Lowe’s Companies, Inc. (NYSE:LOW) Short Interest Update

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Lowe’s Companies, Inc. (NYSE:LOW) was the recipient of a large decline in short interest during the month of December. As of December 31st, there was short interest totalling 9,940,000 shares, a decline of 9.9% from the December 15th total of 11,030,000 shares. Based on an average trading volume of 3,500,000 shares, the days-to-cover ratio is presently 2.8 days. Currently, 1.3% of the company’s shares are short sold.

LOW stock traded down $0.98 during midday trading on Tuesday, hitting $120.07. The stock had a trading volume of 3,823,017 shares, compared to its average volume of 3,372,137. The company has a current ratio of 1.04, a quick ratio of 0.13 and a debt-to-equity ratio of 8.37. The firm has a market cap of $92.74 billion, a P/E ratio of 23.36, a price-to-earnings-growth ratio of 1.51 and a beta of 1.28. The business has a fifty day moving average price of $118.94 and a two-hundred day moving average price of $110.70. Lowe’s Companies has a 1-year low of $90.23 and a 1-year high of $122.88.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings results on Wednesday, November 20th. The home improvement retailer reported $1.41 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.35 by $0.06. The firm had revenue of $17.39 billion during the quarter, compared to the consensus estimate of $17.69 billion. Lowe’s Companies had a return on equity of 146.62% and a net margin of 4.11%. The business’s revenue was down .2% compared to the same quarter last year. During the same period last year, the business posted $1.04 EPS. On average, equities analysts anticipate that Lowe’s Companies will post 5.7 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 22nd will be issued a $0.55 dividend. The ex-dividend date is Tuesday, January 21st. This represents a $2.20 dividend on an annualized basis and a yield of 1.83%. Lowe’s Companies’s payout ratio is currently 42.80%.

Several equities analysts have issued reports on the stock. Telsey Advisory Group upped their price target on shares of Lowe’s Companies from $120.00 to $133.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Nomura lifted their price target on shares of Lowe’s Companies from $132.00 to $137.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Royal Bank of Canada lifted their price target on shares of Lowe’s Companies from $123.00 to $129.00 and gave the stock an “outperform” rating in a report on Monday, September 16th. Raymond James cut shares of Lowe’s Companies from an “outperform” rating to a “market perform” rating in a research note on Tuesday, October 8th. Finally, Robert W. Baird reaffirmed a “buy” rating and set a $135.00 target price on shares of Lowe’s Companies in a research report on Wednesday, November 20th. Six research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $129.46.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Atwater Malick LLC acquired a new stake in Lowe’s Companies in the third quarter worth $26,000. Massey Quick Simon & CO. LLC grew its stake in Lowe’s Companies by 268.6% in the third quarter. Massey Quick Simon & CO. LLC now owns 435 shares of the home improvement retailer’s stock valued at $48,000 after acquiring an additional 317 shares during the period. Ellevest Inc. acquired a new stake in Lowe’s Companies in the second quarter valued at approximately $81,000. Stonebridge Capital Advisors LLC acquired a new stake in Lowe’s Companies in the second quarter valued at approximately $85,000. Finally, Contravisory Investment Management Inc. increased its holdings in shares of Lowe’s Companies by 32.9% during the fourth quarter. Contravisory Investment Management Inc. now owns 832 shares of the home improvement retailer’s stock valued at $100,000 after acquiring an additional 206 shares in the last quarter. 74.58% of the stock is currently owned by hedge funds and other institutional investors.

About Lowe’s Companies

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

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