Lowe’s Cos. (LOW) Cut to “Buy” at Vetr Inc.
Lowe’s Cos. (NYSE:LOW) was downgraded by equities research analysts at Vetr from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Tuesday. They currently have a $76.30 target price on the home improvement retailer’s stock. Vetr‘s target price suggests a potential upside of 8.63% from the stock’s current price.
A number of other research firms have also recently commented on LOW. JPMorgan Chase & Co. reiterated a “buy” rating and set a $89.00 target price on shares of Lowe’s Cos. in a research note on Tuesday, August 16th. Cleveland Research cut Lowe’s Cos. from a “buy” rating to a “neutral” rating in a research note on Thursday, October 6th. BMO Capital Markets lifted their target price on Lowe’s Cos. from $76.43 to $86.00 and gave the stock an “outperform” rating in a research note on Monday, August 22nd. Zacks Investment Research cut Lowe’s Cos. from a “buy” rating to a “hold” rating in a research note on Friday, August 19th. Finally, Morgan Stanley set a $87.00 target price on Lowe’s Cos. and gave the stock a “buy” rating in a research note on Friday, August 19th. Seven research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $85.00.
Lowe’s Cos. (NYSE:LOW) traded up 0.37% during trading on Tuesday, hitting $70.24. 5,955,140 shares of the company traded hands. The stock has a 50 day moving average price of $72.40 and a 200 day moving average price of $77.03. The company has a market capitalization of $61.44 billion, a P/E ratio of 22.77 and a beta of 1.14. Lowe’s Cos. has a 12-month low of $62.62 and a 12-month high of $83.65.
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Lowe’s Cos. (NYSE:LOW) last posted its quarterly earnings results on Wednesday, August 17th. The home improvement retailer reported $1.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.41 by $0.04. Lowe’s Cos. had a net margin of 4.58% and a return on equity of 43.38%. The business earned $18.26 billion during the quarter, compared to analyst estimates of $18.42 billion. During the same period in the previous year, the business posted $1.20 EPS. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. On average, equities analysts anticipate that Lowe’s Cos. will post $4.02 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 2nd. Investors of record on Wednesday, October 19th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date of this dividend is Monday, October 17th. Lowe’s Cos.’s dividend payout ratio is 45.16%.
A number of institutional investors have recently bought and sold shares of LOW. Scotia Capital Inc. increased its stake in Lowe’s Cos. by 6.5% in the first quarter. Scotia Capital Inc. now owns 16,535 shares of the home improvement retailer’s stock worth $1,253,000 after buying an additional 1,007 shares during the last quarter. Lazard Asset Management LLC increased its stake in Lowe’s Cos. by 253.7% in the first quarter. Lazard Asset Management LLC now owns 315,628 shares of the home improvement retailer’s stock worth $23,908,000 after buying an additional 226,380 shares during the last quarter. Pegasus Partners Ltd. bought a new stake in Lowe’s Cos. during the first quarter worth about $925,000. Donaldson Capital Management LLC increased its stake in Lowe’s Cos. by 14.3% in the first quarter. Donaldson Capital Management LLC now owns 261,357 shares of the home improvement retailer’s stock worth $19,798,000 after buying an additional 32,762 shares during the last quarter. Finally, Stockman Asset Management increased its stake in Lowe’s Cos. by 1.3% in the first quarter. Stockman Asset Management now owns 28,377 shares of the home improvement retailer’s stock worth $2,150,000 after buying an additional 359 shares during the last quarter. 75.45% of the stock is owned by hedge funds and other institutional investors.
About Lowe’s Cos.
Lowe’s Companies, Inc (Lowe’s) is a home improvement retailer. The Company operates approximately 1,860 home improvement and hardware stores, representing approximately 200 million square feet of retail selling space. The Company operates approximately 1,800 stores located across over 50 states in the United States, including approximately 80 Orchard Supply Hardware (Orchard) stores in California and Oregon, as well as approximately 40 stores in Canada and over 10 stores in Mexico.
To view Vetr’s full report, visit Vetr’s official website.
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