Robert W. Baird Analysts Give Lowe’s Cos. (LOW) a $88.00 Price Target
Robert W. Baird set a $88.00 price objective on Lowe’s Cos. (NYSE:LOW) in a research report report published on Monday morning. The brokerage currently has a a buy rating on the home improvement retailer’s stock.
Other analysts have also recently issued research reports about the company. Vetr upgraded Lowe’s Cos. from a hold rating to a buy rating and set a $87.38 target price on the stock in a research report on Tuesday, August 2nd. Morgan Stanley upgraded Lowe’s Cos. to an overweight rating and lifted their target price for the stock from $84.00 to $87.00 in a research report on Monday, June 6th. Jefferies Group reissued a hold rating and set a $81.00 price target on shares of Lowe’s Cos. in a report on Thursday, August 18th. Argus reissued a buy rating and set a $90.00 price target on shares of Lowe’s Cos. in a report on Thursday, August 18th. Finally, Nomura set a $80.00 price target on Lowe’s Cos. and gave the stock a hold rating in a report on Thursday, August 18th. Seven investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company’s stock. Lowe’s Cos. presently has a consensus rating of Buy and an average price target of $85.74.
Lowe’s Cos. (NYSE:LOW) opened at 72.05 on Monday. The firm’s 50 day moving average price is $76.71 and its 200-day moving average price is $77.35. The firm has a market cap of $63.02 billion, a PE ratio of 23.35 and a beta of 1.07. Lowe’s Cos. has a one year low of $62.62 and a one year high of $83.65.
Lowe’s Cos. (NYSE:LOW) last posted its earnings results on Wednesday, August 17th. The home improvement retailer reported $1.37 EPS for the quarter, missing the Zacks’ 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 had revenue of $18.26 billion for the quarter, compared to analyst estimates of $18.42 billion. During the same quarter last year, the firm posted $1.20 EPS. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. Equities analysts predict that Lowe’s Cos. will post $4.02 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 2nd. Shareholders of record on Wednesday, October 19th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Monday, October 17th. This represents a $1.40 annualized dividend and a dividend yield of 1.94%. Lowe’s Cos.’s payout ratio is currently 45.16%.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Peachtree Investment Advisors Inc. boosted its position in Lowe’s Cos. by 1.8% in the first quarter. Peachtree Investment Advisors Inc. now owns 31,412 shares of the home improvement retailer’s stock valued at $2,379,000 after buying an additional 570 shares during the period. Lau Associates LLC bought a new position in Lowe’s Cos. during the first quarter valued at about $1,034,000. CENTRAL TRUST Co bought a new position in Lowe’s Cos. during the first quarter valued at about $4,129,000. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its position in Lowe’s Cos. by 13.6% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 208,998 shares of the home improvement retailer’s stock valued at $15,832,000 after buying an additional 25,020 shares during the period. Finally, Capstone Asset Management Co. boosted its position in Lowe’s Cos. by 101.0% in the first quarter. Capstone Asset Management Co. now owns 208,125 shares of the home improvement retailer’s stock valued at $15,765,000 after buying an additional 104,600 shares during the period. Institutional investors and hedge funds own 75.48% 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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