J P Morgan Chase & Co restated their neutral rating on shares of Lowe’s Companies, Inc. (NYSE:LOW) in a research note published on Thursday morning. The brokerage currently has a $83.00 price objective on the home improvement retailer’s stock, down from their prior price objective of $89.00.

Several other equities analysts have also recently issued reports on the stock. Jefferies Group LLC restated a hold rating and issued a $75.00 price target (down from $89.00) on shares of Lowe’s Companies in a research report on Thursday. Piper Jaffray Companies restated a hold rating and issued a $80.00 price target (down from $83.00) on shares of Lowe’s Companies in a research report on Thursday. Morgan Stanley set a $81.00 price target on shares of Lowe’s Companies and gave the company an overweight rating in a research report on Thursday. Deutsche Bank AG decreased their price target on shares of Lowe’s Companies from $92.00 to $85.00 and set a buy rating for the company in a research report on Thursday. Finally, Credit Suisse Group set a $83.00 price target on shares of Lowe’s Companies and gave the company a buy rating in a research report on Thursday. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. The company has a consensus rating of Hold and an average target price of $84.57.

Lowe’s Companies (NYSE:LOW) opened at 73.35 on Thursday. Lowe’s Companies has a one year low of $64.87 and a one year high of $86.25. The company has a market capitalization of $61.39 billion, a price-to-earnings ratio of 20.83 and a beta of 1.08. The company has a 50-day moving average price of $75.99 and a 200-day moving average price of $79.50.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings results on Wednesday, August 23rd. The home improvement retailer reported $1.57 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.62 by $0.05. Lowe’s Companies had a net margin of 4.51% and a return on equity of 62.02%. The business had revenue of $19.50 billion during the quarter, compared to analyst estimates of $19.58 billion. During the same quarter last year, the company posted $1.37 earnings per share. The company’s revenue was up 6.8% compared to the same quarter last year. Equities research analysts anticipate that Lowe’s Companies will post $4.50 EPS for the current year.

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The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 8th. Investors of record on Wednesday, October 25th will be paid a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 2.24%. The ex-dividend date is Tuesday, October 24th. Lowe’s Companies’s dividend payout ratio is presently 46.20%.

In related news, insider Richard D. Maltsbarger sold 11,672 shares of the stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $80.20, for a total transaction of $936,094.40. Following the transaction, the insider now directly owns 37,716 shares of the company’s stock, valued at $3,024,823.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.11% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Cohen Capital Management Inc. acquired a new position in Lowe’s Companies during the first quarter worth $164,000. Somerset Trust Co raised its position in Lowe’s Companies by 2.0% in the first quarter. Somerset Trust Co now owns 27,630 shares of the home improvement retailer’s stock worth $2,272,000 after buying an additional 529 shares during the period. Capital Investment Advisors LLC raised its position in Lowe’s Companies by 6.6% in the first quarter. Capital Investment Advisors LLC now owns 6,714 shares of the home improvement retailer’s stock worth $552,000 after buying an additional 414 shares during the period. SFE Investment Counsel raised its position in Lowe’s Companies by 1.6% in the first quarter. SFE Investment Counsel now owns 80,633 shares of the home improvement retailer’s stock worth $6,629,000 after buying an additional 1,250 shares during the period. Finally, DnB Asset Management AS raised its position in Lowe’s Companies by 8.9% in the first quarter. DnB Asset Management AS now owns 94,990 shares of the home improvement retailer’s stock worth $7,809,000 after buying an additional 7,800 shares during the period. 72.91% of the stock is currently owned by institutional investors and hedge funds.

About Lowe’s Companies

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.

Analyst Recommendations for Lowe`s Companies (NYSE:LOW)

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