Lowe’s Cos. (LOW) Downgraded by Vetr Inc. to Buy
Vetr downgraded shares of Lowe’s Cos. (NYSE:LOW) from a strong-buy rating to a buy rating in a report published on Tuesday. They currently have $76.30 price target on the home improvement retailer’s stock.
LOW has been the topic of several other research reports. JPMorgan Chase & Co. reaffirmed a buy rating and issued a $89.00 target price on shares of Lowe’s Cos. in a report on Tuesday, August 16th. Cleveland Research lowered shares of Lowe’s Cos. from a buy rating to a neutral rating in a report on Thursday, October 6th. BMO Capital Markets increased their price objective on shares of Lowe’s Cos. from $76.43 to $86.00 and gave the stock an outperform rating in a report on Monday, August 22nd. Zacks Investment Research lowered shares of Lowe’s Cos. from a buy rating to a hold rating in a report on Friday, August 19th. Finally, Morgan Stanley set a $87.00 price objective on shares of Lowe’s Cos. and gave the stock a buy rating in a report on Friday, August 19th. Seven investment analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus target price of $85.00.
Shares of Lowe’s Cos. (NYSE:LOW) opened at 70.24 on Tuesday. Lowe’s Cos. has a 52-week low of $62.62 and a 52-week high of $83.65. The company has a market capitalization of $61.44 billion, a P/E ratio of 22.77 and a beta of 1.13. The firm’s 50 day moving average is $72.40 and its 200-day moving average is $77.03.
Lowe’s Cos. (NYSE:LOW) last posted its earnings results on Wednesday, August 17th. The home improvement retailer reported $1.37 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.41 by $0.04. Lowe’s Cos. had a return on equity of 43.38% and a net margin of 4.58%. The firm earned $18.26 billion during the quarter, compared to the consensus estimate of $18.42 billion. During the same period in the previous year, the company posted $1.20 EPS. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. Equities research analysts anticipate that Lowe’s Cos. will post $4.02 earnings per share for the current fiscal year.
The business also recently declared 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. This represents a $1.40 annualized dividend 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 presently 45.16%.
A number of hedge funds have recently added to or reduced their stakes in LOW. CWM LLC raised its position in Lowe’s Cos. by 0.3% in the second quarter. CWM LLC now owns 1,264 shares of the home improvement retailer’s stock worth $100,000 after buying an additional 4 shares during the period. North Star Investment Management Corp. raised its position in Lowe’s Cos. by 20.0% in the third quarter. North Star Investment Management Corp. now owns 1,380 shares of the home improvement retailer’s stock worth $100,000 after buying an additional 230 shares during the period. Livingston Group Asset Management CO operating as Southport Capital Management acquired a new position in Lowe’s Cos. during the second quarter worth $103,000. Hanson McClain Inc. raised its position in Lowe’s Cos. by 17.5% in the second quarter. Hanson McClain Inc. now owns 1,328 shares of the home improvement retailer’s stock worth $105,000 after buying an additional 198 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new position in Lowe’s Cos. during the second quarter worth $110,000. 75.45% of the stock is owned by institutional investors and hedge funds.
Lowe’s Cos. Company Profile
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.
Receive News & Stock Ratings for Lowe's Cos. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lowe's Cos. and related stocks with our FREE daily email newsletter.