TD Cowen Issues Positive Forecast for Lowe’s Companies (NYSE:LOW) Stock Price

Lowe’s Companies (NYSE:LOW) had its price target upped by TD Cowen from $250.00 to $295.00 in a research report report published on Tuesday,Benzinga reports. TD Cowen currently has a hold rating on the home improvement retailer’s stock.

Other research analysts have also issued reports about the company. Argus lowered their price target on Lowe’s Companies from $290.00 to $286.00 and set a “buy” rating on the stock in a report on Tuesday, December 2nd. Stifel Nicolaus raised their target price on shares of Lowe’s Companies from $230.00 to $250.00 and gave the company a “hold” rating in a research note on Monday, December 1st. Oppenheimer dropped their price target on shares of Lowe’s Companies from $320.00 to $315.00 and set an “outperform” rating on the stock in a research report on Friday, December 5th. Jefferies Financial Group upped their price target on shares of Lowe’s Companies from $280.00 to $285.00 and gave the stock a “buy” rating in a research note on Friday, December 19th. Finally, Gordon Haskett upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating and set a $325.00 price objective for the company in a report on Tuesday, January 13th. Nineteen analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $283.65.

Lowe’s Companies Stock Performance

Lowe’s Companies stock opened at $268.45 on Tuesday. The company has a 50-day simple moving average of $246.58 and a 200-day simple moving average of $245.27. The firm has a market capitalization of $150.58 billion, a P/E ratio of 22.26, a P/E/G ratio of 4.60 and a beta of 0.96. Lowe’s Companies has a one year low of $206.38 and a one year high of $278.44.

Lowe’s Companies (NYSE:LOW) last posted its earnings results on Wednesday, November 26th. The home improvement retailer reported $3.06 EPS for the quarter, topping the consensus estimate of $2.97 by $0.09. The firm had revenue of $20.81 billion during the quarter, compared to analysts’ expectations of $20.88 billion. Lowe’s Companies had a net margin of 8.05% and a negative return on equity of 55.86%. Lowe’s Companies’s quarterly revenue was up 3.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.89 EPS. As a group, sell-side analysts forecast that Lowe’s Companies will post 11.9 earnings per share for the current year.

Lowe’s Companies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 4th. Shareholders of record on Wednesday, January 21st will be issued a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 1.8%. The ex-dividend date is Wednesday, January 21st. Lowe’s Companies’s payout ratio is presently 39.80%.

Insider Buying and Selling

In other Lowe’s Companies 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 transaction of $4,701,060.00. Following the completion of the sale, the chief executive officer directly owned 231,043 shares of the company’s stock, valued at approximately $60,341,500.31. This represents a 7.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.27% of the company’s stock.

Institutional Investors Weigh In On Lowe’s Companies

A number of large investors have recently made changes to their positions in the company. Howard Hughes Medical Institute acquired a new stake in shares of Lowe’s Companies in the 2nd quarter valued at $27,000. Solstein Capital LLC raised its holdings in Lowe’s Companies by 627.8% during the second quarter. Solstein Capital LLC now owns 131 shares of the home improvement retailer’s stock valued at $29,000 after buying an additional 113 shares in the last quarter. Activest Wealth Management lifted its position in shares of Lowe’s Companies by 78.5% in the third quarter. Activest Wealth Management now owns 116 shares of the home improvement retailer’s stock worth $29,000 after buying an additional 51 shares during the last quarter. Traub Capital Management LLC bought a new stake in shares of Lowe’s Companies during the 2nd quarter worth about $30,000. Finally, Vermillion & White Wealth Management Group LLC boosted its stake in shares of Lowe’s Companies by 128.8% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 135 shares of the home improvement retailer’s stock worth $30,000 after acquiring an additional 76 shares in the last quarter. Institutional investors and hedge funds own 74.06% of the company’s stock.

About Lowe’s Companies

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.