Companies during the second quarter valued at approximately $49,000. 74.06% of the stock is 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.