Piper Sandler Lowers Lowe’s Companies (NYSE:LOW) Price Target to $269.00

Lowe’s Companies (NYSE:LOW) had its target price decreased by equities research analysts at Piper Sandler from $296.00 to $269.00 in a report issued on Monday,Benzinga reports. The firm currently has an “overweight” rating on the home improvement retailer’s stock. Piper Sandler’s price objective points to a potential upside of 18.45% from the company’s current price.

LOW has been the topic of several other reports. Royal Bank of Canada cut their target price on shares of Lowe’s Companies from $292.00 to $285.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 27th. Mizuho cut their price target on shares of Lowe’s Companies from $305.00 to $300.00 and set an “outperform” rating on the stock in a report on Thursday, February 27th. Truist Financial decreased their price objective on Lowe’s Companies from $308.00 to $295.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Guggenheim reaffirmed a “buy” rating and set a $300.00 target price on shares of Lowe’s Companies in a report on Thursday, December 12th. Finally, Telsey Advisory Group reissued an “outperform” rating and issued a $305.00 price target on shares of Lowe’s Companies in a research note on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $279.71.

Lowe’s Companies Stock Performance

NYSE LOW opened at $227.09 on Monday. The firm’s fifty day moving average price is $247.99 and its two-hundred day moving average price is $257.88. The stock has a market cap of $128.23 billion, a PE ratio of 18.94, a PEG ratio of 1.96 and a beta of 1.12. Lowe’s Companies has a fifty-two week low of $211.80 and a fifty-two week high of $287.01.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings data on Wednesday, February 26th. The home improvement retailer reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.10. The business 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, sell-side analysts predict that Lowe’s Companies will post 11.9 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Lowe’s Companies

A number of large investors have recently modified their holdings of LOW. United Bank raised its holdings in shares of Lowe’s Companies by 1.4% in the 3rd 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 during the last quarter. Eagle Asset Management Inc. raised its stake in shares of Lowe’s Companies by 3.0% in the third quarter. Eagle Asset Management Inc. now owns 13,824 shares of the home improvement retailer’s stock worth $3,748,000 after purchasing an additional 399 shares during the last quarter. Cahill Financial Advisors Inc. lifted its holdings in shares of Lowe’s Companies by 13.1% in the third quarter. Cahill Financial Advisors Inc. now owns 1,575 shares of the home improvement retailer’s stock valued at $427,000 after purchasing an additional 183 shares in the last quarter. Pekin Hardy Strauss Inc. purchased a new position in shares of Lowe’s Companies during the third quarter valued at approximately $221,000. Finally, Daiwa Securities Group Inc. grew its holdings in Lowe’s Companies by 10.4% during the third quarter. Daiwa Securities Group Inc. now owns 72,920 shares of the home improvement retailer’s stock worth $19,750,000 after buying an additional 6,870 shares in the last quarter. 74.06% of the stock is currently 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.