Lowe’s Companies (NYSE:LOW) Earns Buy Rating from Analysts at Melius Research

Melius Research began coverage on shares of Lowe’s Companies (NYSE:LOW) in a research note published on Monday, Marketbeat reports. The brokerage issued a buy rating and a $290.00 price target on the home improvement retailer’s stock.

A number of other equities analysts have also weighed in on LOW. Telsey Advisory Group restated a market perform rating and issued a $230.00 target price on shares of Lowe’s Companies in a research note on Tuesday, August 20th. JPMorgan Chase & Co. lowered their target price on shares of Lowe’s Companies from $272.00 to $270.00 and set an overweight rating on the stock in a research note on Wednesday, August 21st. Royal Bank of Canada dropped their target price on shares of Lowe’s Companies from $245.00 to $238.00 and set a sector perform rating for the company in a research report on Wednesday, August 21st. Truist Financial raised their price objective on shares of Lowe’s Companies from $265.00 to $269.00 and gave the company a buy rating in a research report on Wednesday, August 21st. Finally, Evercore ISI upped their target price on shares of Lowe’s Companies from $225.00 to $250.00 and gave the stock an in-line rating in a research report on Wednesday, August 21st. Eleven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $258.13.

Lowe’s Companies Stock Down 0.4 %

Shares of NYSE:LOW opened at $264.89 on Monday. The firm has a market capitalization of $150.94 billion, a PE ratio of 21.28, a P/E/G ratio of 2.15 and a beta of 1.10. The company has a 50-day moving average price of $244.69 and a two-hundred day moving average price of $235.64. Lowe’s Companies has a twelve month low of $181.85 and a twelve month high of $268.09.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings data on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share (EPS) for the quarter, topping 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 47.07% and a net margin of 8.25%. The firm’s quarterly revenue was down 5.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.56 EPS. Analysts anticipate that Lowe’s Companies will post 11.93 earnings per share for the current fiscal year.

Lowe’s Companies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 6th. Investors of record on Wednesday, October 23rd will be given a dividend of $1.15 per share. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.15. The ex-dividend date is Wednesday, October 23rd. This represents a $4.60 dividend on an annualized basis and a yield of 1.74%. Lowe’s Companies’s dividend payout ratio is presently 36.95%.

Insider Buying and Selling at Lowe’s Companies

In other news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $248.82, for a total transaction of $1,684,262.58. Following the transaction, the chief accounting officer now directly owns 9,383 shares of the company’s stock, valued at $2,334,678.06. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.26% of the stock is owned by insiders.

Hedge Funds Weigh In On Lowe’s Companies

Several hedge funds have recently modified their holdings of the stock. Voisard Asset Management Group Inc. purchased a new stake in Lowe’s Companies during the 4th quarter worth approximately $28,000. Keener Financial Planning LLC acquired a new position in shares of Lowe’s Companies in the 1st quarter valued at $35,000. Transcendent Capital Group LLC purchased a new position in Lowe’s Companies in the 4th quarter worth $31,000. Stephens Consulting LLC lifted its position in Lowe’s Companies by 93.3% during the 2nd quarter. Stephens Consulting LLC now owns 145 shares of the home improvement retailer’s stock worth $32,000 after acquiring an additional 70 shares during the period. Finally, Kimelman & Baird LLC purchased a new stake in Lowe’s Companies during the 2nd quarter valued at about $37,000. Institutional investors and hedge funds own 74.06% of the company’s stock.

About Lowe’s Companies

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.