Lowe’s Companies (NYSE:LOW) Upgraded at StockNews.com

StockNews.com upgraded shares of Lowe’s Companies (NYSE:LOW) from a hold rating to a buy rating in a research report sent to investors on Tuesday.

LOW has been the topic of several other reports. Mizuho reduced their price target on Lowe’s Companies from $305.00 to $300.00 and set an “outperform” rating on the stock in a research report on Thursday, February 27th. Royal Bank of Canada reduced their target price on Lowe’s Companies from $292.00 to $285.00 and set a “sector perform” rating on the stock in a report on Thursday, February 27th. Bank of America lowered their price target on Lowe’s Companies from $305.00 to $290.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Piper Sandler reduced their price objective on shares of Lowe’s Companies from $296.00 to $269.00 and set an “overweight” rating on the stock in a research note on Monday, March 24th. Finally, Truist Financial lowered their target price on shares of Lowe’s Companies from $295.00 to $258.00 and set a “buy” rating for the company in a research note on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $278.74.

Lowe’s Companies Stock Up 2.1 %

Shares of LOW stock opened at $219.01 on Tuesday. The firm has a market cap of $122.58 billion, a price-to-earnings ratio of 18.27, a PEG ratio of 1.96 and a beta of 1.07. Lowe’s Companies has a 12 month low of $206.39 and a 12 month high of $287.01. The stock has a 50-day moving average price of $233.35 and a 200 day moving average price of $253.13.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings results on Wednesday, February 26th. The home improvement retailer reported $1.93 EPS for the quarter, topping the consensus estimate of $1.83 by $0.10. Lowe’s Companies had a net margin of 8.19% and a negative return on equity of 47.55%. The company had revenue of $18.55 billion during the quarter, compared to analysts’ expectations of $18.29 billion. Sell-side analysts predict that Lowe’s Companies will post 11.9 earnings per share for the current fiscal year.

Lowe’s Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 7th. Shareholders of record on Wednesday, April 23rd will be paid a $1.15 dividend. The ex-dividend date is Wednesday, April 23rd. This represents a $4.60 annualized dividend and a yield of 2.10%. Lowe’s Companies’s payout ratio is currently 37.67%.

Hedge Funds Weigh In On Lowe’s Companies

Several hedge funds have recently modified their holdings of the stock. Berkshire Bank raised its holdings in Lowe’s Companies by 2.8% during the first quarter. Berkshire Bank now owns 2,949 shares of the home improvement retailer’s stock worth $688,000 after acquiring an additional 80 shares in the last quarter. Lynch & Associates IN raised its stake in shares of Lowe’s Companies by 1.1% during the 1st quarter. Lynch & Associates IN now owns 25,257 shares of the home improvement retailer’s stock worth $5,891,000 after purchasing an additional 285 shares in the last quarter. Chicago Capital LLC boosted its holdings in shares of Lowe’s Companies by 0.3% in the 1st quarter. Chicago Capital LLC now owns 153,001 shares of the home improvement retailer’s stock valued at $35,685,000 after buying an additional 428 shares during the last quarter. Smith Shellnut Wilson LLC ADV grew its stake in shares of Lowe’s Companies by 0.6% in the first quarter. Smith Shellnut Wilson LLC ADV now owns 13,276 shares of the home improvement retailer’s stock valued at $3,096,000 after buying an additional 74 shares in the last quarter. Finally, Inscription Capital LLC acquired a new position in Lowe’s Companies during the first quarter worth $561,000. Institutional investors 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.