Royal Bank of Canada Issues Positive Forecast for Lowe’s Companies (NYSE:LOW) Stock Price

Lowe’s Companies (NYSE:LOW) had its target price hoisted by Royal Bank of Canada from $290.00 to $291.00 in a report issued on Wednesday,Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the home improvement retailer’s stock.

LOW has been the subject of a number of other research reports. Oppenheimer upgraded Lowe’s Companies from a “market perform” rating to an “outperform” rating and increased their target price for the company from $230.00 to $305.00 in a research note on Tuesday, September 24th. Morgan Stanley increased 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 report on Wednesday, August 21st. Sanford C. Bernstein initiated coverage on shares of 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. Melius Research initiated coverage on shares of Lowe’s Companies in a report on Monday, September 23rd. They set a “buy” rating and a $290.00 price target for the company. Finally, Loop Capital raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating and lifted their price target for the stock from $250.00 to $300.00 in a research note on Wednesday, October 9th. Ten investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $277.92.

Lowe’s Companies Stock Down 0.2 %

LOW opened at $264.63 on Wednesday. The company has a 50 day moving average of $268.74 and a two-hundred day moving average of $244.73. Lowe’s Companies has a 52-week low of $196.23 and a 52-week high of $287.01. The company has a market cap of $150.12 billion, a P/E ratio of 22.07, a P/E/G ratio of 2.15 and a beta of 1.10.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.96 by $0.14. The firm had revenue of $23.59 billion during the quarter, compared to the consensus estimate of $23.93 billion. Lowe’s Companies had a negative return on equity of 47.55% and a net margin of 8.19%. The firm’s quarterly revenue was down 5.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.56 EPS. Research analysts anticipate that Lowe’s Companies will post 11.82 earnings per share for the current year.

Lowe’s Companies Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd were issued a $1.15 dividend. The ex-dividend date was Wednesday, October 23rd. This represents a $4.60 dividend on an annualized basis and a yield of 1.74%. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.15. Lowe’s Companies’s dividend payout ratio (DPR) is currently 38.37%.

Insider Buying and Selling at Lowe’s Companies

In related news, EVP Margrethe R. Vagell sold 5,730 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $271.45, for a total value of $1,555,408.50. Following the sale, the executive vice president now owns 13,214 shares of the company’s stock, valued at $3,586,940.30. This trade represents a 30.25 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of Lowe’s Companies stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $248.82, for a total transaction of $1,684,262.58. Following the completion of the sale, the chief accounting officer now owns 9,383 shares in the company, valued at approximately $2,334,678.06. This represents a 41.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Lowe’s Companies

Several large investors have recently made changes to their positions in LOW. Legacy Investment Solutions LLC bought a new position in Lowe’s Companies in the 3rd quarter worth approximately $27,000. Stephens Consulting LLC boosted 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. JNBA Financial Advisors boosted its position in Lowe’s Companies by 555.6% during the 3rd quarter. JNBA Financial Advisors now owns 118 shares of the home improvement retailer’s stock worth $32,000 after acquiring an additional 100 shares during the period. MFA Wealth Advisors LLC grew its stake in shares of Lowe’s Companies by 118.6% in the third quarter. MFA Wealth Advisors LLC now owns 129 shares of the home improvement retailer’s stock worth $35,000 after purchasing an additional 70 shares in the last quarter. Finally, Kimelman & Baird LLC acquired a new position in shares of Lowe’s Companies during the second quarter valued at $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.