Telsey Advisory Group Reiterates Outperform Rating for Lowe’s Companies (NYSE:LOW)

Telsey Advisory Group restated their outperform rating on shares of Lowe’s Companies (NYSE:LOW) in a research report report published on Tuesday,Benzinga reports. The firm currently has a $305.00 price target on the home improvement retailer’s stock.

A number of other research firms have also recently weighed in on LOW. Loop Capital upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating and raised their price target for the company from $250.00 to $300.00 in a report on Wednesday, October 9th. Melius Research began coverage on shares of Lowe’s Companies in a research report on Monday, September 23rd. They issued a “buy” rating and a $290.00 price objective for the company. Gordon Haskett decreased 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. Piper Sandler increased their price objective on shares of Lowe’s Companies from $262.00 to $307.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. Finally, Bank of America increased their price objective on shares of Lowe’s Companies from $275.00 to $305.00 and gave the company a “buy” rating in a research report on Friday, October 11th. Ten equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, Lowe’s Companies presently has a consensus rating of “Moderate Buy” and an average price target of $273.84.

Lowe’s Companies Stock Performance

NYSE:LOW opened at $259.23 on Tuesday. Lowe’s Companies has a fifty-two week low of $196.23 and a fifty-two week high of $287.01. The stock has a market capitalization of $147.06 billion, a P/E ratio of 21.50, a P/E/G ratio of 2.21 and a beta of 1.10. The company’s 50-day simple moving average is $267.97 and its 200-day simple moving average is $244.23.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $23.93 billion. During the same period last year, the business earned $4.56 EPS. The company’s revenue was down 5.5% compared to the same quarter last year. On average, research analysts forecast that Lowe’s Companies will post 11.93 EPS 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 paid a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 1.77%. 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. Lowe’s Companies’s payout ratio is 38.14%.

Insiders Place Their Bets

In other news, EVP Margrethe R. Vagell sold 5,730 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president now owns 13,214 shares of the company’s stock, valued at approximately $3,586,940.30. The trade was a 30.25 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the business’s 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 transaction, the chief accounting officer now directly owns 9,383 shares in the company, valued at approximately $2,334,678.06. The trade was a 41.91 % decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Invst LLC purchased a new stake in Lowe’s Companies in the 3rd quarter valued at about $255,000. Discipline Wealth Solutions LLC purchased a new stake in Lowe’s Companies in the 3rd quarter valued at about $630,000. Soltis Investment Advisors LLC raised its holdings in Lowe’s Companies by 8.2% in the 3rd quarter. Soltis Investment Advisors LLC now owns 1,907 shares of the home improvement retailer’s stock valued at $517,000 after buying an additional 144 shares during the period. TD Private Client Wealth LLC raised its holdings in Lowe’s Companies by 17.1% in the 3rd quarter. TD Private Client Wealth LLC now owns 5,125 shares of the home improvement retailer’s stock valued at $1,388,000 after buying an additional 749 shares during the period. Finally, Fortem Financial Group LLC purchased a new stake in Lowe’s Companies in the 3rd quarter valued at about $232,000. Institutional investors and hedge funds own 74.06% of the company’s stock.

Lowe’s Companies Company Profile

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.