Several brokerages have recently updated their views on Lowe’s Companies (LOW). Piper Sandler raised their target price from $262 to $307 with an “overweight” rating. Oppenheimer upgraded the stock from “market perform” to “outperform,” increasing their target from $230 to $305. StockNews.com boosted their rating from “hold” to “buy,” and Loop Capital did the same, changing their target from $250 to $300. On the other hand, Gordon Haskett lowered their target from $245 to $240, maintaining a “hold” rating. Currently, 11 analysts rate the stock as a “hold,” while 14 suggest buying, leading to a consensus rating of “Moderate Buy” with a target price of $268.42.
View Our Latest Research Report on LOW
Lowe’s Companies Stock Activity
LOW stock opened at $280.97 on Monday. The 12-month range for Lowe’s shares is $181.85 to $281.40, with a market cap of $160.11 billion. Its P/E ratio is 22.57 and the P/E/G ratio is 2.28. The 50-day and 200-day moving averages are $253.68 and $237.77, respectively.
Lowe’s reported earnings on August 20, posting $4.10 EPS, beating expectations of $3.96. The company had revenue of $23.59 billion, down 5.5% from the previous year. Analysts forecast EPS of $11.91 for this year.
Dividend Increase Announced
Lowe’s will pay a $1.15 dividend on November 6 to shareholders recorded by October 23, marking an increase from the previous $0.15. This results in an annual dividend of $4.60, with a yield of 1.64% and a payout ratio of 36.95%.
Insider Transactions
CAO Dan Clayton Griggs, Jr. sold 6,769 shares on September 12 for $1,684,262.58, while EVP Margrethe R. Vagell sold 5,730 shares on October 2 for $1,555,408.50. Insiders now hold 0.26% of Lowe’s stock.
Institutional Investments
Recent institutional trading showed Vanguard Group increased its position by 5.2%, owning about $13.68 billion in Lowe’s. Strategic Financial Concepts raised their stake by over 20,000%. Hedge funds own 74.06% of the company.
About Lowe’s Companies
(Get Free Report) Lowe’s operates as a home improvement retailer in the U.S., selling products for construction, maintenance, and home improvement.
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