Lowe’s Companies (NYSE:LOW) Rating Lowered to Market Perform at Oppenheimer

Oppenheimer cut shares of Lowe’s Companies (NYSE:LOW) from an outperform rating to a market perform rating in a research note published on Friday morning, Benzinga reports. Oppenheimer currently has $180.00 price objective on the home improvement retailer’s stock, down from their previous price objective of $185.00.

LOW has been the subject of several other research reports. Nomura boosted their target price on Lowe’s Companies from $130.00 to $146.00 and gave the stock a buy rating in a research note on Tuesday, June 23rd. Royal Bank of Canada boosted their target price on Lowe’s Companies from $165.00 to $188.00 and gave the stock an outperform rating in a research note on Thursday, August 20th. BofA Securities boosted their target price on Lowe’s Companies from $176.00 to $200.00 and gave the stock a buy rating in a research note on Thursday, August 20th. Piper Sandler boosted their price objective on Lowe’s Companies from $170.00 to $185.00 in a research note on Thursday, August 20th. Finally, Nomura Instinet boosted their price objective on Lowe’s Companies from $130.00 to $146.00 and gave the company a buy rating in a research note on Tuesday, June 23rd. Four equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. Lowe’s Companies has an average rating of Buy and an average target price of $166.84.

Shares of LOW opened at $159.60 on Friday. The stock has a 50-day simple moving average of $159.12 and a 200-day simple moving average of $125.73. The company has a debt-to-equity ratio of 4.64, a quick ratio of 0.65 and a current ratio of 1.30. The stock has a market capitalization of $120.62 billion, a PE ratio of 21.22, a PEG ratio of 1.21 and a beta of 1.50. Lowe’s Companies has a 1 year low of $60.00 and a 1 year high of $171.72.

Lowe’s Companies (NYSE:LOW) last posted its earnings results on Wednesday, August 19th. The home improvement retailer reported $3.75 earnings per share for the quarter, topping the consensus estimate of $2.95 by $0.80. The firm had revenue of $27.30 billion during the quarter, compared to analysts’ expectations of $24.24 billion. Lowe’s Companies had a return on equity of 228.17% and a net margin of 7.12%. The firm’s revenue was up 30.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.15 earnings per share. Analysts predict that Lowe’s Companies will post 8.39 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 4th. Shareholders of record on Wednesday, October 21st will be issued a $0.60 dividend. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend is Tuesday, October 20th. This represents a $2.40 annualized dividend and a yield of 1.50%. Lowe’s Companies’s dividend payout ratio is 38.46%.

In other Lowe’s Companies news, EVP Ross W. Mccanless sold 62,838 shares of the company’s stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $168.33, for a total value of $10,577,520.54. Following the sale, the executive vice president now owns 72,967 shares of the company’s stock, valued at $12,282,535.11. 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 corporate insiders.

Large investors have recently modified their holdings of the company. Two Sigma Advisers LP grew its stake in Lowe’s Companies by 157.7% during the 2nd quarter. Two Sigma Advisers LP now owns 2,983,502 shares of the home improvement retailer’s stock valued at $403,131,000 after purchasing an additional 1,825,900 shares in the last quarter. Schonfeld Strategic Advisors LLC grew its stake in Lowe’s Companies by 5,299.3% during the 2nd quarter. Schonfeld Strategic Advisors LLC now owns 141,623 shares of the home improvement retailer’s stock valued at $19,136,000 after purchasing an additional 139,000 shares in the last quarter. Hayek Kallen Investment Management grew its stake in Lowe’s Companies by 60.8% during the 2nd quarter. Hayek Kallen Investment Management now owns 13,676 shares of the home improvement retailer’s stock valued at $1,848,000 after purchasing an additional 5,171 shares in the last quarter. Principal Financial Group Inc. grew its stake in Lowe’s Companies by 1.8% during the 2nd quarter. Principal Financial Group Inc. now owns 1,144,941 shares of the home improvement retailer’s stock valued at $154,704,000 after purchasing an additional 20,251 shares in the last quarter. Finally, Capital Advisors Inc. OK acquired a new stake in Lowe’s Companies during the 2nd quarter valued at approximately $225,000. Institutional investors and hedge funds own 74.63% 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, 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.

See Also: Example of operating income, EBIT and EBITDA

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

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