Piper Sandler Trims Lowe’s Companies (NYSE:LOW) Target Price to $262.00

Lowe’s Companies (NYSE:LOW) had its price objective decreased by investment analysts at Piper Sandler from $264.00 to $262.00 in a report released on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the home improvement retailer’s stock. Piper Sandler’s target price would indicate a potential upside of 8.38% from the company’s previous close.

Other equities research analysts also recently issued research reports about the company. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $230.00 price objective on shares of Lowe’s Companies in a research report on Tuesday. Stifel Nicolaus upped their price objective on shares of Lowe’s Companies from $225.00 to $250.00 and gave the company a “hold” rating in a research note on Monday, May 13th. Bank of America cut their price objective on shares of Lowe’s Companies from $280.00 to $275.00 and set a “buy” rating on the stock in a report on Wednesday. Evercore ISI upped their price target on shares of Lowe’s Companies from $225.00 to $250.00 and gave the stock an “in-line” rating in a research report on Wednesday. Finally, Truist Financial lifted their price target on shares of Lowe’s Companies from $265.00 to $269.00 and gave the company a “buy” rating in a report on Wednesday. Fourteen analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, Lowe’s Companies presently has an average rating of “Hold” and an average price target of $251.81.

Lowe’s Companies Stock Performance

LOW stock traded up $1.41 during trading on Wednesday, hitting $241.74. The stock had a trading volume of 361,987 shares, compared to its average volume of 2,525,774. The stock has a market cap of $137.75 billion, a price-to-earnings ratio of 19.42, a price-to-earnings-growth ratio of 1.85 and a beta of 1.07. The company’s 50 day moving average price is $230.83 and its two-hundred day moving average price is $232.19. Lowe’s Companies has a 1-year low of $181.85 and a 1-year high of $262.49.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings data on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share for the quarter, beating analysts’ consensus estimates of $3.96 by $0.14. Lowe’s Companies had a net margin of 8.46% and a negative return on equity of 48.52%. The business had revenue of $23.59 billion during the quarter, compared to analyst estimates of $23.93 billion. During the same quarter in the previous year, the business posted $4.56 earnings per share. The company’s revenue was down 5.5% on a year-over-year basis. As a group, sell-side analysts forecast that Lowe’s Companies will post 12.23 earnings per share for the current fiscal year.

Institutional Trading of Lowe’s Companies

Several institutional investors have recently added to or reduced their stakes in LOW. Tidemark LLC bought a new stake in shares of Lowe’s Companies in the 4th quarter worth about $27,000. Voisard Asset Management Group Inc. acquired a new position in Lowe’s Companies in the fourth quarter worth about $28,000. Transcendent Capital Group LLC bought a new stake in Lowe’s Companies in the fourth quarter valued at about $31,000. Stephens Consulting LLC raised its stake in Lowe’s Companies by 93.3% during the second quarter. Stephens Consulting LLC now owns 145 shares of the home improvement retailer’s stock valued at $32,000 after buying an additional 70 shares in the last quarter. Finally, Pacific Capital Wealth Advisors Inc. bought a new position in Lowe’s Companies during the 4th quarter worth approximately $33,000. 74.06% of the stock is 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.