Lowe’s Cos. (LOW) Upgraded to Buy at Vetr Inc.
Vetr upgraded shares of Lowe’s Cos. (NYSE:LOW) from a hold rating to a buy rating in a report released on Wednesday. They currently have $72.18 price target on the home improvement retailer’s stock.
LOW has been the subject of a number of other research reports. JPMorgan Chase & Co. reaffirmed a buy rating and set 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 lifted their target price 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 target price on shares of Lowe’s Cos. and gave the stock a buy rating in a report on Friday, August 19th. Twelve analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Lowe’s Cos. has an average rating of Buy and a consensus target price of $82.36.
Shares of Lowe’s Cos. (NYSE:LOW) traded up 0.157% on Wednesday, hitting $67.125. The company’s stock had a trading volume of 2,867,687 shares. The stock’s 50 day moving average price is $69.49 and its 200 day moving average price is $75.82. The stock has a market capitalization of $58.71 billion, a P/E ratio of 21.759 and a beta of 1.25. Lowe’s Cos. has a 52 week low of $62.62 and a 52 week high of $83.65.
Lowe’s Cos. (NYSE:LOW) last issued its quarterly earnings results on Wednesday, November 16th. The home improvement retailer reported $0.88 earnings per share for the quarter, missing analysts’ consensus estimates of $0.96 by $0.08. The company earned $15.70 billion during the quarter, compared to analyst estimates of $15.86 billion. Lowe’s Cos. had a net margin of 4.58% and a return on equity of 43.38%. The business’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.80 EPS. On average, analysts forecast that Lowe’s Cos. will post $4.00 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 8th. Shareholders of record on Wednesday, January 25th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 2.09%. The ex-dividend date is Monday, January 23rd. Lowe’s Cos.’s dividend payout ratio (DPR) is currently 45.16%.
A number of institutional investors have recently made changes to their positions in LOW. The Manufacturers Life Insurance Company bought a new position in shares of Lowe’s Cos. during the third quarter valued at about $435,695,000. Bank of Montreal Can bought a new position in shares of Lowe’s Cos. during the second quarter valued at about $284,442,000. Emerald Acquisition Ltd. bought a new position in shares of Lowe’s Cos. during the second quarter valued at about $162,367,000. Old Mutual Global Investors UK Ltd. raised its position in shares of Lowe’s Cos. by 888.8% in the third quarter. Old Mutual Global Investors UK Ltd. now owns 1,654,218 shares of the home improvement retailer’s stock valued at $119,451,000 after buying an additional 1,486,916 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its position in shares of 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 in the last quarter. Hedge funds and other institutional investors own 75.07% 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.
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