Credit Suisse Group reissued their neutral rating on shares of Lowe’s Companies (NYSE:LOW) in a research note published on Wednesday morning, Marketbeat reports. They currently have a $111.00 target price on the home improvement retailer’s stock, down from their previous target price of $115.00.
Several other brokerages have also recently commented on LOW. Goldman Sachs Group set a $125.00 target price on shares of Lowe’s Companies and gave the company a buy rating in a research report on Friday, September 28th. Bank of America set a $132.00 target price on shares of Lowe’s Companies and gave the company a buy rating in a research report on Tuesday, October 2nd. SunTrust Banks upgraded shares of Lowe’s Companies from a hold rating to a buy rating and set a $55.00 target price for the company in a research report on Friday, September 28th. Telsey Advisory Group boosted their target price on shares of Lowe’s Companies from $123.00 to $126.00 and gave the company an outperform rating in a research report on Friday, September 28th. Finally, Robert W. Baird restated an outperform rating and issued a $130.00 target price (up from $120.00) on shares of Lowe’s Companies in a research report on Monday, September 17th. Nine equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. The company presently has an average rating of Buy and a consensus target price of $112.67.
NYSE LOW traded down $2.05 during trading on Wednesday, reaching $100.39. The company’s stock had a trading volume of 193,563 shares, compared to its average volume of 5,774,476. The company has a quick ratio of 0.25, a current ratio of 1.06 and a debt-to-equity ratio of 2.58. The company has a market capitalization of $92.81 billion, a P/E ratio of 23.04, a P/E/G ratio of 1.54 and a beta of 1.39. Lowe’s Companies has a 12 month low of $75.36 and a 12 month high of $117.70.
Lowe’s Companies (NYSE:LOW) last issued its earnings results on Wednesday, August 22nd. The home improvement retailer reported $2.07 EPS for the quarter, beating the consensus estimate of $2.02 by $0.05. The company had revenue of $20.89 billion during the quarter, compared to analysts’ expectations of $20.79 billion. Lowe’s Companies had a net margin of 5.58% and a return on equity of 71.96%. The business’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.57 EPS. Equities analysts expect that Lowe’s Companies will post 5.19 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 7th. Investors of record on Wednesday, October 24th will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date is Tuesday, October 23rd. Lowe’s Companies’s dividend payout ratio is 43.74%.
In related news, Director Lisa W. Wardell acquired 273 shares of the stock in a transaction that occurred on Friday, August 24th. The stock was acquired at an average cost of $107.72 per share, for a total transaction of $29,407.56. Following the transaction, the director now directly owns 273 shares in the company, valued at $29,407.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Marshall A. Croom sold 15,735 shares of the company’s stock in a transaction that occurred on Tuesday, September 18th. The stock was sold at an average price of $114.61, for a total transaction of $1,803,388.35. Following the transaction, the chief financial officer now owns 63,099 shares of the company’s stock, valued at $7,231,776.39. The disclosure for this sale can be found here. 0.30% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in LOW. Ironsides Asset Advisors LLC increased its position in Lowe’s Companies by 698.3% during the 2nd quarter. Ironsides Asset Advisors LLC now owns 8,327,089 shares of the home improvement retailer’s stock worth $98,637,000 after purchasing an additional 7,284,000 shares in the last quarter. Boston Partners increased its position in Lowe’s Companies by 382.4% in the 2nd quarter. Boston Partners now owns 4,784,235 shares of the home improvement retailer’s stock valued at $457,230,000 after acquiring an additional 3,792,479 shares during the period. Winslow Capital Management LLC acquired a new position in Lowe’s Companies in the 2nd quarter valued at approximately $303,908,000. Charles Schwab Investment Advisory Inc. acquired a new position in Lowe’s Companies in the 2nd quarter valued at approximately $266,540,000. Finally, Artisan Partners Limited Partnership acquired a new position in Lowe’s Companies in the 2nd quarter valued at approximately $206,665,000. Institutional investors and hedge funds own 74.49% 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, Canada, and Mexico. It offers a line of products for maintenance, repair, remodeling, and decorating. The company provides home improvement products in various categories, such as lumber and building materials, tools and hardware, appliances, fashion fixtures, rough plumbing and electrical, seasonal and outdoor living, lawn and garden, paint, millwork, flooring, and kitchens, as well as outdoor power equipment.
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