Investors Sell Lowe’s Companies, Inc. (LOW) on Strength (LOW)
Investors sold shares of Lowe’s Companies, Inc. (NYSE:LOW) on strength during trading on Monday. $45.75 million flowed into the stock on the tick-up and $99.81 million flowed out of the stock on the tick-down, for a money net flow of $54.06 million out of the stock. Of all equities tracked, Lowe’s Companies had the 0th highest net out-flow for the day. Lowe’s Companies traded up $0.76 for the day and closed at $74.65
Several equities research analysts recently commented on LOW shares. BMO Capital Markets reiterated a “buy” rating and set a $89.00 target price on shares of Lowe’s Companies in a research report on Thursday, July 20th. J P Morgan Chase & Co reiterated a “neutral” rating and set a $83.00 target price (down from $89.00) on shares of Lowe’s Companies in a research report on Thursday, August 24th. Zacks Investment Research downgraded shares of Lowe’s Companies from a “hold” rating to a “sell” rating in a research report on Monday, August 28th. Jefferies Group LLC lifted their target price on shares of Lowe’s Companies from $80.00 to $94.00 and gave the stock a “hold” rating in a research report on Friday, May 12th. Finally, Longbow Research reiterated a “buy” rating and set a $95.00 target price on shares of Lowe’s Companies in a research report on Monday, August 14th. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $85.00.
The company’s 50 day moving average price is $75.58 and its 200 day moving average price is $79.59. The firm has a market capitalization of $63.34 billion, a price-to-earnings ratio of 21.49 and a beta of 1.07. Lowe’s Companies also saw unusually large options trading on Monday. Investors bought 6,466 put options on the company. This is an increase of approximately 538% compared to the average daily volume of 1,014 put options.
Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings results on Wednesday, August 23rd. The home improvement retailer reported $1.57 EPS for the quarter, missing analysts’ consensus estimates of $1.62 by $0.05. Lowe’s Companies had a return on equity of 62.02% and a net margin of 4.51%. The business had revenue of $19.50 billion during the quarter, compared to analysts’ expectations of $19.58 billion. During the same period in the previous year, the business earned $1.37 EPS. The business’s revenue was up 6.8% compared to the same quarter last year. Equities research analysts forecast that Lowe’s Companies, Inc. will post $4.49 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 8th. Shareholders of record on Wednesday, October 25th will be given a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 2.17%. The ex-dividend date is Tuesday, October 24th. Lowe’s Companies’s dividend payout ratio is currently 46.20%.
A number of institutional investors have recently made changes to their positions in the business. Intl Fcstone Inc. purchased a new position in Lowe’s Companies during the second quarter valued at $243,000. Lord Abbett & CO. LLC lifted its position in Lowe’s Companies by 81.0% during the second quarter. Lord Abbett & CO. LLC now owns 2,131,387 shares of the home improvement retailer’s stock valued at $165,247,000 after buying an additional 953,787 shares during the period. Phocas Financial Corp. purchased a new position in Lowe’s Companies during the second quarter valued at $268,000. RNC Capital Management LLC lifted its position in Lowe’s Companies by 0.9% during the second quarter. RNC Capital Management LLC now owns 49,916 shares of the home improvement retailer’s stock valued at $3,870,000 after buying an additional 439 shares during the period. Finally, Atlantic Trust LLC purchased a new position in Lowe’s Companies during the second quarter valued at $105,000. 74.32% of the stock is owned by institutional investors and hedge funds.
About Lowe’s Companies
Lowe’s Companies, Inc (Lowe’s) is a FORTUNE home improvement company. The Company operates approximately 2,370 home improvement and hardware stores. The Company offers a range of products for maintenance, repair, remodeling and decorating. The Company offers home improvement products in categories, including Lumber and Building Materials; Tools and Hardware; Appliances; Fashion Fixtures; Rough Plumbing and Electrical; Lawn and Garden; Seasonal and Outdoor Living; Paint; Flooring; Millwork, and Kitchens.
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