Lowe’s Companies (NYSE:LOW) Earns Neutral Rating from DA Davidson

DA Davidson reaffirmed their neutral rating on shares of Lowe’s Companies (NYSE:LOW) in a report published on Wednesday, MarketBeat.com reports. The firm currently has a $270.00 price target on the home improvement retailer’s stock.

LOW has been the subject of several other research reports. Telsey Advisory Group reissued a market perform rating and issued a $215.00 price target on shares of Lowe’s Companies in a research report on Friday, February 23rd. Wedbush raised their price target on Lowe’s Companies from $215.00 to $250.00 and gave the stock a neutral rating in a report on Wednesday, February 28th. Stifel Nicolaus dropped their price objective on Lowe’s Companies from $240.00 to $225.00 and set a hold rating on the stock in a report on Friday, February 16th. Truist Financial increased their price target on shares of Lowe’s Companies from $244.00 to $258.00 and gave the company a buy rating in a research report on Wednesday, February 28th. Finally, Barclays raised their target price on shares of Lowe’s Companies from $203.00 to $229.00 and gave the stock an equal weight rating in a research report on Thursday, January 4th. Thirteen investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of Hold and an average target price of $251.60.

Lowe’s Companies Stock Up 0.6 %

LOW stock opened at $254.73 on Wednesday. The firm has a 50-day simple moving average of $232.91 and a 200-day simple moving average of $216.26. The stock has a market capitalization of $145.75 billion, a P/E ratio of 19.36, a P/E/G ratio of 1.87 and a beta of 1.13. Lowe’s Companies has a 52 week low of $181.85 and a 52 week high of $262.49.

Lowe’s Companies (NYSE:LOW) last posted its earnings results on Tuesday, February 27th. The home improvement retailer reported $1.77 EPS for the quarter, beating analysts’ consensus estimates of $1.68 by $0.09. The company had revenue of $18.60 billion for the quarter, compared to the consensus estimate of $18.47 billion. Lowe’s Companies had a negative return on equity of 51.42% and a net margin of 8.94%. The company’s revenue for the quarter was down 17.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.28 earnings per share. On average, analysts expect that Lowe’s Companies will post 12.21 earnings per share for the current year.

Lowe’s Companies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Shareholders of record on Wednesday, April 24th will be given a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date is Tuesday, April 23rd. Lowe’s Companies’s payout ratio is 33.43%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. State Street Corp boosted its stake in Lowe’s Companies by 1.5% in the second quarter. State Street Corp now owns 25,223,923 shares of the home improvement retailer’s stock valued at $5,693,039,000 after acquiring an additional 374,457 shares during the period. Morgan Stanley increased its holdings in shares of Lowe’s Companies by 21.3% in the fourth quarter. Morgan Stanley now owns 11,690,606 shares of the home improvement retailer’s stock valued at $2,329,237,000 after buying an additional 2,050,089 shares in the last quarter. Norges Bank acquired a new stake in shares of Lowe’s Companies during the fourth quarter worth $1,638,746,000. Northern Trust Corp lifted its stake in Lowe’s Companies by 1.1% during the third quarter. Northern Trust Corp now owns 7,138,824 shares of the home improvement retailer’s stock valued at $1,483,733,000 after buying an additional 78,901 shares in the last quarter. Finally, Legal & General Group Plc lifted its position in shares of Lowe’s Companies by 27.6% in the 4th quarter. Legal & General Group Plc now owns 5,209,241 shares of the home improvement retailer’s stock valued at $1,159,315,000 after acquiring an additional 1,127,790 shares in the last quarter. 74.06% of the stock is owned by institutional investors and hedge funds.

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.