Truist Financial Forecasts Strong Price Appreciation for Lowe’s Companies (NYSE:LOW) Stock

Lowe’s Companies (NYSE:LOW) had its price objective increased by Truist Financial from $306.00 to $307.00 in a research report report published on Thursday morning,Benzinga reports. The firm currently has a buy rating on the home improvement retailer’s stock.

LOW has been the subject of a number of other research reports. StockNews.com upgraded Lowe’s Companies from a “hold” rating to a “buy” rating in a research note on Wednesday, September 18th. UBS Group raised their price objective on Lowe’s Companies from $270.00 to $290.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. Telsey Advisory Group raised their price objective on Lowe’s Companies from $230.00 to $275.00 and gave the company a “market perform” rating in a research report on Wednesday, October 2nd. Loop Capital raised Lowe’s Companies from a “hold” rating to a “buy” rating and lifted their target price for the stock from $250.00 to $300.00 in a report on Wednesday, October 9th. Finally, Melius Research began coverage on Lowe’s Companies in a report on Monday, September 23rd. They issued a “buy” rating and a $290.00 target price for the company. Ten investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $273.44.

Lowe’s Companies Stock Up 1.8 %

Shares of Lowe’s Companies stock traded up $4.80 during trading on Thursday, hitting $271.10. 2,102,467 shares of the stock traded hands, compared to its average volume of 2,186,897. The stock has a market cap of $153.79 billion, a price-to-earnings ratio of 22.48, a PEG ratio of 2.15 and a beta of 1.10. The firm’s fifty day moving average is $264.61 and its 200-day moving average is $242.11. Lowe’s Companies has a 52 week low of $189.05 and a 52 week high of $287.01.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings data on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share for the quarter, topping the consensus estimate of $3.96 by $0.14. Lowe’s Companies had a negative return on equity of 47.07% and a net margin of 8.25%. The business had revenue of $23.59 billion during the quarter, compared to analysts’ expectations of $23.93 billion. During the same quarter last year, the business posted $4.56 EPS. The business’s revenue was down 5.5% on a year-over-year basis. On average, analysts forecast that Lowe’s Companies will post 11.91 earnings per share for the current fiscal year.

Lowe’s Companies Increases Dividend

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

Insider Transactions at Lowe’s Companies

In other news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of Lowe’s Companies stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $248.82, for a total value of $1,684,262.58. Following the sale, the chief accounting officer now directly owns 9,383 shares of the company’s stock, valued at approximately $2,334,678.06. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Lowe’s Companies 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 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 $3,586,940.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $248.82, for a total value of $1,684,262.58. Following the sale, the chief accounting officer now directly owns 9,383 shares in the company, valued at $2,334,678.06. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.26% of the company’s stock.

Institutional Investors Weigh In On Lowe’s Companies

Several large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in shares of Lowe’s Companies by 5.2% during the first quarter. Vanguard Group Inc. now owns 53,693,630 shares of the home improvement retailer’s stock valued at $13,677,378,000 after buying an additional 2,674,372 shares during the last quarter. International Assets Investment Management LLC grew its stake in shares of Lowe’s Companies by 1,889.7% during the third quarter. International Assets Investment Management LLC now owns 2,134,969 shares of the home improvement retailer’s stock valued at $578,256,000 after buying an additional 2,027,668 shares during the last quarter. Strategic Financial Concepts LLC grew its stake in shares of Lowe’s Companies by 20,275.6% during the second quarter. Strategic Financial Concepts LLC now owns 1,205,014 shares of the home improvement retailer’s stock valued at $2,657,000 after buying an additional 1,199,100 shares during the last quarter. M&G Plc bought a new position in shares of Lowe’s Companies during the first quarter valued at approximately $217,995,000. Finally, Applied Finance Capital Management LLC grew its stake in shares of Lowe’s Companies by 387.7% during the third quarter. Applied Finance Capital Management LLC now owns 811,374 shares of the home improvement retailer’s stock valued at $219,761,000 after buying an additional 645,017 shares during the last quarter. 74.06% of the stock is owned by institutional investors.

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.