Lowe’s Companies (NYSE:LOW) Price Target Raised to $160.00

Lowe’s Companies (NYSE:LOW) had its target price raised by Morgan Stanley from $150.00 to $160.00 in a research report released on Tuesday, The Fly reports. They currently have an overweight rating on the home improvement retailer’s stock.

Several other analysts have also recently commented on LOW. Guggenheim reissued a buy rating and issued a $135.00 price target on shares of Lowe’s Companies in a report on Wednesday, May 20th. Wells Fargo & Co boosted their target price on shares of Lowe’s Companies from $165.00 to $180.00 and gave the stock an overweight rating in a research report on Tuesday. Piper Sandler raised their price objective on shares of Lowe’s Companies from $154.00 to $170.00 and gave the company an overweight rating in a research note on Thursday, July 16th. KeyCorp upped their target price on shares of Lowe’s Companies from $130.00 to $165.00 and gave the stock an overweight rating in a research report on Friday, July 24th. Finally, Bank of America lifted their price target on shares of Lowe’s Companies from $143.00 to $150.00 and gave the company a buy rating in a research report on Friday, June 12th. One analyst has rated the stock with a sell rating, three have given a hold rating and thirty have assigned a buy rating to the company’s stock. The company presently has an average rating of Buy and an average target price of $149.38.

Shares of Lowe’s Companies stock traded down $1.12 on Tuesday, hitting $154.58. The stock had a trading volume of 123,648 shares, compared to its average volume of 5,422,394. The stock has a market cap of $117.55 billion, a price-to-earnings ratio of 26.46, a P/E/G ratio of 1.43 and a beta of 1.45. The company has a current ratio of 1.20, a quick ratio of 0.42 and a debt-to-equity ratio of 14.05. Lowe’s Companies has a 52-week low of $60.00 and a 52-week high of $157.98. The company’s 50 day moving average price is $141.92 and its 200 day moving average price is $117.76.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings results on Wednesday, May 20th. The home improvement retailer reported $1.77 EPS for the quarter, topping the consensus estimate of $1.32 by $0.45. Lowe’s Companies had a return on equity of 220.44% and a net margin of 6.17%. The company had revenue of $19.68 billion for the quarter, compared to analyst estimates of $18.33 billion. During the same quarter in the previous year, the company posted $1.22 earnings per share. The firm’s revenue was up 10.9% compared to the same quarter last year. Analysts predict that Lowe’s Companies will post 6.82 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 5th. Stockholders of record on Wednesday, July 22nd were paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date of this dividend was Tuesday, July 21st. Lowe’s Companies’s dividend payout ratio (DPR) is presently 38.46%.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LOW. Mitchell Mcleod Pugh & Williams Inc. grew its holdings in shares of Lowe’s Companies by 14.0% in the 2nd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 9,925 shares of the home improvement retailer’s stock valued at $1,342,000 after buying an additional 1,220 shares during the period. Flagship Harbor Advisors LLC boosted its stake in shares of Lowe’s Companies by 33.7% in the 2nd quarter. Flagship Harbor Advisors LLC now owns 3,448 shares of the home improvement retailer’s stock valued at $465,000 after purchasing an additional 869 shares in the last quarter. Wedbush Securities Inc. grew its holdings in shares of Lowe’s Companies by 9.2% during the 2nd quarter. Wedbush Securities Inc. now owns 10,594 shares of the home improvement retailer’s stock valued at $1,431,000 after purchasing an additional 889 shares during the last quarter. State Street Corp increased its position in Lowe’s Companies by 2.7% during the 1st quarter. State Street Corp now owns 35,413,724 shares of the home improvement retailer’s stock worth $3,047,351,000 after purchasing an additional 922,369 shares in the last quarter. Finally, Somerset Trust Co increased its position in Lowe’s Companies by 5.8% during the 2nd quarter. Somerset Trust Co now owns 37,005 shares of the home improvement retailer’s stock worth $5,000,000 after purchasing an additional 2,016 shares in the last quarter. 74.49% of the stock is owned by hedge funds and other institutional investors.

Lowe’s Companies Company Profile

Lowe's Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States, Canada, and Mexico. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It provides home improvement products in various categories, such as lumber and building materials, appliances, seasonal and outdoor living, tools and hardware, fashion fixtures, rough plumbing and electrical, paint, millwork, lawn and garden, flooring, and kitchens.

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Analyst Recommendations for Lowe`s Companies (NYSE:LOW)

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