Lowe’s Companies (NYSE:LOW) Upgraded at Oppenheimer

Oppenheimer upgraded shares of Lowe’s Companies (NYSE:LOW) from a market perform rating to an outperform rating in a report released on Tuesday morning, Marketbeat.com reports. The brokerage currently has $305.00 price target on the home improvement retailer’s stock, up from their previous price target of $230.00.

A number of other equities research analysts have also weighed in on the stock. Melius Research started coverage on shares of Lowe’s Companies in a report on Monday, September 23rd. They issued a buy rating and a $290.00 target price on the stock. StockNews.com upgraded shares of Lowe’s Companies from a hold rating to a buy rating in a research note on Wednesday, September 18th. Royal Bank of Canada decreased their price objective on shares of Lowe’s Companies from $245.00 to $238.00 and set a sector perform rating for the company in a research note on Wednesday, August 21st. Evercore ISI increased their price objective on shares of Lowe’s Companies from $225.00 to $250.00 and gave the company an in-line rating in a research note on Wednesday, August 21st. Finally, Telsey Advisory Group reiterated a market perform rating and issued a $230.00 price objective on shares of Lowe’s Companies in a research note on Tuesday, August 20th. Eleven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of $258.13.

Lowe’s Companies Price Performance

LOW opened at $267.13 on Tuesday. Lowe’s Companies has a fifty-two week low of $181.85 and a fifty-two week high of $268.71. The firm has a market capitalization of $152.22 billion, a PE ratio of 21.46, a P/E/G ratio of 2.15 and a beta of 1.10. The company’s 50-day moving average is $246.22 and its 200 day moving average is $236.23.

Lowe’s Companies (NYSE:LOW) last posted its earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share for the quarter, topping analysts’ consensus estimates of $3.96 by $0.14. Lowe’s Companies had a net margin of 8.25% and a negative return on equity of 47.07%. The company had revenue of $23.59 billion for the quarter, compared to analyst estimates of $23.93 billion. During the same quarter in the prior year, the business posted $4.56 EPS. The firm’s revenue was down 5.5% compared to the same quarter last year. As a group, analysts expect that Lowe’s Companies will post 11.93 EPS for the current year.

Lowe’s Companies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 6th. Investors of record on Wednesday, October 23rd will be issued a $1.15 dividend. The ex-dividend date is Wednesday, October 23rd. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.15. This represents a $4.60 annualized dividend and a yield of 1.72%. Lowe’s Companies’s dividend payout ratio (DPR) is 36.95%.

Insider Buying and Selling

In related news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $248.82, for a total value of $1,684,262.58. Following the completion of the transaction, the chief accounting officer now directly owns 9,383 shares of the company’s stock, valued at approximately $2,334,678.06. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.26% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Voisard Asset Management Group Inc. bought a new position in Lowe’s Companies in the 4th quarter valued at $28,000. Keener Financial Planning LLC bought a new position in Lowe’s Companies in the 1st quarter valued at $35,000. Transcendent Capital Group LLC bought a new position in Lowe’s Companies in the 4th quarter valued at $31,000. Stephens Consulting LLC boosted its holdings in Lowe’s Companies by 93.3% in the 2nd quarter. Stephens Consulting LLC now owns 145 shares of the home improvement retailer’s stock valued at $32,000 after purchasing an additional 70 shares during the period. Finally, Kimelman & Baird LLC bought a new position in Lowe’s Companies in the 2nd quarter valued at $37,000. 74.06% of the stock is owned by institutional investors.

Lowe’s Companies Company Profile

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.