Morgan Stanley Boosts Lowe’s Companies (NYSE:LOW) Price Target to $255.00

Lowe’s Companies (NYSE:LOW) had its price target increased by Morgan Stanley from $250.00 to $255.00 in a report issued on Wednesday, Benzinga reports. The firm currently has an overweight rating on the home improvement retailer’s stock.

Several other equities research analysts also recently commented on the company. Citigroup dropped their target price on Lowe’s Companies from $243.00 to $240.00 and set a neutral rating on the stock in a report on Tuesday, May 7th. Wedbush reiterated a neutral rating and set a $250.00 price objective on shares of Lowe’s Companies in a research note on Wednesday. DA Davidson decreased their target price on shares of Lowe’s Companies from $270.00 to $240.00 and set a neutral rating for the company in a research note on Wednesday, May 22nd. Telsey Advisory Group reaffirmed a market perform rating and set a $230.00 price target on shares of Lowe’s Companies in a research note on Tuesday. Finally, Bank of America decreased their price objective on shares of Lowe’s Companies from $280.00 to $275.00 and set a buy rating for the company in a research report on Wednesday. Twelve analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, Lowe’s Companies has an average rating of Moderate Buy and a consensus price target of $254.04.

Lowe’s Companies Price Performance

Shares of NYSE:LOW opened at $250.07 on Wednesday. The firm has a market capitalization of $142.50 billion, a PE ratio of 20.09, a P/E/G ratio of 1.85 and a beta of 1.07. The business has a 50-day moving average of $231.99 and a two-hundred day moving average of $232.54. Lowe’s Companies has a 12 month low of $181.85 and a 12 month high of $262.49.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 EPS for the quarter, topping the consensus estimate of $3.96 by $0.14. The company had revenue of $23.59 billion during the quarter, compared to analyst estimates of $23.93 billion. Lowe’s Companies had a negative return on equity of 48.52% and a net margin of 8.46%. The firm’s revenue was down 5.5% on a year-over-year basis. During the same period in the prior year, the firm posted $4.56 earnings per share. As a group, research analysts anticipate that Lowe’s Companies will post 12.23 earnings per share for the current year.

Lowe’s Companies Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 7th. Shareholders of record on Wednesday, July 24th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.24%. The ex-dividend date was Wednesday, July 24th. Lowe’s Companies’s dividend payout ratio is presently 36.95%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Tidemark LLC acquired a new stake in shares of Lowe’s Companies during the 4th quarter worth approximately $27,000. Voisard Asset Management Group Inc. acquired a new stake in shares of Lowe’s Companies during the 4th quarter worth approximately $28,000. Keener Financial Planning LLC acquired a new stake in shares of Lowe’s Companies during the 1st quarter worth approximately $35,000. Transcendent Capital Group LLC acquired a new stake in shares of Lowe’s Companies during the 4th quarter worth approximately $31,000. Finally, Stephens Consulting LLC raised its position in shares of Lowe’s Companies by 93.3% during the 2nd quarter. Stephens Consulting LLC now owns 145 shares of the home improvement retailer’s stock worth $32,000 after purchasing an additional 70 shares during the period. Institutional investors own 74.06% of the company’s stock.

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.