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

Lowe’s Companies (NYSE:LOW) had its price target dropped by investment analysts at Piper Sandler from $307.00 to $296.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the home improvement retailer’s stock. Piper Sandler’s price target indicates a potential upside of 19.01% from the company’s previous close.

LOW has been the subject of several other research reports. Truist Financial raised their price objective on Lowe’s Companies from $307.00 to $308.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. Evercore ISI raised their price target on Lowe’s Companies from $270.00 to $290.00 and gave the stock an “in-line” rating in a research note on Thursday, December 12th. Wedbush reaffirmed a “neutral” rating and set a $250.00 price target on shares of Lowe’s Companies in a research report on Thursday, December 12th. StockNews.com raised Lowe’s Companies from a “hold” rating to a “buy” rating in a report on Friday, January 17th. Finally, Wells Fargo & Company lifted their target price on shares of Lowe’s Companies from $280.00 to $295.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. Ten analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $280.83.

Lowe’s Companies Stock Performance

Shares of NYSE LOW opened at $248.71 on Thursday. The stock’s 50-day simple moving average is $252.52 and its 200-day simple moving average is $258.89. The firm has a market capitalization of $140.43 billion, a PE ratio of 20.74, a price-to-earnings-growth ratio of 1.96 and a beta of 1.11. 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 released 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. Lowe’s Companies had a net margin of 8.19% and a negative return on equity of 47.55%. The company had revenue of $18.55 billion for the quarter, compared to analysts’ expectations of $18.29 billion. On average, sell-side analysts forecast that Lowe’s Companies will post 11.9 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Lowe’s Companies

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Norges Bank acquired a new stake in shares of Lowe’s Companies in the fourth quarter valued at about $1,842,954,000. FMR LLC lifted its position in shares of Lowe’s Companies by 10.2% during the 3rd quarter. FMR LLC now owns 26,010,730 shares of the home improvement retailer’s stock valued at $7,045,006,000 after acquiring an additional 2,399,897 shares during the period. Kovitz Investment Group Partners LLC boosted its stake in shares of Lowe’s Companies by 350.2% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 2,373,460 shares of the home improvement retailer’s stock worth $585,770,000 after acquiring an additional 1,846,315 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Lowe’s Companies in the 4th quarter worth approximately $314,435,000. Finally, Strategic Financial Concepts LLC increased its stake in Lowe’s Companies by 24,531.0% in the 4th quarter. Strategic Financial Concepts LLC now owns 1,228,102 shares of the home improvement retailer’s stock valued at $303,096,000 after purchasing an additional 1,223,116 shares in the last quarter. Institutional investors and hedge funds 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.