TD Cowen Increases Lowe’s Companies (NYSE:LOW) Price Target to $265.00

Lowe’s Companies (NYSE:LOW) had its target price boosted by TD Cowen from $240.00 to $265.00 in a research report report published on Thursday morning, Benzinga reports. TD Cowen currently has a hold rating on the home improvement retailer’s stock.

Other equities research analysts have also recently issued research reports about the stock. Gordon Haskett lowered their price target on shares of Lowe’s Companies from $245.00 to $240.00 and set a hold rating on the stock in a report on Wednesday, August 21st. Morgan Stanley lifted their price target on shares of Lowe’s Companies from $250.00 to $255.00 and gave the stock an overweight rating in a report on Wednesday, August 21st. StockNews.com raised shares of Lowe’s Companies from a hold rating to a buy rating in a report on Wednesday. Evercore ISI lifted their price target on shares of Lowe’s Companies from $225.00 to $250.00 and gave the stock an in-line rating in a report on Wednesday, August 21st. Finally, Wedbush reissued a neutral rating and set a $250.00 target price on shares of Lowe’s Companies in a report on Wednesday, August 21st. Thirteen equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, Lowe’s Companies presently has a consensus rating of Hold and an average target price of $253.33.

Lowe’s Companies Stock Up 1.7 %

Lowe’s Companies stock opened at $261.01 on Thursday. Lowe’s Companies has a 52 week low of $181.85 and a 52 week high of $262.49. The company’s 50 day moving average price is $243.06 and its two-hundred day moving average price is $235.27. The stock has a market cap of $148.73 billion, a P/E ratio of 20.96, a P/E/G ratio of 2.03 and a beta of 1.10.

Lowe’s Companies (NYSE:LOW) last posted its 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 firm had revenue of $23.59 billion for the quarter, compared to analysts’ expectations of $23.93 billion. Lowe’s Companies had a net margin of 8.25% and a negative return on equity of 47.07%. The company’s quarterly revenue was down 5.5% compared to the same quarter last year. During the same quarter last year, the firm earned $4.56 EPS. On average, equities analysts anticipate that Lowe’s Companies will post 11.93 EPS for the current year.

Lowe’s Companies Increases Dividend

The business also recently announced 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. The ex-dividend date is Wednesday, October 23rd. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.15. This represents a $4.60 annualized dividend and a yield of 1.76%. Lowe’s Companies’s payout ratio is 36.95%.

Insider Buying and Selling

In related news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the company’s stock in a transaction 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 completion of the transaction, the chief accounting officer now directly owns 9,383 shares in the company, valued at $2,334,678.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.26% of the stock is owned by company insiders.

Institutional Trading of Lowe’s Companies

Several hedge funds have recently added to or reduced their stakes in LOW. Tidemark LLC bought a new stake in Lowe’s Companies in the fourth quarter worth $27,000. Voisard Asset Management Group Inc. bought a new stake in Lowe’s Companies in the fourth quarter worth $28,000. Transcendent Capital Group LLC bought a new stake in Lowe’s Companies in the fourth quarter worth $31,000. Stephens Consulting LLC lifted its stake in Lowe’s Companies by 93.3% in the second 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 last quarter. Finally, Keener Financial Planning LLC bought a new stake in Lowe’s Companies in the first quarter worth $35,000. 74.06% of the stock is owned by 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. 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.