Lowe’s (LOW) Trading Up 10.4%

Lowe’s (NYSE:LOW) shares were up 10.4% during trading on Wednesday . The company traded as high as $95.14 and last traded at $94.69. Approximately 26,243,344 shares changed hands during mid-day trading, an increase of 276% from the average daily volume of 6,984,557 shares. The stock had previously closed at $85.75.

A number of research analysts recently commented on LOW shares. BMO Capital Markets restated a “hold” rating and issued a $95.00 price target (up previously from $82.00) on shares of Lowe’s in a research report on Thursday, March 1st. Loop Capital started coverage on Lowe’s in a research report on Thursday, March 1st. They issued a “hold” rating and a $88.00 price target on the stock. ValuEngine upgraded Lowe’s from a “hold” rating to a “buy” rating in a research report on Thursday. Telsey Advisory Group upgraded Lowe’s from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $83.00 to $124.00 in a research report on Thursday, January 25th. Finally, Credit Suisse Group reiterated an “outperform” rating and issued a $111.00 target price on shares of Lowe’s in a research report on Monday, March 5th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twenty-seven have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $100.42.

The company has a market cap of $78.59 billion, a P/E ratio of 21.98, a PEG ratio of 1.00 and a beta of 1.33. The company has a debt-to-equity ratio of 2.60, a current ratio of 1.02 and a quick ratio of 0.11.

Lowe’s (NYSE:LOW) last announced its quarterly earnings results on Wednesday, May 23rd. The home improvement retailer reported $1.19 EPS for the quarter, missing the Zacks’ consensus estimate of $1.22 by ($0.03). Lowe’s had a net margin of 5.55% and a return on equity of 66.36%. The firm had revenue of $17.36 billion for the quarter, compared to analyst estimates of $17.44 billion. During the same period in the previous year, the business posted $1.03 earnings per share. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. equities research analysts anticipate that Lowe’s will post 5.45 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 9th. Investors of record on Wednesday, April 25th were paid a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date was Tuesday, April 24th. Lowe’s’s dividend payout ratio is currently 37.36%.

Lowe’s declared that its board has approved a share buyback program on Friday, January 26th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the home improvement retailer to purchase shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Several institutional investors have recently bought and sold shares of LOW. Buckingham Capital Management Inc. lifted its stake in shares of Lowe’s by 30.4% in the third quarter. Buckingham Capital Management Inc. now owns 41,046 shares of the home improvement retailer’s stock worth $3,281,000 after acquiring an additional 9,566 shares during the period. Schwab Charles Investment Management Inc. lifted its stake in Lowe’s by 0.9% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 3,329,516 shares of the home improvement retailer’s stock valued at $309,227,000 after buying an additional 30,684 shares during the period. Acadian Asset Management LLC lifted its stake in Lowe’s by 261.2% in the fourth quarter. Acadian Asset Management LLC now owns 38,954 shares of the home improvement retailer’s stock valued at $3,619,000 after buying an additional 28,169 shares during the period. North American Management Corp acquired a new position in Lowe’s in the fourth quarter valued at approximately $214,000. Finally, Cornerstone Financial Partners LLC acquired a new position in Lowe’s in the fourth quarter valued at approximately $824,000. 72.83% of the stock is currently owned by institutional investors.

About Lowe’s

Lowe's Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States, Canada, and Mexico. It offers a line of products for maintenance, repair, remodeling, and decorating. The company provides home improvement products in various categories, such as lumber and building materials, tools and hardware, appliances, fashion fixtures, rough plumbing and electrical, seasonal and outdoor living, lawn and garden, paint, millwork, flooring, and kitchens, as well as outdoor power equipment.

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