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 report published on Monday morning, BenzingaRatingsTable reports. They currently have $135.00 target price on the home improvement retailer’s stock, up from their prior target price 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 research analysts also recently commented on the stock. Jefferies Financial Group set a $125.00 price objective on shares of Lowe’s Companies and gave the company a buy rating in a research report on Monday, August 26th. Morgan Stanley lifted their price objective on shares of Lowe’s Companies from $123.00 to $130.00 and gave the company an overweight rating in a research report on Thursday, August 22nd. Goldman Sachs Group initiated coverage on shares of Lowe’s Companies in a research report on Thursday, July 11th. They issued a buy rating and a $119.00 price objective for the company. Robert W. Baird set a $127.00 price objective on shares of Lowe’s Companies and gave the company a buy rating in a research report on Wednesday, August 21st. Finally, Citigroup lifted their price objective on shares of Lowe’s Companies from $122.00 to $137.00 and gave the company a buy rating in a research report on Friday, September 13th. Eight investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $118.00.

Shares of LOW opened at $112.60 on Monday. The firm has a 50-day moving average of $105.45 and a 200-day moving average of $104.95. Lowe’s Companies has a one year low of $84.75 and a one year high of $118.23. The company has a market cap of $87.01 billion, a PE ratio of 21.91, a price-to-earnings-growth ratio of 1.47 and a beta of 1.30. The company has a debt-to-equity ratio of 7.80, a current ratio of 1.06 and a quick ratio of 0.19.

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

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 6th. Investors of record on Wednesday, October 23rd will be issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 1.95%. The ex-dividend date is Tuesday, October 22nd. Lowe’s Companies’s payout ratio is 42.80%.

In related news, EVP Jennifer L. Weber sold 12,589 shares of Lowe’s Companies stock in a transaction dated 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 Securities & Exchange Commission, which is accessible through this link. Insiders own 0.07% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Advisors Preferred LLC bought a new stake in shares of Lowe’s Companies during the 1st quarter worth about $26,000. Icon Wealth Partners LLC bought a new stake in Lowe’s Companies in the 1st quarter valued at about $26,000. Next Capital Management LLC bought a new stake in Lowe’s Companies in the 2nd quarter valued at about $27,000. Pearl River Capital LLC bought a new stake in Lowe’s Companies in the 2nd quarter valued at about $29,000. Finally, Knuff & Co LLC bought a new stake in Lowe’s Companies in the 2nd quarter valued at about $29,000. 76.23% of the stock is owned by institutional investors and hedge funds.

Lowe’s Companies Company Profile

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.

Read More: Why are analyst ratings important in trading stocks?

Analyst Recommendations for Lowe`s Companies (NYSE:LOW)

Receive News & Ratings for Lowe's Companies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lowe's Companies and related companies with MarketBeat.com's FREE daily email newsletter.