Lowe’s Companies (NYSE:LOW) Price Target Increased to $305.00 by Analysts at Bank of America

Lowe’s Companies (NYSE:LOW) had its price objective increased by Bank of America from $275.00 to $305.00 in a research report released on Friday morning, Benzinga reports. The brokerage currently has a buy rating on the home improvement retailer’s stock.

Several other research firms have also issued reports on LOW. Gordon Haskett dropped their price objective on shares of Lowe’s Companies from $245.00 to $240.00 and set a hold rating for the company in a research report on Wednesday, August 21st. Loop Capital raised shares of Lowe’s Companies from a hold rating to a buy rating and increased their price objective for the stock from $250.00 to $300.00 in a research report on Wednesday, October 9th. UBS Group increased their price objective on shares of Lowe’s Companies from $270.00 to $290.00 and gave the stock a buy rating in a research report on Wednesday, August 21st. Wells Fargo & Company dropped their price objective on shares of Lowe’s Companies from $290.00 to $280.00 and set an overweight rating for the company in a research report on Wednesday, August 21st. Finally, Morgan Stanley increased their price objective on shares of Lowe’s Companies from $250.00 to $255.00 and gave the stock an overweight rating in a research report on Wednesday, August 21st. Eleven research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $266.88.

Lowe’s Companies Stock Up 0.9 %

NYSE:LOW opened at $275.76 on Friday. The company has a market cap of $157.14 billion, a P/E ratio of 22.15, a P/E/G ratio of 2.28 and a beta of 1.10. Lowe’s Companies has a fifty-two week low of $181.85 and a fifty-two week high of $278.10. The firm’s 50 day moving average is $252.80 and its two-hundred day moving average is $237.58.

Lowe’s Companies (NYSE:LOW) last posted its quarterly 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. The company had revenue of $23.59 billion for the quarter, compared to the consensus estimate of $23.93 billion. Lowe’s Companies had a net margin of 8.25% and a negative return on equity of 47.07%. Lowe’s Companies’s revenue was down 5.5% on a year-over-year basis. During the same quarter last year, the firm posted $4.56 earnings per share. Research analysts forecast that Lowe’s Companies will post 11.91 earnings per share for the current fiscal year.

Lowe’s Companies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd will be given a $1.15 dividend. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.15. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date of this dividend is Wednesday, October 23rd. Lowe’s Companies’s dividend payout ratio (DPR) is presently 36.95%.

Insider Transactions at Lowe’s Companies

In other news, EVP Margrethe R. Vagell sold 5,730 shares of the firm’s 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 transaction, the executive vice president now directly owns 13,214 shares in the company, valued at approximately $3,586,940.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, EVP Margrethe R. Vagell sold 5,730 shares of the firm’s 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 transaction, the executive vice president now directly owns 13,214 shares in the company, valued at approximately $3,586,940.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chief accounting officer now owns 9,383 shares in the company, valued at approximately $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 Trading of Lowe’s Companies

Several hedge funds have recently bought and sold shares of the company. Iams Wealth Management LLC lifted its position in Lowe’s Companies by 39.4% in the 3rd quarter. Iams Wealth Management LLC now owns 1,529 shares of the home improvement retailer’s stock valued at $414,000 after purchasing an additional 432 shares during the last quarter. Creative Planning lifted its position in Lowe’s Companies by 9.0% in the 3rd quarter. Creative Planning now owns 222,818 shares of the home improvement retailer’s stock valued at $59,002,000 after purchasing an additional 18,383 shares during the last quarter. Wesbanco Bank Inc. lifted its position in Lowe’s Companies by 17.9% in the 3rd quarter. Wesbanco Bank Inc. now owns 57,232 shares of the home improvement retailer’s stock valued at $15,501,000 after purchasing an additional 8,683 shares during the last quarter. Grove Bank & Trust lifted its position in Lowe’s Companies by 5.1% in the 3rd quarter. Grove Bank & Trust now owns 2,684 shares of the home improvement retailer’s stock valued at $727,000 after purchasing an additional 130 shares during the last quarter. Finally, Novare Capital Management LLC lifted its position in Lowe’s Companies by 0.5% in the 3rd quarter. Novare Capital Management LLC now owns 46,361 shares of the home improvement retailer’s stock valued at $12,557,000 after purchasing an additional 215 shares during the last quarter. 74.06% of the stock is currently 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.