Vetr Inc. Lowers Lowe’s Cos. (LOW) to Buy
Lowe’s Cos. (NYSE:LOW) was downgraded by Vetr from a “strong-buy” rating to a “buy” rating in a research report issued on Tuesday. They currently have a $76.30 price target on the home improvement retailer’s stock. Vetr‘s target price would indicate a potential upside of 8.63% from the stock’s previous close.
Other equities research analysts have also issued research reports about the company. Zacks Investment Research upgraded Lowe’s Cos. from a “hold” rating to a “buy” rating and set a $78.00 price target on the stock in a research report on Tuesday. Argus restated a “buy” rating and set a $90.00 target price on shares of Lowe’s Cos. in a research report on Thursday, August 18th. Jefferies Group restated a “hold” rating and set a $81.00 target price on shares of Lowe’s Cos. in a research report on Thursday, August 18th. Nomura set a $80.00 target price on Lowe’s Cos. and gave the company a “hold” rating in a research report on Thursday, August 18th. Finally, Cantor Fitzgerald restated a “hold” rating and set a $70.00 target price on shares of Lowe’s Cos. in a research report on Thursday, August 4th. Seven equities research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. Lowe’s Cos. has an average rating of “Buy” and a consensus price target of $85.00.
Lowe’s Cos. (NYSE:LOW) traded up 0.37% on Tuesday, reaching $70.24. The company’s stock had a trading volume of 5,955,140 shares. The company has a market cap of $61.44 billion, a P/E ratio of 22.77 and a beta of 1.14. The firm’s 50-day moving average price is $72.40 and its 200 day moving average price is $77.03. Lowe’s Cos. has a 52-week low of $62.62 and a 52-week high of $83.65.
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Lowe’s Cos. (NYSE:LOW) last released its quarterly earnings results on Wednesday, August 17th. The home improvement retailer reported $1.37 EPS for the quarter, missing analysts’ consensus estimates 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 company earned $18.26 billion during the quarter, compared to the consensus estimate of $18.42 billion. During the same quarter last year, the firm posted $1.20 EPS. The company’s quarterly revenue was up 5.3% on a year-over-year basis. Equities analysts anticipate that Lowe’s Cos. will post $4.02 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 2nd. Shareholders of record on Wednesday, October 19th will be issued a dividend of $0.35 per share. The ex-dividend date is Monday, October 17th. This represents a $1.40 annualized dividend and a yield of 1.99%. Lowe’s Cos.’s dividend payout ratio (DPR) is currently 45.16%.
Institutional investors have recently bought and sold shares of the stock. Wellington Management Group LLP increased its position in Lowe’s Cos. by 6.9% in the first quarter. Wellington Management Group LLP now owns 28,620,388 shares of the home improvement retailer’s stock valued at $2,167,994,000 after buying an additional 1,841,494 shares during the period. Ameriprise Financial Inc. increased its position in Lowe’s Cos. by 10.8% in the second quarter. Ameriprise Financial Inc. now owns 13,161,669 shares of the home improvement retailer’s stock valued at $1,042,084,000 after buying an additional 1,280,426 shares during the period. Geode Capital Management LLC increased its position in Lowe’s Cos. by 5.2% in the first quarter. Geode Capital Management LLC now owns 7,850,217 shares of the home improvement retailer’s stock valued at $593,514,000 after buying an additional 385,207 shares during the period. Bank of Montreal Can acquired a new position in Lowe’s Cos. during the second quarter valued at $284,442,000. Finally, Eaton Vance Management increased its position in Lowe’s Cos. by 10.9% in the second quarter. Eaton Vance Management now owns 3,265,522 shares of the home improvement retailer’s stock valued at $258,531,000 after buying an additional 321,288 shares during the period. Hedge funds and other institutional investors own 75.45% of the company’s stock.
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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