Lowe’s Companies (NYSE:LOW) PT Raised to $269.00 at Truist Financial

Lowe’s Companies (NYSE:LOW) had its price objective boosted by Truist Financial from $265.00 to $269.00 in a report published on Wednesday morning, Benzinga reports. The firm currently has a buy rating on the home improvement retailer’s stock.

Several other research analysts also recently weighed in on LOW. Telsey Advisory Group restated a market perform rating and issued a $230.00 price target on shares of Lowe’s Companies in a research note on Tuesday, August 20th. Citigroup dropped their target price on shares of Lowe’s Companies from $243.00 to $240.00 and set a neutral rating for the company in a research report on Tuesday, May 7th. Evercore ISI cut their target price on shares of Lowe’s Companies from $250.00 to $225.00 and set an in-line rating for the company in a research note on Tuesday, July 2nd. Wedbush reiterated a neutral rating and issued a $250.00 price target on shares of Lowe’s Companies in a research note on Wednesday. Finally, Royal Bank of Canada restated a sector perform rating and set a $246.00 price objective on shares of Lowe’s Companies in a research report on Wednesday, May 22nd. Twelve research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $254.04.

Lowe’s Companies Stock Performance

LOW opened at $250.07 on Wednesday. The stock has a market cap of $142.50 billion, a price-to-earnings ratio of 20.09, a price-to-earnings-growth ratio of 1.85 and a beta of 1.07. The firm’s fifty day moving average is $231.99 and its 200 day moving average is $232.64. Lowe’s Companies has a fifty-two week low of $181.85 and a fifty-two week high of $262.49.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 EPS for the quarter, beating analysts’ consensus estimates of $3.96 by $0.14. The business had revenue of $23.59 billion for the quarter, compared to analysts’ expectations of $23.93 billion. Lowe’s Companies had a negative return on equity of 48.52% and a net margin of 8.46%. The business’s quarterly revenue was down 5.5% on a year-over-year basis. During the same period last year, the firm earned $4.56 earnings per share. On average, equities research analysts predict that Lowe’s Companies will post 12.23 earnings per share for the current year.

Lowe’s Companies Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 7th. Investors of record on Wednesday, July 24th were issued a $0.15 dividend. The ex-dividend date was Wednesday, July 24th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.24%. Lowe’s Companies’s payout ratio is 36.95%.

Institutional Investors Weigh In On Lowe’s Companies

A number of institutional investors and hedge funds have recently bought and sold shares of LOW. Drive Wealth Management LLC grew its position in shares of Lowe’s Companies by 2.2% during the 2nd quarter. Drive Wealth Management LLC now owns 1,894 shares of the home improvement retailer’s stock worth $418,000 after buying an additional 41 shares in the last quarter. Crown Wealth Group LLC lifted its stake in Lowe’s Companies by 4.4% in the second quarter. Crown Wealth Group LLC now owns 1,051 shares of the home improvement retailer’s stock worth $232,000 after acquiring an additional 44 shares during the period. Pure Financial Advisors LLC grew its holdings in Lowe’s Companies by 2.5% during the 2nd quarter. Pure Financial Advisors LLC now owns 1,813 shares of the home improvement retailer’s stock worth $400,000 after acquiring an additional 45 shares in the last quarter. BLB&B Advisors LLC increased its position in Lowe’s Companies by 2.2% during the 2nd quarter. BLB&B Advisors LLC now owns 2,062 shares of the home improvement retailer’s stock valued at $454,000 after purchasing an additional 45 shares during the period. Finally, Pathway Financial Advisers LLC increased its position in Lowe’s Companies by 3.5% during the 2nd quarter. Pathway Financial Advisers LLC now owns 1,331 shares of the home improvement retailer’s stock valued at $292,000 after purchasing an additional 45 shares during the period. 74.06% of the stock is owned by institutional investors.

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.