Lowe’s Companies (NYSE:LOW) Given New $296.00 Price Target at Piper Sandler

Lowe’s Companies (NYSE:LOW) had its target price reduced by Piper Sandler from $307.00 to $296.00 in a research note issued to investors on Thursday morning,Benzinga reports. They currently have an overweight rating on the home improvement retailer’s stock.

A number of other research firms also recently weighed in on LOW. Bank of America cut their price target on Lowe’s Companies from $305.00 to $290.00 and set a “buy” rating on the stock in a research note on Thursday. Sanford C. Bernstein lifted their price target on Lowe’s Companies from $301.00 to $304.00 and gave the company an “outperform” rating in a research note on Thursday, December 12th. DA Davidson lifted their target price on Lowe’s Companies from $240.00 to $270.00 and gave the stock a “neutral” rating in a report on Wednesday, November 20th. Wedbush restated a “neutral” rating and issued a $250.00 target price on shares of Lowe’s Companies in a report on Thursday, December 12th. Finally, StockNews.com upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a research note on Friday, January 17th. Ten investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $280.83.

Lowe’s Companies Price Performance

Lowe’s Companies stock opened at $245.87 on Thursday. The firm has a fifty day moving average price of $252.50 and a two-hundred day moving average price of $258.77. Lowe’s Companies has a fifty-two week low of $211.80 and a fifty-two week high of $287.01. The firm has a market cap of $138.83 billion, a price-to-earnings ratio of 20.51, a P/E/G ratio of 1.96 and a beta of 1.11.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings results 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. Lowe’s Companies had a net margin of 8.19% and a negative return on equity of 47.55%. The firm had revenue of $18.55 billion for the quarter, compared to the consensus estimate of $18.29 billion. As a group, sell-side analysts expect that Lowe’s Companies will post 11.9 earnings per share for the current year.

Institutional Trading of Lowe’s Companies

Institutional investors and hedge funds have recently modified their holdings of the business. AMF Tjanstepension AB increased its holdings in shares of Lowe’s Companies by 14.4% in the 3rd quarter. AMF Tjanstepension AB now owns 159,742 shares of the home improvement retailer’s stock worth $43,290,000 after buying an additional 20,123 shares during the last quarter. Lodestar Private Asset Management LLC purchased a new position in shares of Lowe’s Companies in the 3rd quarter worth about $204,000. Cornerstone Wealth Group LLC boosted its holdings in shares of Lowe’s Companies by 0.8% in the 3rd quarter. Cornerstone Wealth Group LLC now owns 25,852 shares of the home improvement retailer’s stock worth $7,002,000 after purchasing an additional 195 shares in the last quarter. Solidarity Wealth LLC purchased a new position in shares of Lowe’s Companies during the 3rd quarter valued at about $203,000. Finally, Goldstone Financial Group LLC purchased a new position in shares of Lowe’s Companies during the third quarter worth approximately $203,000. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Company Profile

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.