Lowe’s Companies (NYSE:LOW) Upgraded to “Buy” at Loop Capital

Loop Capital upgraded shares of Lowe’s Companies (NYSE:LOW) from a hold rating to a buy rating in a research report released on Wednesday, Marketbeat Ratings reports. The brokerage currently has $300.00 price objective on the home improvement retailer’s stock, up from their previous price objective of $250.00.

Several other equities analysts also recently issued reports on LOW. Royal Bank of Canada dropped their price target on shares of Lowe’s Companies from $245.00 to $238.00 and set a sector perform rating for the company in a research note on Wednesday, August 21st. Bank of America dropped their price target on shares of Lowe’s Companies from $280.00 to $275.00 and set a buy rating for the company in a research note on Wednesday, August 21st. Morgan Stanley raised their price target 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. Gordon Haskett dropped their price target on shares of Lowe’s Companies from $245.00 to $240.00 and set a hold rating for the company in a research note on Wednesday, August 21st. Finally, Wells Fargo & Company dropped their price target on shares of Lowe’s Companies from $290.00 to $280.00 and set an overweight rating for the company in a research note on Wednesday, August 21st. Eleven analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of $266.88.

Lowe’s Companies Price Performance

Shares of NYSE:LOW opened at $275.76 on Wednesday. The company has a market cap of $157.14 billion, a price-to-earnings ratio of 22.15, a PEG ratio of 2.28 and a beta of 1.10. The firm has a 50 day simple moving average of $252.80 and a 200 day simple moving average of $237.69. Lowe’s Companies has a one year low of $181.85 and a one year high of $278.10.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings data on Tuesday, August 20th. The home improvement retailer reported $4.10 EPS for the quarter, beating the consensus estimate of $3.96 by $0.14. The business had revenue of $23.59 billion during the quarter, compared to the consensus estimate of $23.93 billion. Lowe’s Companies had a net margin of 8.25% and a negative return on equity of 47.07%. The firm’s revenue was down 5.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.56 EPS. As a group, analysts expect that Lowe’s Companies will post 11.91 EPS for the current year.

Lowe’s Companies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd will be issued a dividend of $1.15 per share. This is a boost 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 1.67%. The ex-dividend date of this dividend is Wednesday, October 23rd. Lowe’s Companies’s dividend payout ratio (DPR) is currently 36.95%.

Insider Activity

In other news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of Lowe’s Companies stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $248.82, for a total transaction 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. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Margrethe R. Vagell sold 5,730 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $271.45, for a total transaction of $1,555,408.50. Following the transaction, the executive vice president now directly owns 13,214 shares of the company’s stock, valued at $3,586,940.30. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $248.82, for a total transaction of $1,684,262.58. Following the transaction, the chief accounting officer now directly owns 9,383 shares in the company, valued at $2,334,678.06. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.26% of the company’s stock.

Institutional Trading of Lowe’s Companies

Several hedge funds have recently added to or reduced their stakes in the stock. Clean Yield Group raised its position in Lowe’s Companies by 2.4% in the third quarter. Clean Yield Group now owns 1,599 shares of the home improvement retailer’s stock worth $433,000 after acquiring an additional 38 shares during the period. Drive Wealth Management LLC raised its position in Lowe’s Companies by 2.2% in the second quarter. Drive Wealth Management LLC now owns 1,894 shares of the home improvement retailer’s stock worth $418,000 after acquiring an additional 41 shares during the period. Chapin Davis Inc. raised its position in Lowe’s Companies by 1.3% in the third quarter. Chapin Davis Inc. now owns 3,082 shares of the home improvement retailer’s stock worth $835,000 after acquiring an additional 41 shares during the period. Crown Wealth Group LLC raised its position in Lowe’s Companies by 4.4% in the second quarter. Crown Wealth Group LLC now owns 1,051 shares of the home improvement retailer’s stock worth $232,000 after acquiring an additional 44 shares during the period. Finally, Pure Financial Advisors LLC raised its position in Lowe’s Companies by 2.5% in the second quarter. Pure Financial Advisors LLC now owns 1,813 shares of the home improvement retailer’s stock worth $400,000 after acquiring an additional 45 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.