Lowe’s Companies (NYSE:LOW) Earns Buy Rating from Wells Fargo & Co

Wells Fargo & Co restated their buy rating on shares of Lowe’s Companies (NYSE:LOW) in a report released on Wednesday, AnalystRatings.com reports. They currently have a $135.00 target price on the home improvement retailer’s stock.

LOW has been the subject of a number of other reports. Credit Suisse Group cut their price target on Lowe’s Companies from $131.00 to $106.00 and set an outperform rating for the company in a report on Wednesday, April 1st. Jefferies Financial Group boosted their price target on Lowe’s Companies from $121.00 to $135.00 and gave the stock a buy rating in a report on Wednesday, May 13th. Wolfe Research raised Lowe’s Companies from a peer perform rating to an outperform rating in a report on Wednesday, March 25th. Telsey Advisory Group reissued an outperform rating on shares of Lowe’s Companies in a report on Friday, February 21st. Finally, Wedbush reissued an outperform rating and issued a $135.00 price target on shares of Lowe’s Companies in a report on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-seven have issued a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $132.54.

LOW stock traded up $1.61 during midday trading on Wednesday, hitting $122.25. 6,063,492 shares of the stock were exchanged, compared to its average volume of 6,207,421. The stock’s 50-day moving average price is $101.42 and its 200-day moving average price is $110.02. The stock has a market cap of $91.08 billion, a price-to-earnings ratio of 20.65, a PEG ratio of 1.33 and a beta of 1.38. Lowe’s Companies has a fifty-two week low of $60.00 and a fifty-two week high of $126.73. The company has a debt-to-equity ratio of 14.05, a quick ratio of 0.14 and a current ratio of 1.20.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings results on Wednesday, May 20th. The home improvement retailer reported $1.77 earnings per share for the quarter, topping the Zacks’ 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 during the quarter, compared to analysts’ expectations of $18.33 billion. During the same period in the previous year, the firm posted $1.22 earnings per share. The business’s revenue for the quarter was up 10.9% compared to the same quarter last year. Research analysts anticipate that Lowe’s Companies will post 5.97 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 6th. Shareholders of record on Wednesday, April 22nd were given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date was Tuesday, April 21st. Lowe’s Companies’s dividend payout ratio (DPR) is presently 38.46%.

In other news, CEO Marvin R. Ellison purchased 10,000 shares of the stock in a transaction on Friday, March 6th. The stock was purchased at an average price of $103.86 per share, with a total value of $1,038,600.00. Following the completion of the transaction, the chief executive officer now owns 90,090 shares in the company, valued at $9,356,747.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.07% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. The Manufacturers Life Insurance Company boosted its position in shares of Lowe’s Companies by 16.6% in the first quarter. The Manufacturers Life Insurance Company now owns 1,274,455 shares of the home improvement retailer’s stock worth $109,667,000 after buying an additional 181,114 shares during the period. FDx Advisors Inc. boosted its position in shares of Lowe’s Companies by 0.7% in the first quarter. FDx Advisors Inc. now owns 24,593 shares of the home improvement retailer’s stock worth $2,116,000 after buying an additional 171 shares during the period. Clearbridge Investments LLC boosted its position in shares of Lowe’s Companies by 5.8% in the first quarter. Clearbridge Investments LLC now owns 156,416 shares of the home improvement retailer’s stock worth $13,460,000 after buying an additional 8,553 shares during the period. Patton Albertson Miller Group LLC boosted its position in shares of Lowe’s Companies by 3.7% in the first quarter. Patton Albertson Miller Group LLC now owns 23,163 shares of the home improvement retailer’s stock worth $1,993,000 after buying an additional 826 shares during the period. Finally, Cim Investment Mangement Inc. boosted its position in shares of Lowe’s Companies by 3.4% in the first quarter. Cim Investment Mangement Inc. now owns 5,732 shares of the home improvement retailer’s stock worth $493,000 after buying an additional 191 shares during the period. 76.15% of the stock is owned by institutional investors.

About Lowe’s Companies

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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