Lowe’s Companies (NYSE:LOW) Sets New 12-Month Low – Time to Sell?

Lowe’s Companies, Inc. (NYSE:LOW) hit a new 52-week low on Monday . The company traded as low as $211.70 and last traded at $213.41, with a volume of 335310 shares trading hands. The stock had previously closed at $223.29.

Analysts Set New Price Targets

A number of research analysts have commented on LOW shares. Piper Sandler reduced their price objective on shares of Lowe’s Companies from $296.00 to $269.00 and set an “overweight” rating on the stock in a research note on Monday, March 24th. StockNews.com downgraded Lowe’s Companies from a “buy” rating to a “hold” rating in a report on Thursday. Stifel Nicolaus raised their price objective on Lowe’s Companies from $265.00 to $270.00 and gave the stock a “hold” rating in a research note on Wednesday, December 11th. Bank of America lowered their target price on shares of Lowe’s Companies from $305.00 to $290.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Finally, Guggenheim reaffirmed a “buy” rating and issued a $300.00 price target on shares of Lowe’s Companies in a report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $280.35.

Lowe’s Companies Stock Performance

The stock’s fifty day simple moving average is $242.39 and its two-hundred day simple moving average is $256.46. The company has a market capitalization of $120.62 billion, a price-to-earnings ratio of 17.98, a P/E/G ratio of 1.96 and a beta of 1.07.

Lowe’s Companies (NYSE:LOW) last announced its earnings results on Wednesday, February 26th. The home improvement retailer reported $1.93 EPS for the quarter, beating the consensus estimate of $1.83 by $0.10. Lowe’s Companies had a negative return on equity of 47.55% and a net margin of 8.19%. The business had revenue of $18.55 billion during the quarter, compared to the consensus estimate of $18.29 billion. On average, equities analysts anticipate that Lowe’s Companies, Inc. will post 11.9 EPS for the current fiscal year.

Lowe’s Companies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 7th. Stockholders of record on Wednesday, April 23rd will be issued a $1.15 dividend. The ex-dividend date of this dividend is Wednesday, April 23rd. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.13%. Lowe’s Companies’s payout ratio is currently 37.67%.

Institutional Investors Weigh In On Lowe’s Companies

A number of institutional investors have recently bought and sold shares of the business. United Bank raised its holdings in shares of Lowe’s Companies by 1.4% during the third quarter. United Bank now owns 10,099 shares of the home improvement retailer’s stock worth $2,735,000 after acquiring an additional 137 shares in the last quarter. Jacobs Levy Equity Management Inc. bought a new position in Lowe’s Companies during the third quarter valued at approximately $205,000. Wellington Management Group LLP lifted its stake in Lowe’s Companies by 14.4% in the third quarter. Wellington Management Group LLP now owns 721,116 shares of the home improvement retailer’s stock valued at $195,314,000 after acquiring an additional 90,750 shares during the last quarter. Zacks Investment Management grew its position in Lowe’s Companies by 7.4% in the third quarter. Zacks Investment Management now owns 3,166 shares of the home improvement retailer’s stock worth $858,000 after acquiring an additional 217 shares in the last quarter. Finally, Bontempo Ohly Capital Mgmt LLC raised its holdings in shares of Lowe’s Companies by 0.4% during the 3rd quarter. Bontempo Ohly Capital Mgmt LLC now owns 18,758 shares of the home improvement retailer’s stock valued at $5,081,000 after purchasing an additional 72 shares in the last quarter. 74.06% of the stock is currently 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.