Lowe’s Companies (NYSE:LOW) Sets New 52-Week High Following Analyst Upgrade

Lowe’s Companies, Inc. (NYSE:LOW) reached a new 52-week high on Wednesday after Gordon Haskett upgraded the stock from a hold rating to a buy rating. Gordon Haskett now has a $325.00 price target on the stock. Lowe’s Companies traded as high as $276.42 and last traded at $276.1040, with a volume of 170795 shares. The stock had previously closed at $274.25.

LOW has been the subject of a number of other reports. DA Davidson cut their price target on Lowe’s Companies from $266.00 to $250.00 and set a “neutral” rating for the company in a report on Thursday, November 20th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Lowe’s Companies in a research note on Monday, December 29th. Barclays raised shares of Lowe’s Companies from an “equal weight” rating to an “overweight” rating and set a $285.00 price target for the company in a report on Wednesday, January 7th. Telsey Advisory Group dropped their price objective on shares of Lowe’s Companies from $305.00 to $285.00 and set an “outperform” rating on the stock in a report on Thursday, November 20th. Finally, Wall Street Zen upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a research note on Friday, October 3rd. Nineteen equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $279.35.

Insiders Place Their Bets

In related news, CEO Marvin R. Ellison sold 18,000 shares of the company’s stock in a transaction dated Friday, January 9th. The shares were sold at an average price of $261.17, for a total value of $4,701,060.00. Following the sale, the chief executive officer owned 231,043 shares of the company’s stock, valued at $60,341,500.31. The trade was a 7.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.27% of the stock is currently owned by insiders.

Institutional Trading of Lowe’s Companies

Large investors have recently added to or reduced their stakes in the company. SeaBridge Investment Advisors LLC grew its holdings in Lowe’s Companies by 3.7% during the 2nd quarter. SeaBridge Investment Advisors LLC now owns 12,888 shares of the home improvement retailer’s stock worth $2,859,000 after acquiring an additional 465 shares during the period. QRG Capital Management Inc. boosted its position in shares of Lowe’s Companies by 2.6% in the 2nd quarter. QRG Capital Management Inc. now owns 154,692 shares of the home improvement retailer’s stock worth $34,322,000 after purchasing an additional 3,947 shares during the last quarter. Strathmore Capital Advisors Inc. acquired a new stake in shares of Lowe’s Companies during the second quarter worth $2,717,000. First Pacific Financial increased its holdings in Lowe’s Companies by 147.3% in the second quarter. First Pacific Financial now owns 2,752 shares of the home improvement retailer’s stock valued at $611,000 after purchasing an additional 1,639 shares during the last quarter. Finally, Prudential Financial Inc. boosted its holdings in Lowe’s Companies by 0.7% during the second quarter. Prudential Financial Inc. now owns 826,356 shares of the home improvement retailer’s stock worth $183,344,000 after buying an additional 5,820 shares during the last quarter. 74.06% of the stock is owned by institutional investors.

Lowe’s Companies Stock Up 0.3%

The stock has a market cap of $154.28 billion, a P/E ratio of 22.81, a PEG ratio of 4.55 and a beta of 0.96. The stock has a fifty day simple moving average of $243.23 and a 200-day simple moving average of $243.78.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings results on Wednesday, November 26th. The home improvement retailer reported $3.06 earnings per share for the quarter, beating analysts’ consensus estimates of $2.97 by $0.09. Lowe’s Companies had a net margin of 8.05% and a negative return on equity of 55.86%. The business had revenue of $20.81 billion for the quarter, compared to the consensus estimate of $20.88 billion. During the same period last year, the company posted $2.89 EPS. Lowe’s Companies’s revenue for the quarter was up 3.2% on a year-over-year basis. Sell-side analysts anticipate that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current year.

Lowe’s Companies Dividend Announcement

The company also recently declared 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. The ex-dividend date of this dividend is Wednesday, January 21st. This represents a $4.80 annualized dividend and a dividend yield of 1.7%. Lowe’s Companies’s payout ratio is 39.80%.

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.