Wedbush Reiterates $95.00 Price Target for Lowe’s Companies (LOW)

Wedbush set a $95.00 price target on Lowe’s Companies (NYSE:LOW) in a research report released on Thursday. The firm currently has a hold rating on the home improvement retailer’s stock. Wedbush also issued estimates for Lowe’s Companies’ Q1 2020 earnings at $1.28 EPS, Q2 2020 earnings at $2.26 EPS and Q3 2020 earnings at $1.45 EPS.

Several other equities research analysts have also recently issued reports on LOW. Loop Capital set a $125.00 price objective on Lowe’s Companies and gave the stock a buy rating in a report on Wednesday, November 21st. Credit Suisse Group set a $99.00 price objective on Lowe’s Companies and gave the stock a hold rating in a report on Tuesday, December 11th. Wells Fargo & Co lifted their price objective on Lowe’s Companies from $105.00 to $110.00 and gave the stock an outperform rating in a report on Thursday. Stifel Nicolaus boosted their target price on Lowe’s Companies from $105.00 to $125.00 and gave the stock a buy rating in a report on Thursday, August 23rd. Finally, KeyCorp boosted their target price on Lowe’s Companies from $115.00 to $125.00 and gave the stock an overweight rating in a report on Thursday, August 23rd. Ten research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. Lowe’s Companies currently has an average rating of Buy and an average target price of $111.92.

LOW stock opened at $93.36 on Thursday. The company has a debt-to-equity ratio of 2.68, a quick ratio of 0.18 and a current ratio of 1.00. Lowe’s Companies has a 12-month low of $81.16 and a 12-month high of $117.70. The stock has a market capitalization of $74.96 billion, a P/E ratio of 18.52, a PEG ratio of 1.29 and a beta of 1.55.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings data on Tuesday, November 20th. The home improvement retailer reported $1.04 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.98 by $0.06. Lowe’s Companies had a return on equity of 72.47% and a net margin of 5.19%. The company had revenue of $17.42 billion for the quarter, compared to analysts’ expectations of $17.36 billion. During the same period in the previous year, the firm posted $1.05 EPS. Lowe’s Companies’s revenue was up 3.8% compared to the same quarter last year. As a group, analysts expect that Lowe’s Companies will post 5.11 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 6th. Investors of record on Wednesday, January 23rd will be issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date of this dividend is Tuesday, January 22nd. Lowe’s Companies’s dividend payout ratio is presently 43.74%.

In related news, CFO Marshall A. Croom sold 15,735 shares of the company’s stock in a transaction that occurred on Tuesday, September 18th. The stock was sold at an average price of $114.61, for a total value of $1,803,388.35. Following the transaction, the chief financial officer now directly owns 63,099 shares in the company, valued at $7,231,776.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Brian C. Rogers acquired 10,000 shares of the firm’s stock in a transaction that occurred on Friday, November 23rd. The stock was acquired at an average price of $88.02 per share, for a total transaction of $880,200.00. Following the completion of the acquisition, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $880,200. The disclosure for this purchase can be found here. Corporate insiders own 0.30% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Marshall Wace North America L.P. acquired a new position in Lowe’s Companies in the third quarter valued at approximately $7,097,000. Marshall Wace LLP raised its position in Lowe’s Companies by 77.0% in the third quarter. Marshall Wace LLP now owns 21,834 shares of the home improvement retailer’s stock valued at $2,507,000 after purchasing an additional 9,498 shares during the period. MARSHALL WACE ASIA Ltd purchased a new stake in Lowe’s Companies in the third quarter valued at approximately $3,695,000. Strategic Wealth Partners Ltd. raised its position in Lowe’s Companies by 4.7% in the third quarter. Strategic Wealth Partners Ltd. now owns 14,912 shares of the home improvement retailer’s stock valued at $1,712,000 after purchasing an additional 666 shares during the period. Finally, Clearbridge Investments LLC raised its position in Lowe’s Companies by 300.7% in the third quarter. Clearbridge Investments LLC now owns 508,842 shares of the home improvement retailer’s stock valued at $58,425,000 after purchasing an additional 381,861 shares during the period. Hedge funds and other institutional investors own 73.87% of the company’s stock.

About Lowe’s Companies

Lowe’s Cos., Inc engages in the retail sale of home improvement products. It offers products for maintenance, repair, remodeling, home decorating, and property maintenance. It also provides home improvement products in the following categories: appliances, bathroom, building supply, electrical, flooring, hardware, paint, kitchen, plumbing, lighting & fans, outdoor living, windows, and doors.

Read More: Asset Allocation, Balancing Your Investments

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

Receive News & Ratings for Lowe's Companies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lowe's Companies and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply