Lowe’s Companies (NYSE:LOW) Price Target Raised to $270.00 at DA Davidson

Lowe’s Companies (NYSE:LOW) had its price objective raised by DA Davidson from $240.00 to $270.00 in a research report sent to investors on Wednesday morning,Benzinga reports. They currently have a neutral rating on the home improvement retailer’s stock.

Several other analysts have also recently commented on LOW. Wells Fargo & Company raised their target price on Lowe’s Companies from $280.00 to $295.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 6th. TD Cowen upped their target price on Lowe’s Companies from $270.00 to $290.00 and gave the company a “hold” rating in a report on Monday, October 28th. Barclays raised their price target on shares of Lowe’s Companies from $229.00 to $245.00 and gave the stock an “equal weight” rating in a report on Wednesday. UBS Group upped their price objective on shares of Lowe’s Companies from $270.00 to $290.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Finally, Bank of America lifted their target price on shares of Lowe’s Companies from $275.00 to $305.00 and gave the company a “buy” rating in a research note on Friday, October 11th. Ten investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $277.92.

Lowe’s Companies Stock Up 1.5 %

NYSE:LOW opened at $263.03 on Wednesday. The stock has a fifty day simple moving average of $268.29 and a 200 day simple moving average of $244.36. The firm has a market capitalization of $149.21 billion, a price-to-earnings ratio of 21.94, a price-to-earnings-growth ratio of 2.15 and a beta of 1.10. Lowe’s Companies has a 1-year low of $196.23 and a 1-year high of $287.01.

Lowe’s Companies (NYSE:LOW) last released its earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share for the quarter, topping the consensus estimate of $3.96 by $0.14. Lowe’s Companies had a net margin of 8.19% and a negative return on equity of 47.55%. The business 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 firm’s quarterly revenue was down 5.5% compared to the same quarter last year. Equities analysts predict that Lowe’s Companies will post 11.82 earnings per share for the current year.

Lowe’s Companies Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd were issued a $1.15 dividend. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Wednesday, October 23rd. This represents a $4.60 annualized dividend and a yield of 1.75%. Lowe’s Companies’s dividend payout ratio is 38.37%.

Insider Activity at Lowe’s Companies

In other Lowe’s Companies news, EVP Margrethe R. Vagell sold 5,730 shares of the 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 directly owns 13,214 shares in the company, valued at $3,586,940.30. This represents a 30.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $248.82, for a total transaction of $1,684,262.58. Following the completion of the sale, the chief accounting officer now directly owns 9,383 shares in the company, valued at approximately $2,334,678.06. The trade was a 41.91 % decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by corporate insiders.

Institutional Trading of Lowe’s Companies

Several hedge funds have recently modified their holdings of LOW. Guardian Capital LP raised its holdings in shares of Lowe’s Companies by 2.5% in the first quarter. Guardian Capital LP now owns 7,588 shares of the home improvement retailer’s stock valued at $1,933,000 after buying an additional 188 shares during the last quarter. Stonebridge Capital Advisors LLC boosted its position in shares of Lowe’s Companies by 18.6% in the 1st quarter. Stonebridge Capital Advisors LLC now owns 1,410 shares of the home improvement retailer’s stock worth $359,000 after purchasing an additional 221 shares during the last quarter. Quadrature Capital Ltd bought a new stake in Lowe’s Companies in the first quarter valued at about $2,769,000. Truvestments Capital LLC grew its position in shares of Lowe’s Companies by 14.5% during the 1st quarter. Truvestments Capital LLC now owns 931 shares of the home improvement retailer’s stock worth $237,000 after buying an additional 118 shares during the period. Finally, Linscomb Wealth Inc. increased its stake in shares of Lowe’s Companies by 7.0% in the 1st quarter. Linscomb Wealth Inc. now owns 13,621 shares of the home improvement retailer’s stock valued at $3,470,000 after acquiring an additional 888 shares during the last quarter. Institutional investors and hedge funds own 74.06% of the company’s stock.

About Lowe’s Companies

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.