Lowe’s Companies (NYSE:LOW) Price Target Raised to $285.00

Lowe’s Companies (NYSE:LOW) had its target price upped by Jefferies Financial Group from $280.00 to $285.00 in a report published on Friday morning,MarketScreener reports. They currently have a buy rating on the home improvement retailer’s stock.

A number of other brokerages have also recently issued reports on LOW. Evercore ISI reiterated a “positive” rating on shares of Lowe’s Companies in a report on Thursday, November 20th. KeyCorp upped their price objective on shares of Lowe’s Companies from $266.00 to $300.00 and gave the stock an “overweight” rating in a report on Thursday, August 21st. Wolfe Research dropped their price objective on shares of Lowe’s Companies from $308.00 to $285.00 and set an “outperform” rating on the stock in a research note on Monday, November 24th. DA Davidson reduced their price objective on shares of Lowe’s Companies from $266.00 to $250.00 and set a “neutral” rating for the company in a report on Thursday, November 20th. Finally, Truist Financial set a $269.00 target price on shares of Lowe’s Companies in a research report on Wednesday. Seventeen research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Lowe’s Companies currently has a consensus rating of “Moderate Buy” and an average target price of $276.80.

Lowe’s Companies Price Performance

LOW stock opened at $240.72 on Friday. The company’s 50-day moving average is $239.68 and its 200-day moving average is $239.98. The stock has a market capitalization of $135.03 billion, a PE ratio of 19.96, a price-to-earnings-growth ratio of 3.99 and a beta of 0.96. Lowe’s Companies has a 1 year low of $206.38 and a 1 year high of $274.98.

Lowe’s Companies (NYSE:LOW) last issued its earnings results on Wednesday, November 19th. The home improvement retailer reported $3.06 EPS for the quarter, beating analysts’ consensus estimates of $2.97 by $0.09. The business had revenue of $20.81 billion during the quarter, compared to analyst estimates of $20.88 billion. Lowe’s Companies had a negative return on equity of 55.86% and a net margin of 8.05%.The firm’s revenue was up 3.2% compared to the same quarter last year. During the same period in the previous year, the company posted $2.89 EPS. Lowe’s Companies has set its FY 2025 guidance at 12.250-12.250 EPS. On average, analysts anticipate that Lowe’s Companies will post 11.9 earnings per share for the current fiscal year.

Lowe’s Companies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 4th. Stockholders of record on Wednesday, January 21st will be issued a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Wednesday, January 21st. Lowe’s Companies’s dividend payout ratio is presently 39.80%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in LOW. Vanguard Group Inc. increased its position in shares of Lowe’s Companies by 0.6% during the third quarter. Vanguard Group Inc. now owns 55,306,162 shares of the home improvement retailer’s stock valued at $13,898,992,000 after buying an additional 329,807 shares during the period. State Street Corp lifted its holdings in Lowe’s Companies by 0.5% in the third quarter. State Street Corp now owns 25,036,276 shares of the home improvement retailer’s stock worth $6,291,867,000 after buying an additional 124,501 shares during the period. Geode Capital Management LLC boosted its position in Lowe’s Companies by 0.3% during the 2nd quarter. Geode Capital Management LLC now owns 12,351,783 shares of the home improvement retailer’s stock valued at $2,732,049,000 after acquiring an additional 42,190 shares in the last quarter. Norges Bank purchased a new position in shares of Lowe’s Companies during the 2nd quarter worth approximately $1,773,624,000. Finally, Northern Trust Corp grew its holdings in shares of Lowe’s Companies by 1.5% during the 3rd quarter. Northern Trust Corp now owns 6,830,080 shares of the home improvement retailer’s stock worth $1,716,467,000 after acquiring an additional 103,827 shares during the period. 74.06% of the stock is owned by hedge funds and other institutional investors.

Lowe’s Companies Company Profile

Lowe’s Companies, Inc is a leading home improvement retailer that operates large-format stores and digital channels serving both do-it-yourself homeowners and professional contractors. The company offers a broad assortment of products including building materials, lumber, appliances, tools and hardware, plumbing and electrical supplies, paint, flooring, kitchen and bath fixtures, outdoor and garden products, and home decor. Lowe’s also provides a range of services such as installation, home improvement financing, tool and equipment rental, and contractor-focused sales programs.

Operations are centered on a nationwide brick-and-mortar store network supported by distribution centers and an e-commerce platform that enables online ordering, delivery and in-store pickup.