Nomura began coverage on shares of Lowe’s Companies (NYSE:LOW) in a report released on Friday, The Fly reports. The brokerage issued a buy rating and a $132.00 price target on the home improvement retailer’s stock.
Other research analysts also recently issued research reports about the company. Jefferies Financial Group set a $125.00 price objective on Lowe’s Companies and gave the company a buy rating in a research note on Monday, August 26th. ValuEngine downgraded Lowe’s Companies from a buy rating to a hold rating in a research note on Friday, September 27th. Citigroup upped their price objective on Lowe’s Companies from $122.00 to $137.00 and gave the company a buy rating in a research note on Friday, September 13th. Credit Suisse Group raised Lowe’s Companies from a neutral rating to an outperform rating and upped their price objective for the company from $114.00 to $129.00 in a research note on Wednesday. Finally, KeyCorp reaffirmed an overweight rating and issued a $125.00 price objective (up previously from $120.00) on shares of Lowe’s Companies in a research note on Thursday, August 22nd. Six equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average price target of $123.20.
Shares of Lowe’s Companies stock traded up $1.40 on Friday, hitting $114.00. The stock had a trading volume of 2,748,129 shares, compared to its average volume of 4,548,905. The stock has a 50 day moving average of $110.71 and a 200 day moving average of $105.70. Lowe’s Companies has a twelve month low of $84.75 and a twelve month high of $118.23. The company has a debt-to-equity ratio of 7.80, a quick ratio of 0.19 and a current ratio of 1.06. The firm has a market capitalization of $86.60 billion, a P/E ratio of 22.18, a PEG ratio of 1.47 and a beta of 1.29.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 22nd will be given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 1.93%. Lowe’s Companies’s dividend payout ratio (DPR) is 42.80%.
In other news, EVP Jennifer L. Weber sold 12,589 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $112.62, for a total transaction of $1,417,773.18. Following the completion of the sale, the executive vice president now owns 17,440 shares of the company’s stock, valued at approximately $1,964,092.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Matthew V. Hollifield sold 12,136 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $112.34, for a total transaction of $1,363,358.24. Following the sale, the chief accounting officer now directly owns 28,017 shares of the company’s stock, valued at approximately $3,147,429.78. The disclosure for this sale can be found here. Company insiders own 0.07% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. Atwater Malick LLC bought a new position in shares of Lowe’s Companies in the 3rd quarter worth $26,000. Next Capital Management LLC bought a new position in shares of Lowe’s Companies in the 2nd quarter worth $27,000. Knuff & Co LLC bought a new position in shares of Lowe’s Companies in the 2nd quarter worth $29,000. Pearl River Capital LLC bought a new position in shares of Lowe’s Companies in the 2nd quarter worth $29,000. Finally, Ossiam bought a new position in Lowe’s Companies during the 2nd quarter valued at $31,000. 76.35% of the stock is owned by institutional investors.
About Lowe’s Companies
Lowe's Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States, Canada, and Mexico. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It provides home improvement products in various categories, such as lumber and building materials, appliances, seasonal and outdoor living, tools and hardware, fashion fixtures, rough plumbing and electrical, paint, millwork, lawn and garden, flooring, and kitchens.
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