The Lowe’s Cos. (LOW) Cut to “Neutral” at Piper Jaffray Cos.

The Lowe’s Cos. (LOW) Cut to “Neutral” at Piper Jaffray Cos.

Lowe’s Cos. (NYSE:LOW) was downgraded by analysts at Piper Jaffray Cos. from an “overweight” rating to a “neutral” rating in a research report issued to clients and investors on Monday.

Other research analysts also recently issued reports about the stock. Vetr raised shares of Lowe’s Cos. from a “hold” rating to a “buy” rating and set a $87.38 target price on the stock in a research report on Tuesday, August 2nd. Argus reiterated a “buy” rating and set a $90.00 price target on shares of Lowe’s Cos. in a research note on Thursday, August 18th. Jefferies Group reiterated a “hold” rating and set a $81.00 price target on shares of Lowe’s Cos. in a research note on Thursday, August 18th. Nomura set a $80.00 price target on shares of Lowe’s Cos. and gave the stock a “hold” rating in a research note on Thursday, August 18th. Finally, Cantor Fitzgerald reiterated a “hold” rating and set a $70.00 price target on shares of Lowe’s Cos. in a research note on Thursday, August 4th. Eleven analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $83.92.

Shares of Lowe’s Cos. (NYSE:LOW) opened at 67.03 on Monday. The stock’s 50 day moving average is $70.91 and its 200-day moving average is $76.63. The stock has a market cap of $58.63 billion, a PE ratio of 21.73 and a beta of 1.14. Lowe’s Cos. has a 1-year low of $62.62 and a 1-year high of $83.65.

Lowe’s Cos. (NYSE:LOW) last posted its earnings results on Wednesday, August 17th. The home improvement retailer reported $1.37 EPS for the quarter, missing the Zacks’ consensus estimate of $1.41 by $0.04. The company earned $18.26 billion during the quarter, compared to analysts’ expectations of $18.42 billion. Lowe’s Cos. had a net margin of 4.58% and a return on equity of 43.38%. The company’s quarterly revenue was up 5.3% on a year-over-year basis. During the same period last year, the business earned $1.20 earnings per share. On average, analysts predict that Lowe’s Cos. will post $4.01 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 2nd. Stockholders of record on Wednesday, October 19th will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Monday, October 17th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.09%. Lowe’s Cos.’s dividend payout ratio (DPR) is presently 45.16%.

Large investors have recently added to or reduced their stakes in the company. Omega Advisors Inc. bought a new stake in Lowe’s Cos. during the first quarter valued at about $7,166,000. Clark Capital Management Group Inc. boosted its stake in Lowe’s Cos. by 6.1% in the first quarter. Clark Capital Management Group Inc. now owns 10,932 shares of the home improvement retailer’s stock valued at $828,000 after buying an additional 631 shares in the last quarter. Princeton Portfolio Strategies Group LLC bought a new stake in Lowe’s Cos. during the first quarter valued at about $332,000. Allen Investment Management LLC boosted its stake in Lowe’s Cos. by 3.2% in the first quarter. Allen Investment Management LLC now owns 276,477 shares of the home improvement retailer’s stock valued at $20,943,000 after buying an additional 8,618 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. boosted its stake in Lowe’s Cos. by 49.2% in the first quarter. Adage Capital Partners GP L.L.C. now owns 2,066,743 shares of the home improvement retailer’s stock valued at $156,556,000 after buying an additional 681,400 shares in the last quarter. 75.50% of the stock is currently owned by institutional investors and hedge funds.

Lowe’s Cos. Company Profile

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