Lowe’s Companies (NYSE:LOW) Reaches New 52-Week High After Analyst Upgrade

Lowe’s Companies, Inc. (NYSE:LOW) shares hit a new 52-week high during mid-day trading on Wednesday after Morgan Stanley raised their price target on the stock from $270.00 to $296.00. Morgan Stanley currently has an overweight rating on the stock. Lowe’s Companies traded as high as $276.42 and last traded at $276.1040, with a volume of 170795 shares traded. The stock had previously closed at $274.25.

A number of other brokerages have also weighed in on LOW. DA Davidson reduced their price objective on shares of Lowe’s Companies from $266.00 to $250.00 and set a “neutral” rating on the stock in a report on Thursday, November 20th. TD Cowen dropped their target price on Lowe’s Companies from $275.00 to $250.00 and set a “hold” rating on the stock in a report on Friday, November 21st. Weiss Ratings restated a “hold (c+)” rating on shares of Lowe’s Companies in a research note on Monday, December 29th. Evercore ISI reaffirmed a “positive” rating on shares of Lowe’s Companies in a research report on Thursday, November 20th. Finally, Wolfe Research dropped their price objective on Lowe’s Companies from $308.00 to $285.00 and set an “outperform” rating on the stock in a report on Monday, November 24th. Nineteen research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $280.92.

Insider Activity at Lowe’s Companies

In other news, CEO Marvin R. Ellison sold 18,000 shares of the business’s stock in a transaction dated Friday, January 9th. The stock was sold at an average price of $261.17, for a total value of $4,701,060.00. Following the completion of the sale, the chief executive officer directly owned 231,043 shares of the company’s stock, valued at approximately $60,341,500.31. The trade was a 7.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.27% of the company’s stock.

Hedge Funds Weigh In On Lowe’s Companies

Institutional investors have recently added to or reduced their stakes in the stock. Howard Hughes Medical Institute acquired a new stake in shares of Lowe’s Companies during the second quarter valued at $27,000. Solstein Capital LLC grew its holdings in shares of Lowe’s Companies by 627.8% during the second quarter. Solstein Capital LLC now owns 131 shares of the home improvement retailer’s stock worth $29,000 after buying an additional 113 shares in the last quarter. Activest Wealth Management raised its position in shares of Lowe’s Companies by 78.5% in the third quarter. Activest Wealth Management now owns 116 shares of the home improvement retailer’s stock valued at $29,000 after buying an additional 51 shares during the last quarter. Vermillion & White Wealth Management Group LLC lifted its stake in shares of Lowe’s Companies by 128.8% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 135 shares of the home improvement retailer’s stock valued at $30,000 after buying an additional 76 shares during the period. Finally, Traub Capital Management LLC purchased a new position in shares of Lowe’s Companies during the second quarter valued at approximately $30,000. Institutional investors and hedge funds own 74.06% of the company’s stock.

Lowe’s Companies Price Performance

The stock has a market cap of $155.31 billion, a price-to-earnings ratio of 22.96, a price-to-earnings-growth ratio of 4.56 and a beta of 0.96. The stock’s 50-day moving average is $244.14 and its 200-day moving average is $244.01.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings results on Wednesday, November 26th. The home improvement retailer reported $3.06 earnings per share for the quarter, topping analysts’ consensus estimates of $2.97 by $0.09. The company had revenue of $20.81 billion for the quarter, compared to analyst estimates of $20.88 billion. Lowe’s Companies had a negative return on equity of 55.86% and a net margin of 8.05%.The business’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.89 EPS. Analysts predict that Lowe’s Companies, Inc. will post 11.9 EPS for the current fiscal year.

Lowe’s Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 4th. Shareholders of record on Wednesday, January 21st will be issued a $1.20 dividend. The ex-dividend date is Wednesday, January 21st. This represents a $4.80 annualized dividend and a yield of 1.7%. Lowe’s Companies’s payout ratio is 39.80%.

Lowe’s Companies Company Profile

Lowe’s Companies, Inc is a leading home improvement retailer that operates large-format stores and digital channels serving both do-it-yourself homeowners and professional contractors. The company offers a broad assortment of products including building materials, lumber, appliances, tools and hardware, plumbing and electrical supplies, paint, flooring, kitchen and bath fixtures, outdoor and garden products, and home decor. Lowe’s also provides a range of services such as installation, home improvement financing, tool and equipment rental, and contractor-focused sales programs.

Operations are centered on a nationwide brick-and-mortar store network supported by distribution centers and an e-commerce platform that enables online ordering, delivery and in-store pickup.