Lowe’s Companies (NYSE:LOW) Sets New 52-Week High After Analyst Upgrade

Lowe’s Companies, Inc. (NYSE:LOW)’s share price reached a new 52-week high on Monday after Truist Financial raised their price target on the stock from $269.00 to $306.00. Truist Financial currently has a buy rating on the stock. Lowe’s Companies traded as high as $278.92 and last traded at $278.79, with a volume of 232155 shares changing hands. The stock had previously closed at $275.76.

A number of other brokerages have also issued reports on LOW. Telsey Advisory Group raised their target price on shares of Lowe’s Companies from $230.00 to $275.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 2nd. TD Cowen raised their price objective on shares of Lowe’s Companies from $240.00 to $265.00 and gave the stock a “hold” rating in a research report on Thursday, September 19th. Evercore ISI upped their target price 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. Royal Bank of Canada lowered their price target on Lowe’s Companies from $245.00 to $238.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 21st. Finally, Oppenheimer raised Lowe’s Companies from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $230.00 to $305.00 in a research note on Tuesday, September 24th. Eleven research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $268.42.

Insider Buying and Selling

In related news, EVP Margrethe R. Vagell sold 5,730 shares of the company’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 value of $1,555,408.50. Following the sale, the executive vice president now owns 13,214 shares in the company, valued at $3,586,940.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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 stock was sold at an average price of $271.45, for a total transaction of $1,555,408.50. Following the completion of the transaction, the executive vice president now owns 13,214 shares of the company’s stock, valued at approximately $3,586,940.30. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $248.82, for a total value 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 $2,334,678.06. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.26% of the company’s stock.

Hedge Funds Weigh In On Lowe’s Companies

Several hedge funds have recently bought and sold shares of LOW. Stephens Consulting LLC increased 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 worth $32,000 after buying an additional 70 shares in the last quarter. Keener Financial Planning LLC acquired a new stake in shares of Lowe’s Companies during the first quarter worth $35,000. Kimelman & Baird LLC acquired a new stake in shares of Lowe’s Companies during the second quarter worth $37,000. Lynx Investment Advisory acquired a new stake in shares of Lowe’s Companies during the second quarter worth $49,000. Finally, Anfield Capital Management LLC boosted its holdings in shares of Lowe’s Companies by 4,380.0% during the second quarter. Anfield Capital Management LLC now owns 224 shares of the home improvement retailer’s stock worth $49,000 after purchasing an additional 219 shares during the last quarter. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Stock Up 1.9 %

The firm has a fifty day moving average price of $253.68 and a 200-day moving average price of $237.77. The firm has a market cap of $160.11 billion, a price-to-earnings ratio of 22.57, a PEG ratio of 2.28 and a beta of 1.10.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings data on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $23.93 billion. During the same quarter last year, the firm earned $4.56 earnings per share. The business’s revenue was down 5.5% on a year-over-year basis. Equities research analysts anticipate that Lowe’s Companies, Inc. will post 11.91 earnings per share for the current fiscal year.

Lowe’s Companies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 6th. Investors of record on Wednesday, October 23rd will be issued a $1.15 dividend. The ex-dividend date of this dividend is Wednesday, October 23rd. This represents a $4.60 dividend on an annualized basis and a yield of 1.64%. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.15. Lowe’s Companies’s dividend payout ratio (DPR) is presently 36.95%.

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.