Lowe's Companies (NYSE:LOW) Price Target Cut to $240.00 by Analysts at DA Davidson

Lowe's Companies (NYSE:LOW - Free Report) had its price objective cut by DA Davidson from $270.00 to $240.00 in a report released on Wednesday morning, Benzinga reports. They currently have a neutral rating on the home improvement retailer's stock.

Several other analysts also recently commented on the stock. Wedbush reiterated a neutral rating and issued a $250.00 price target on shares of Lowe's Companies in a research report on Wednesday. Mizuho assumed coverage on shares of Lowe's Companies in a research report on Tuesday, March 19th. They issued a buy rating and a $280.00 price target for the company. Oppenheimer reiterated a market perform rating and issued a $230.00 price target on shares of Lowe's Companies in a research report on Monday, March 4th. Stifel Nicolaus upped their price target on shares of Lowe's Companies from $225.00 to $250.00 and gave the company a hold rating in a research report on Monday, May 13th. Finally, Robert W. Baird upgraded shares of Lowe's Companies from an average rating to an outperform rating and set a $250.00 price target for the company in a research report on Wednesday, February 14th. Fifteen investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of Hold and a consensus price target of $251.33.

Lowe's Companies Price Performance

Shares of NYSE:LOW traded down $3.75 during trading on Wednesday, hitting $221.11. 2,769,473 shares of the company were exchanged, compared to its average volume of 2,445,528. The stock has a market capitalization of $126.52 billion, a P/E ratio of 16.80, a PEG ratio of 1.69 and a beta of 1.15. Lowe's Companies has a 12-month low of $181.85 and a 12-month high of $262.49. The firm's 50 day moving average price is $237.57 and its 200-day moving average price is $224.71.

Lowe's Companies (NYSE:LOW - Get Free Report) last issued its quarterly earnings data on Tuesday, May 21st. The home improvement retailer reported $3.06 earnings per share for the quarter, topping the consensus estimate of $2.94 by $0.12. The business had revenue of $21.36 billion during the quarter, compared to the consensus estimate of $21.14 billion. Lowe's Companies had a net margin of 8.94% and a negative return on equity of 51.42%. The company's revenue was down 4.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.67 EPS. As a group, equities research analysts anticipate that Lowe's Companies will post 12.21 EPS for the current year.

Lowe's Companies Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 8th. Investors of record on Wednesday, April 24th were paid a $1.10 dividend. The ex-dividend date of this dividend was Tuesday, April 23rd. This represents a $4.40 dividend on an annualized basis and a yield of 1.99%. Lowe's Companies's payout ratio is 33.43%.

Institutional Investors Weigh In On Lowe's Companies

Large investors have recently added to or reduced their stakes in the business. Paragon Private Wealth Management LLC grew its stake in Lowe's Companies by 13.5% in the 4th quarter. Paragon Private Wealth Management LLC now owns 4,880 shares of the home improvement retailer's stock valued at $1,086,000 after acquiring an additional 581 shares during the last quarter. ING Groep NV lifted its holdings in Lowe's Companies by 18,786.5% in the 4th quarter. ING Groep NV now owns 106,709 shares of the home improvement retailer's stock valued at $23,748,000 after purchasing an additional 106,144 shares in the last quarter. Clifford Swan Investment Counsel LLC lifted its holdings in Lowe's Companies by 0.3% in the 4th quarter. Clifford Swan Investment Counsel LLC now owns 215,442 shares of the home improvement retailer's stock valued at $47,947,000 after purchasing an additional 541 shares in the last quarter. Cary Street Partners Investment Advisory LLC lifted its holdings in Lowe's Companies by 1.2% in the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 45,072 shares of the home improvement retailer's stock valued at $10,031,000 after purchasing an additional 540 shares in the last quarter. Finally, Harbour Trust & Investment Management Co purchased a new position in Lowe's Companies in the 4th quarter valued at about $5,890,000. 74.06% of the stock is owned by institutional investors and hedge funds.

About Lowe's Companies

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.