Morgan Stanley Cuts Lowe’s Companies (NYSE:LOW) Price Target to $255.00

Lowe’s Companies (NYSE:LOW) had its price objective reduced by Morgan Stanley from $300.00 to $255.00 in a research note issued to investors on Monday,Benzinga reports. Morgan Stanley currently has an overweight rating on the home improvement retailer’s stock.

LOW has been the topic of a number of other research reports. Truist Financial lowered their target price on Lowe’s Companies from $295.00 to $258.00 and set a “buy” rating on the stock in a research note on Tuesday, April 8th. DA Davidson restated a “neutral” rating and issued a $270.00 price objective on shares of Lowe’s Companies in a report on Wednesday, April 16th. Royal Bank of Canada reduced their target price on shares of Lowe’s Companies from $292.00 to $285.00 and set a “sector perform” rating for the company in a research note on Thursday, February 27th. Bank of America cut their price target on shares of Lowe’s Companies from $305.00 to $290.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Finally, BNP Paribas upgraded shares of Lowe’s Companies to a “strong sell” rating in a report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, Lowe’s Companies currently has a consensus rating of “Moderate Buy” and a consensus price target of $279.57.

Lowe’s Companies Stock Performance

NYSE LOW opened at $223.67 on Monday. The firm’s 50 day moving average price is $226.03 and its two-hundred day moving average price is $247.89. Lowe’s Companies has a twelve month low of $206.39 and a twelve month high of $287.01. The stock has a market cap of $125.19 billion, a price-to-earnings ratio of 18.65, a PEG ratio of 1.96 and a beta of 1.00.

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

Lowe’s Companies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 7th. Investors of record on Wednesday, April 23rd were given a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date of this dividend was Wednesday, April 23rd. Lowe’s Companies’s dividend payout ratio (DPR) is presently 37.67%.

Hedge Funds Weigh In On Lowe’s Companies

Several large investors have recently added to or reduced their stakes in the company. IFS Advisors LLC bought a new position in Lowe’s Companies in the fourth quarter worth $25,000. Wood Tarver Financial Group LLC bought a new position in shares of Lowe’s Companies during the 4th quarter worth about $25,000. Winch Advisory Services LLC boosted its position in shares of Lowe’s Companies by 56.4% during the 4th quarter. Winch Advisory Services LLC now owns 122 shares of the home improvement retailer’s stock valued at $30,000 after acquiring an additional 44 shares in the last quarter. Marshall Investment Management LLC acquired a new position in Lowe’s Companies in the fourth quarter worth about $31,000. Finally, Fairway Wealth LLC bought a new stake in shares of Lowe’s Companies in the 1st quarter valued at approximately $32,000. 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.