Lowe’s Companies (NYSE:LOW) Price Target Lowered to $229.00 at Truist Financial

Lowe’s Companies (NYSE:LOW – Get Rating) had its target price reduced by Truist Financial from $235.00 to $229.00 in a report issued on Wednesday morning, The Fly reports.

A number of other equities research analysts have also recently weighed in on the stock. Citigroup reduced their price target on shares of Lowe’s Companies from $215.00 to $210.00 in a research report on Friday, March 3rd. DA Davidson upped their target price on shares of Lowe’s Companies from $228.00 to $237.00 in a research report on Wednesday. Loop Capital upped their target price on shares of Lowe’s Companies from $200.00 to $205.00 and gave the stock a hold rating in a research report on Tuesday, March 21st. Barclays lowered their price target on shares of Lowe’s Companies from $215.00 to $212.00 in a research report on Wednesday. Finally, Telsey Advisory Group lowered their price target on shares of Lowe’s Companies from $235.00 to $225.00 and set an outperform rating on the stock in a research report on Wednesday, May 17th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of Hold and a consensus price target of $221.12.

Lowe’s Companies Stock Performance

LOW stock opened at $203.63 on Wednesday. The firm has a market cap of $121.44 billion, a PE ratio of 20.34, a PEG ratio of 1.19 and a beta of 1.09. The firm’s 50 day moving average price is $201.89 and its 200-day moving average price is $204.21. Lowe’s Companies has a one year low of $170.12 and a one year high of $223.31.

Lowe’s Companies (NYSE:LOW – Get Rating) last posted its quarterly earnings results on Tuesday, May 23rd. The home improvement retailer reported $3.67 EPS for the quarter, topping the consensus estimate of $3.48 by $0.19. The business had revenue of $22.35 billion during the quarter, compared to the consensus estimate of $21.68 billion. Lowe’s Companies had a net margin of 6.63% and a negative return on equity of 82.30%. The company’s quarterly revenue was down 5.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.51 earnings per share. Equities research analysts predict that Lowe’s Companies will post 13.66 EPS for the current fiscal year.

Lowe’s Companies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 10th. Investors of record on Wednesday, April 26th were issued a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date of this dividend was Tuesday, April 25th. Lowe’s Companies’s payout ratio is 41.96%.

Insider Activity at Lowe’s Companies

In related news, EVP Donald Frieson sold 9,411 shares of the firm’s stock in a transaction on Wednesday, March 15th. The shares were sold at an average price of $197.00, for a total transaction of $1,853,967.00. Following the completion of the sale, the executive vice president now directly owns 17,888 shares of the company’s stock, valued at approximately $3,523,936. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.24% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. PFS Investments Inc. grew its holdings in Lowe’s Companies by 6.8% during the 3rd quarter. PFS Investments Inc. now owns 11,740 shares of the home improvement retailer’s stock worth $2,205,000 after acquiring an additional 746 shares in the last quarter. CoreCap Advisors LLC boosted its holdings in shares of Lowe’s Companies by 5.0% in the 4th quarter. CoreCap Advisors LLC now owns 8,152 shares of the home improvement retailer’s stock valued at $1,624,000 after buying an additional 389 shares during the period. Jacobs Levy Equity Management Inc. boosted its holdings in shares of Lowe’s Companies by 6.5% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 42,759 shares of the home improvement retailer’s stock valued at $8,031,000 after buying an additional 2,592 shares during the period. Investors Research Corp boosted its holdings in shares of Lowe’s Companies by 34.4% in the 4th quarter. Investors Research Corp now owns 332 shares of the home improvement retailer’s stock valued at $66,000 after buying an additional 85 shares during the period. Finally, SlateStone Wealth LLC acquired a new position in shares of Lowe’s Companies in the 4th quarter valued at about $220,000. 72.62% of the stock is owned by institutional investors and hedge funds.

About Lowe’s Companies

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Lowe’s Cos., Inc engages in the retail sale of home improvement products. The firm offers products for maintenance, repair, remodeling, home decorating and property maintenance. It also provides home improvement products in the following categories: appliances, bathroom, building supply, electrical, flooring, hardware, paint, kitchen, plumbing, lighting & fans, outdoor living, windows and doors.