Telsey Advisory Group Raises Lowe’s Companies (NYSE:LOW) Price Target to $275.00

Lowe’s Companies (NYSE:LOW) had its price target lifted by Telsey Advisory Group from $230.00 to $275.00 in a research note issued to investors on Wednesday, Marketbeat reports. They currently have a market perform rating on the home improvement retailer’s stock.

Other equities analysts also recently issued reports about the stock. Morgan Stanley upped their price objective on shares of Lowe’s Companies from $250.00 to $255.00 and gave the company an overweight rating in a research note on Wednesday, August 21st. Melius Research assumed coverage on shares of Lowe’s Companies in a report on Monday, September 23rd. They issued a buy rating and a $290.00 price objective for the company. Royal Bank of Canada cut their price objective on Lowe’s Companies from $245.00 to $238.00 and set a sector perform rating on the stock in a research report on Wednesday, August 21st. Truist Financial raised their target price on Lowe’s Companies from $265.00 to $269.00 and gave the company a buy rating in a research note on Wednesday, August 21st. Finally, StockNews.com raised Lowe’s Companies from a hold rating to a buy rating in a research note on Wednesday, September 18th. Twelve research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, Lowe’s Companies has an average rating of Moderate Buy and a consensus target price of $263.54.

Lowe’s Companies Trading Down 0.2 %

LOW opened at $271.97 on Wednesday. The stock has a market capitalization of $154.98 billion, a P/E ratio of 21.84, a PEG ratio of 2.15 and a beta of 1.10. The stock has a 50-day moving average price of $248.33 and a 200-day moving average price of $236.73. Lowe’s Companies has a 12-month low of $181.85 and a 12-month high of $274.16.

Lowe’s Companies (NYSE:LOW) last posted 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. Lowe’s Companies had a net margin of 8.25% and a negative return on equity of 47.07%. The firm had revenue of $23.59 billion for the quarter, compared to the consensus estimate of $23.93 billion. During the same period last year, the firm posted $4.56 earnings per share. The business’s revenue was down 5.5% compared to the same quarter last year. On average, equities research analysts predict that Lowe’s Companies will post 11.93 EPS for the current year.

Lowe’s Companies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd will be paid a $1.15 dividend. This is an increase 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 1.69%. The ex-dividend date is Wednesday, October 23rd. Lowe’s Companies’s dividend payout ratio (DPR) is 36.95%.

Insider Buying and Selling at Lowe’s Companies

In related 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 value of $1,684,262.58. Following the transaction, the chief accounting officer now owns 9,383 shares of the company’s stock, valued at $2,334,678.06. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.26% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of Lowe’s Companies by 5.2% during the 1st quarter. Vanguard Group Inc. now owns 53,693,630 shares of the home improvement retailer’s stock valued at $13,677,378,000 after purchasing an additional 2,674,372 shares during the period. Legal & General Group Plc increased its holdings in shares of Lowe’s Companies by 1.6% in the second quarter. Legal & General Group Plc now owns 5,205,491 shares of the home improvement retailer’s stock worth $1,147,603,000 after purchasing an additional 82,978 shares during the last quarter. Schroder Investment Management Group boosted its stake in Lowe’s Companies by 1.9% during the fourth quarter. Schroder Investment Management Group now owns 2,851,127 shares of the home improvement retailer’s stock valued at $634,518,000 after buying an additional 52,859 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Lowe’s Companies by 36.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,840,704 shares of the home improvement retailer’s stock valued at $468,884,000 after buying an additional 493,180 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its stake in Lowe’s Companies by 6.0% in the 2nd quarter. Envestnet Asset Management Inc. now owns 1,617,849 shares of the home improvement retailer’s stock worth $356,671,000 after acquiring an additional 90,945 shares during the last quarter. 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.