Investors Buy Shares of Lowe’s Cos. (LOW) on Weakness
Traders purchased shares of Lowe’s Cos. (NYSE:LOW) on weakness during trading on Tuesday. $51.36 million flowed into the stock on the tick-up and $34.37 million flowed out of the stock on the tick-down, for a money net flow of $16.99 million into the stock. Of all companies tracked, Lowe’s Cos. had the 27th highest net in-flow for the day. Lowe’s Cos. traded down ($0.62) for the day and closed at $76.56
Several research analysts have issued reports on LOW shares. Robert W. Baird restated a “buy” rating on shares of Lowe’s Cos. in a research report on Monday, May 16th. Citigroup Inc. upgraded Lowe’s Cos. from a “neutral” rating to a “buy” rating and boosted their target price for the company from $83.00 to $90.00 in a research report on Thursday, May 19th. Zacks Investment Research upgraded Lowe’s Cos. from a “hold” rating to a “buy” rating and set a $84.00 target price for the company in a research report on Monday, May 16th. Argus started coverage on Lowe’s Cos. in a research report on Wednesday, May 18th. They set a “buy” rating for the company. Finally, BTIG Research started coverage on Lowe’s Cos. in a research report on Wednesday, June 1st. They set a “buy” rating and a $90.00 target price for the company. Seven equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $85.65.
The stock has a 50 day moving average of $80.31 and a 200-day moving average of $76.92. The stock has a market cap of $67.45 billion and a price-to-earnings ratio of 24.82.
Lowe’s Cos. (NYSE:LOW) last released its quarterly earnings data on Wednesday, August 17th. The home improvement retailer reported $1.37 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.41 by $0.04. The firm had revenue of $18.26 billion for the quarter, compared to analyst estimates of $18.42 billion. During the same period in the prior year, the business posted $1.20 earnings per share. The company’s revenue was up 5.3% on a year-over-year basis. On average, equities research analysts predict that Lowe’s Cos. will post $4.02 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 2nd. Stockholders of record on Wednesday, October 19th will be given a dividend of $0.35 per share. The ex-dividend date is Monday, October 17th. This represents a $1.40 annualized dividend and a dividend yield of 1.83%.
Other large investors have recently added to or reduced their stakes in the company. Matarin Capital Management LLC purchased a new stake in Lowe’s Cos. during the fourth quarter valued at about $4,634,000. Stephens Inc. AR boosted its stake in Lowe’s Cos. by 70.8% in the fourth quarter. Stephens Inc. AR now owns 65,170 shares of the home improvement retailer’s stock valued at $4,956,000 after buying an additional 27,020 shares during the period. Finally, American International Group Inc. boosted its stake in Lowe’s Cos. by 2.8% in the fourth quarter. American International Group Inc. now owns 382,463 shares of the home improvement retailer’s stock valued at $29,083,000 after buying an additional 10,274 shares during the period.
Lowe’s Companies, Inc (Lowe’s) is a home improvement retailer. The Company operates approximately 1,860 home improvement and hardware stores, representing approximately 200 million square feet of retail selling space. The Company operates approximately 1,800 stores located across over 50 states in the United States, including approximately 80 Orchard Supply Hardware (Orchard) stores in California and Oregon, as well as approximately 40 stores in Canada and over 10 stores in Mexico.
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