Lowe’s Companies (NYSE:LOW) Hits New 12-Month High Following Analyst Upgrade

Lowe’s Companies, Inc. (NYSE:LOW)’s stock price hit a new 52-week high during mid-day trading on Wednesday after Gordon Haskett upgraded the stock from a hold rating to a buy rating. Gordon Haskett now has a $325.00 price target on the stock. Lowe’s Companies traded as high as $276.42 and last traded at $276.1040, with a volume of 170795 shares changing hands. The stock had previously closed at $274.25.

Other equities analysts have also recently issued reports about the company. Robert W. Baird decreased their target price on Lowe’s Companies from $295.00 to $290.00 and set an “outperform” rating on the stock in a report on Thursday, November 20th. Jefferies Financial Group lifted their price target on Lowe’s Companies from $280.00 to $285.00 and gave the stock a “buy” rating in a research note on Friday, December 19th. DA Davidson cut their price objective on Lowe’s Companies from $266.00 to $250.00 and set a “neutral” rating on the stock in a report on Thursday, November 20th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Lowe’s Companies in a report on Monday, December 29th. Finally, Royal Bank Of Canada cut their price target on shares of Lowe’s Companies from $260.00 to $252.00 and set a “sector perform” rating on the stock in a report on Thursday, November 20th. Nineteen analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $279.35.

Insider Buying and Selling

In other Lowe’s Companies news, CEO Marvin R. Ellison sold 18,000 shares of the business’s stock in a transaction on Friday, January 9th. The shares were sold at an average price of $261.17, for a total transaction of $4,701,060.00. Following the completion of the transaction, the chief executive officer owned 231,043 shares of the company’s stock, valued at $60,341,500.31. The trade was a 7.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.27% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Pallas Capital Advisors LLC increased its position in Lowe’s Companies by 5.0% during the fourth quarter. Pallas Capital Advisors LLC now owns 2,608 shares of the home improvement retailer’s stock worth $629,000 after acquiring an additional 125 shares during the period. Petros Family Wealth LLC increased its holdings in shares of Lowe’s Companies by 29.1% during the 4th quarter. Petros Family Wealth LLC now owns 4,759 shares of the home improvement retailer’s stock worth $1,148,000 after purchasing an additional 1,073 shares during the period. KMG Fiduciary Partners LLC raised its position in shares of Lowe’s Companies by 5.4% during the fourth quarter. KMG Fiduciary Partners LLC now owns 42,979 shares of the home improvement retailer’s stock valued at $10,365,000 after buying an additional 2,184 shares during the last quarter. Generate Investment Management Ltd acquired a new position in shares of Lowe’s Companies during the fourth quarter valued at about $3,616,000. Finally, Net Worth Advisory Group lifted its stake in shares of Lowe’s Companies by 22.6% in the fourth quarter. Net Worth Advisory Group now owns 8,771 shares of the home improvement retailer’s stock valued at $2,115,000 after buying an additional 1,616 shares during the period. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Lowe’s Companies Stock Up 0.4%

The firm has a market capitalization of $154.41 billion, a price-to-earnings ratio of 22.86, a P/E/G ratio of 4.49 and a beta of 0.96. The business has a 50-day moving average of $242.42 and a two-hundred day moving average of $243.56.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings data on Wednesday, November 26th. The home improvement retailer reported $3.06 EPS for the quarter, topping analysts’ consensus estimates of $2.97 by $0.09. The company had revenue of $20.81 billion during the quarter, compared to the consensus estimate of $20.88 billion. Lowe’s Companies had a negative return on equity of 55.86% and a net margin of 8.05%.The company’s quarterly revenue was up 3.2% on a year-over-year basis. During the same quarter last year, the company earned $2.89 EPS. Equities analysts predict that Lowe’s Companies, Inc. will post 11.9 EPS for the current fiscal year.

Lowe’s Companies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 4th. Stockholders of record on Wednesday, January 21st will be issued a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Wednesday, January 21st. Lowe’s Companies’s dividend payout ratio (DPR) is presently 39.80%.

About Lowe’s Companies

Lowe’s Companies, Inc is a leading home improvement retailer that operates large-format stores and digital channels serving both do-it-yourself homeowners and professional contractors. The company offers a broad assortment of products including building materials, lumber, appliances, tools and hardware, plumbing and electrical supplies, paint, flooring, kitchen and bath fixtures, outdoor and garden products, and home decor. Lowe’s also provides a range of services such as installation, home improvement financing, tool and equipment rental, and contractor-focused sales programs.

Operations are centered on a nationwide brick-and-mortar store network supported by distribution centers and an e-commerce platform that enables online ordering, delivery and in-store pickup.