Bank of America Cuts Lowe’s Companies (NYSE:LOW) Price Target to $280.00

Lowe’s Companies (NYSE:LOW) had its price target cut by Bank of America from $290.00 to $280.00 in a research note released on Thursday,Benzinga reports. They currently have a buy rating on the home improvement retailer’s stock.

Several other brokerages have also weighed in on LOW. Oppenheimer increased their price objective on shares of Lowe’s Companies from $305.00 to $320.00 and gave the stock an “outperform” rating in a report on Thursday, September 25th. Gordon Haskett raised shares of Lowe’s Companies to a “hold” rating in a research report on Wednesday, August 13th. Evercore ISI reaffirmed a “positive” rating on shares of Lowe’s Companies in a research note on Thursday. JPMorgan Chase & Co. decreased their price target on shares of Lowe’s Companies from $283.00 to $275.00 and set an “overweight” rating on the stock in a report on Monday, November 10th. Finally, Mizuho lowered their price objective on shares of Lowe’s Companies from $285.00 to $272.00 and set an “outperform” rating for the company in a research note on Thursday. Sixteen research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Lowe’s Companies presently has an average rating of “Moderate Buy” and an average target price of $274.75.

Lowe’s Companies Stock Up 2.5%

LOW stock opened at $234.12 on Thursday. The stock has a market capitalization of $131.30 billion, a price-to-earnings ratio of 19.24, a price-to-earnings-growth ratio of 2.21 and a beta of 0.87. Lowe’s Companies has a 52-week low of $206.38 and a 52-week high of $280.64. The stock’s fifty day simple moving average is $243.31 and its 200-day simple moving average is $237.49.

Lowe’s Companies (NYSE:LOW) last released its earnings results on Wednesday, November 19th. The home improvement retailer reported $3.06 EPS for the quarter, beating the consensus estimate of $2.97 by $0.09. Lowe’s Companies had a negative return on equity of 52.02% and a net margin of 8.20%.The firm had revenue of $20.81 billion during the quarter, compared to analyst estimates of $20.88 billion. During the same period in the prior year, the firm posted $2.89 earnings per share. The business’s quarterly revenue was up 3.2% compared to the same quarter last year. Lowe’s Companies has set its FY 2025 guidance at 12.250-12.250 EPS. As a group, analysts anticipate that Lowe’s Companies will post 11.9 earnings per share for the current fiscal year.

Lowe’s Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 4th. Stockholders of record on Wednesday, January 21st will be paid a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Wednesday, January 21st. Lowe’s Companies’s dividend payout ratio (DPR) is currently 39.80%.

Insider Activity at Lowe’s Companies

In other Lowe’s Companies news, EVP Juliette Williams Pryor sold 929 shares of the firm’s stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $257.20, for a total value of $238,938.80. Following the transaction, the executive vice president directly owned 30,099 shares of the company’s stock, valued at $7,741,462.80. This trade represents a 2.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Brandon J. Sink sold 8,192 shares of the business’s stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $268.58, for a total value of $2,200,207.36. Following the transaction, the executive vice president owned 21,603 shares in the company, valued at approximately $5,802,133.74. This represents a 27.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 52,931 shares of company stock worth $14,381,752. 0.27% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Lowe’s Companies

Large investors have recently modified their holdings of the stock. Brighton Jones LLC grew its position in Lowe’s Companies by 119.7% in the fourth quarter. Brighton Jones LLC now owns 31,965 shares of the home improvement retailer’s stock valued at $7,889,000 after acquiring an additional 17,413 shares in the last quarter. Revolve Wealth Partners LLC boosted its stake in shares of Lowe’s Companies by 31.6% in the fourth quarter. Revolve Wealth Partners LLC now owns 1,078 shares of the home improvement retailer’s stock valued at $266,000 after purchasing an additional 259 shares during the period. Y Intercept Hong Kong Ltd grew its holdings in Lowe’s Companies by 116.9% during the 1st quarter. Y Intercept Hong Kong Ltd now owns 3,099 shares of the home improvement retailer’s stock valued at $723,000 after purchasing an additional 1,670 shares in the last quarter. Roundview Capital LLC increased its stake in Lowe’s Companies by 1.1% during the 1st quarter. Roundview Capital LLC now owns 10,421 shares of the home improvement retailer’s stock worth $2,430,000 after buying an additional 109 shares during the period. Finally, AE Wealth Management LLC increased its stake in Lowe’s Companies by 10.2% during the 1st quarter. AE Wealth Management LLC now owns 15,364 shares of the home improvement retailer’s stock worth $3,583,000 after buying an additional 1,417 shares during the period. Institutional investors and hedge funds own 74.06% of the company’s stock.

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.