Lowe’s Companies (NYSE:LOW) Stock Price Expected to Rise, Truist Financial Analyst Says

by · The Cerbat Gem

Lowe’s Companies (NYSE:LOW – Free Report) had its price target upped by Truist Financial from $306.00 to $307.00 in a research note issued to investors on Thursday,Benzinga reports. Truist Financial currently has a buy rating on the home improvement retailer’s stock.

Other research analysts also recently issued research reports about the stock. 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 on the stock in a research report on Wednesday, August 21st. Sanford C. Bernstein started coverage on Lowe’s Companies in a research report on Tuesday, October 22nd. They set an “outperform” rating and a $323.00 target price on the stock. StockNews.com raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a research report on Wednesday, September 18th. Morgan Stanley raised their price objective on shares of Lowe’s Companies from $250.00 to $255.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Finally, TD Cowen increased their target price on shares of Lowe’s Companies from $270.00 to $290.00 and gave the company a “hold” rating in a report on Monday, October 28th. Ten investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $273.44.

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Lowe’s Companies Stock Performance

Shares of Lowe’s Companies stock traded up $4.87 on Thursday, hitting $271.17. The stock had a trading volume of 1,462,237 shares, compared to its average volume of 2,441,160. Lowe’s Companies has a twelve month low of $189.05 and a twelve month high of $287.01. The stock has a 50 day moving average of $263.77 and a 200 day moving average of $241.67. The firm has a market capitalization of $153.83 billion, a P/E ratio of 22.08, a PEG ratio of 2.18 and a beta of 1.10.

Lowe’s Companies (NYSE:LOW – Get Free Report) last announced its earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share for the quarter, topping analysts’ consensus estimates of $3.96 by $0.14. Lowe’s Companies had a net margin of 8.25% and a negative return on equity of 47.07%. The business had revenue of $23.59 billion during the quarter, compared to the consensus estimate of $23.93 billion. During the same quarter last year, the firm earned $4.56 earnings per share. Lowe’s Companies’s quarterly revenue was down 5.5% on a year-over-year basis. Equities analysts expect that Lowe’s Companies will post 11.91 earnings per share for the current year.

Lowe’s Companies Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd were paid a $1.15 dividend. The ex-dividend date of this dividend was Wednesday, October 23rd. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.15. This represents a $4.60 dividend on an annualized basis and a yield of 1.70%. Lowe’s Companies’s dividend payout ratio (DPR) is 38.14%.

Insider Activity

In related news, EVP Margrethe R. Vagell sold 5,730 shares of the stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $271.45, for a total transaction of $1,555,408.50. Following the sale, the executive vice president now directly owns 13,214 shares of the company’s stock, valued at approximately $3,586,940.30. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, EVP Margrethe R. Vagell sold 5,730 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $271.45, for a total value of $1,555,408.50. Following the completion of the sale, the executive vice president now directly owns 13,214 shares in the company, valued at $3,586,940.30. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, 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 owns 9,383 shares of the company’s stock, valued at $2,334,678.06. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.26% of the company’s stock.

Institutional Investors Weigh In On Lowe’s Companies

Institutional investors and hedge funds have recently made changes to their positions in the stock. JNBA Financial Advisors raised its position in Lowe’s Companies by 555.6% in the third quarter. JNBA Financial Advisors now owns 118 shares of the home improvement retailer’s stock valued at $32,000 after purchasing an additional 100 shares during the period. MFA Wealth Advisors LLC increased its position in shares of Lowe’s Companies by 118.6% during the third quarter. MFA Wealth Advisors LLC now owns 129 shares of the home improvement retailer’s stock worth $35,000 after acquiring an additional 70 shares during the period. Stephens Consulting LLC raised its stake in shares of Lowe’s Companies by 93.3% in the second quarter. Stephens Consulting LLC now owns 145 shares of the home improvement retailer’s stock valued at $32,000 after acquiring an additional 70 shares in the last quarter. Kimelman & Baird LLC acquired a new position in Lowe’s Companies during the 2nd quarter worth $37,000. Finally, Tsfg LLC raised its position in Lowe’s Companies by 128.2% in the 3rd quarter. Tsfg LLC now owns 178 shares of the home improvement retailer’s stock valued at $48,000 after purchasing an additional 100 shares in the last quarter. 74.06% of the stock is owned by hedge funds and other institutional investors.

Lowe’s Companies Company Profile

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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.

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