Lowe’s Companies (NYSE:LOW) Price Target Increased to $265.00 by Analysts at UBS Group

Posted by Defense World Staff on Aug 24th, 2023

Lowe’s Companies (NYSE:LOW – Free Report) had its price objective raised by UBS Group from $250.00 to $265.00 in a research note issued to investors on Wednesday morning, Benzinga reports. They currently have a buy rating on the home improvement retailer’s stock.

A number of other equities research analysts have also issued reports on the company. DA Davidson increased their target price on Lowe’s Companies from $228.00 to $237.00 in a research note on Wednesday, May 24th. Telsey Advisory Group reissued a market perform rating and set a $230.00 target price (up from $225.00) on shares of Lowe’s Companies in a research report on Tuesday. Truist Financial upped their target price on shares of Lowe’s Companies from $229.00 to $249.00 and gave the company a buy rating in a research note on Friday, July 14th. 888 reiterated a maintains rating on shares of Lowe’s Companies in a report on Wednesday, May 17th. Finally, Bank of America upped their price objective on shares of Lowe’s Companies from $278.00 to $289.00 and gave the company a buy rating in a research report on Wednesday. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, Lowe’s Companies currently has an average rating of Hold and an average target price of $234.89.

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Lowe’s Companies Stock Performance

NYSE LOW opened at $227.19 on Wednesday. The firm has a market capitalization of $133.13 billion, a price-to-earnings ratio of 22.12, a PEG ratio of 1.43 and a beta of 1.09. Lowe’s Companies has a one year low of $176.50 and a one year high of $237.21. The company’s 50 day moving average price is $225.04 and its 200 day moving average price is $211.27.

Lowe’s Companies (NYSE:LOW – Get Free Report) last posted its earnings results on Tuesday, August 22nd. The home improvement retailer reported $4.56 earnings per share for the quarter, beating the consensus estimate of $4.49 by $0.07. Lowe’s Companies had a net margin of 6.65% and a negative return on equity of 68.42%. The business had revenue of $24.96 billion for the quarter, compared to analyst estimates of $24.97 billion. During the same quarter in the previous year, the business posted $4.67 EPS. The business’s quarterly revenue was down 9.2% on a year-over-year basis. Sell-side analysts forecast that Lowe’s Companies will post 13.37 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, November 8th. Investors of record on Wednesday, October 25th will be paid a dividend of $1.10 per share. The ex-dividend date is Tuesday, October 24th. This represents a $4.40 annualized dividend and a yield of 1.94%. Lowe’s Companies’s dividend payout ratio (DPR) is 42.84%.

Insider Buying and Selling at Lowe’s Companies

In other news, EVP Donald Frieson sold 13,114 shares of the stock in a transaction that occurred on Friday, May 26th. The stock was sold at an average price of $203.45, for a total transaction of $2,668,043.30. Following the sale, the executive vice president now directly owns 18,020 shares in the company, valued at approximately $3,666,169. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.24% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Lowe’s Companies

Institutional investors have recently modified their holdings of the company. Valley National Advisers Inc. increased its stake in shares of Lowe’s Companies by 6.6% in the first quarter. Valley National Advisers Inc. now owns 9,769 shares of the home improvement retailer’s stock valued at $2,062,000 after purchasing an additional 606 shares during the period. Rainsberger Wealth Advisors Inc. increased its position in Lowe’s Companies by 9.2% in the 1st quarter. Rainsberger Wealth Advisors Inc. now owns 8,993 shares of the home improvement retailer’s stock valued at $1,798,000 after acquiring an additional 760 shares during the period. Transform Wealth LLC raised its stake in Lowe’s Companies by 0.3% during the 1st quarter. Transform Wealth LLC now owns 16,932 shares of the home improvement retailer’s stock valued at $3,386,000 after acquiring an additional 51 shares in the last quarter. CoreCap Advisors LLC boosted its position in Lowe’s Companies by 5.0% during the 4th quarter. CoreCap Advisors LLC now owns 8,152 shares of the home improvement retailer’s stock worth $1,624,000 after acquiring an additional 389 shares during the period. Finally, Investors Research Corp grew its stake in shares of Lowe’s Companies by 34.4% in the fourth quarter. Investors Research Corp now owns 332 shares of the home improvement retailer’s stock worth $66,000 after purchasing an additional 85 shares in the last quarter. Institutional investors own 73.47% of the company’s stock.

About Lowe’s Companies

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Lowe's Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It also provides home improvement products, such as appliances, seasonal and outdoor living, lawn and garden, lumber, kitchens and bath, tools, paint, millwork, hardware, flooring, rough plumbing, building materials, décor, and electrical.