Lowe’s Companies (NYSE:LOW) Upgraded to “Outperform” at Wedbush

Wedbush upgraded shares of Lowe’s Companies (NYSE:LOW) from a neutral rating to an outperform rating in a research report released on Monday, BenzingaRatingsTable reports. They currently have $135.00 price target on the home improvement retailer’s stock, up from their previous price target of $115.00. Wedbush also issued estimates for Lowe’s Companies’ Q3 2020 earnings at $1.36 EPS, Q4 2020 earnings at $0.95 EPS, FY2020 earnings at $5.68 EPS, Q1 2021 earnings at $1.52 EPS, Q2 2021 earnings at $2.52 EPS, Q3 2021 earnings at $1.64 EPS, Q4 2021 earnings at $1.13 EPS, FY2021 earnings at $6.80 EPS, FY2022 earnings at $7.97 EPS and FY2023 earnings at $9.24 EPS.

A number of other equities analysts also recently commented on LOW. Credit Suisse Group reissued a neutral rating and issued a $114.00 price objective (up previously from $99.00) on shares of Lowe’s Companies in a research note on Thursday, August 22nd. Bank of America set a $135.00 price objective on shares of Lowe’s Companies and gave the stock a buy rating in a research note on Monday, May 27th. Jefferies Financial Group set a $125.00 price objective on shares of Lowe’s Companies and gave the stock a buy rating in a research note on Monday, August 26th. Citigroup upped their price target on Lowe’s Companies from $122.00 to $137.00 and gave the stock a buy rating in a research report on Friday, September 13th. Finally, UBS Group upped their price target on Lowe’s Companies from $115.00 to $125.00 and gave the stock a buy rating in a research report on Thursday, August 22nd. Eight research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. The stock currently has a consensus rating of Buy and an average price target of $118.00.

Shares of NYSE:LOW opened at $111.87 on Monday. The company has a market capitalization of $86.93 billion, a price-to-earnings ratio of 21.76, a price-to-earnings-growth ratio of 1.46 and a beta of 1.30. Lowe’s Companies has a 52 week low of $84.75 and a 52 week high of $118.23. The company has a quick ratio of 0.19, a current ratio of 1.06 and a debt-to-equity ratio of 7.80. The firm has a 50 day moving average of $105.61 and a 200 day moving average of $104.99.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings data on Wednesday, August 21st. The home improvement retailer reported $2.15 EPS for the quarter, topping analysts’ consensus estimates of $2.00 by $0.15. The company had revenue of $20.99 billion during the quarter, compared to the consensus estimate of $20.96 billion. Lowe’s Companies had a net margin of 3.52% and a return on equity of 111.09%. Lowe’s Companies’s revenue for the quarter was up .5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.07 earnings per share. On average, sell-side analysts expect that Lowe’s Companies will post 5.66 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date of this dividend is Tuesday, October 22nd. Lowe’s Companies’s payout ratio is presently 42.80%.

In other news, CAO Matthew V. Hollifield sold 12,136 shares of the business’s stock in a transaction on Tuesday, September 17th. The shares were 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 $3,147,429.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Jennifer L. Weber sold 12,589 shares of the business’s stock in a transaction 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 sale, the executive vice president now directly owns 17,440 shares in the company, valued at $1,964,092.80. The disclosure for this sale can be found here. Corporate insiders own 0.07% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in LOW. Advisors Preferred LLC purchased a new stake in shares of Lowe’s Companies during the first quarter valued at $26,000. Icon Wealth Partners LLC purchased a new stake in shares of Lowe’s Companies during the first quarter valued at $26,000. Next Capital Management LLC purchased a new stake in shares of Lowe’s Companies during the second quarter valued at $27,000. Weaver Consulting Group purchased a new stake in Lowe’s Companies in the first quarter valued at $28,000. Finally, Knuff & Co LLC purchased a new stake in Lowe’s Companies in the second quarter valued at $29,000. 76.23% of the stock is currently owned by hedge funds and other 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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Analyst Recommendations for Lowe`s Companies (NYSE:LOW)

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