Piper Sandler Cuts Lowe’s Companies (NYSE:LOW) Price Target to $296.00

Lowe’s Companies (NYSE:LOW) had its price objective cut by stock analysts at Piper Sandler from $307.00 to $296.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the home improvement retailer’s stock. Piper Sandler’s target price indicates a potential upside of 19.76% from the company’s current price.

LOW has been the topic of several other research reports. Bank of America reduced their target price on shares of Lowe’s Companies from $305.00 to $290.00 and set a “buy” rating on the stock in a research note on Thursday. Royal Bank of Canada upped their price objective on Lowe’s Companies from $291.00 to $292.00 and gave the company a “sector perform” rating in a report on Thursday, December 12th. Telsey Advisory Group reiterated an “outperform” rating and issued a $305.00 price target on shares of Lowe’s Companies in a research report on Wednesday. DA Davidson upped their target price on shares of Lowe’s Companies from $240.00 to $270.00 and gave the company a “neutral” rating in a research note on Wednesday, November 20th. Finally, Evercore ISI boosted their price target on shares of Lowe’s Companies from $270.00 to $290.00 and gave the company an “in-line” rating in a report on Thursday, December 12th. Ten investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $281.67.

Lowe’s Companies Stock Performance

Shares of LOW stock opened at $247.16 on Thursday. Lowe’s Companies has a 52 week low of $211.80 and a 52 week high of $287.01. The stock has a market capitalization of $139.56 billion, a PE ratio of 20.61, a PEG ratio of 1.96 and a beta of 1.11. The stock’s fifty day moving average is $252.48 and its 200-day moving average is $258.86.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings data on Wednesday, February 26th. The home improvement retailer reported $1.93 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.10. The firm had revenue of $18.55 billion for the quarter, compared to analyst estimates of $18.29 billion. Lowe’s Companies had a negative return on equity of 47.55% and a net margin of 8.19%. As a group, analysts forecast that Lowe’s Companies will post 11.9 earnings per share for the current fiscal year.

Institutional Trading of Lowe’s Companies

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. StoneX Group Inc. acquired a new stake in Lowe’s Companies in the 3rd quarter valued at about $2,713,000. Principal Financial Group Inc. raised its stake in Lowe’s Companies by 4.0% in the third quarter. Principal Financial Group Inc. now owns 649,601 shares of the home improvement retailer’s stock valued at $175,944,000 after buying an additional 24,812 shares during the period. Miracle Mile Advisors LLC lifted its position in shares of Lowe’s Companies by 288.6% in the fourth quarter. Miracle Mile Advisors LLC now owns 19,028 shares of the home improvement retailer’s stock valued at $4,696,000 after buying an additional 14,132 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Lowe’s Companies by 1.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 362,209 shares of the home improvement retailer’s stock worth $98,104,000 after acquiring an additional 4,435 shares during the period. Finally, Nations Financial Group Inc. IA ADV increased its holdings in shares of Lowe’s Companies by 2.6% during the 4th quarter. Nations Financial Group Inc. IA ADV now owns 19,830 shares of the home improvement retailer’s stock worth $4,894,000 after acquiring an additional 501 shares during the last quarter. 74.06% of the stock is owned by institutional investors.

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.