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

Lowe’s Companies (NYSE:LOW) had its price objective cut by equities research analysts at Piper Sandler from $296.00 to $269.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has an “overweight” rating on the home improvement retailer’s stock. Piper Sandler’s target price points to a potential upside of 16.65% from the company’s previous close.

A number of other brokerages also recently weighed in on LOW. Royal Bank of Canada lowered their price target on Lowe’s Companies from $292.00 to $285.00 and set a “sector perform” rating on the stock in a report on Thursday, February 27th. StockNews.com cut Lowe’s Companies from a “buy” rating to a “hold” rating in a research note on Tuesday, March 11th. Evercore ISI increased their price target on shares of Lowe’s Companies from $270.00 to $290.00 and gave the stock an “in-line” rating in a research report on Thursday, December 12th. BNP Paribas raised shares of Lowe’s Companies to a “strong sell” rating in a research report on Thursday, February 27th. Finally, Truist Financial dropped their price objective on shares of Lowe’s Companies from $308.00 to $295.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $279.71.

Lowe’s Companies Price Performance

Shares of LOW opened at $230.61 on Monday. The company has a 50-day moving average of $247.26 and a two-hundred day moving average of $257.71. The stock has a market cap of $130.21 billion, a price-to-earnings ratio of 19.23, a PEG ratio of 1.96 and a beta of 1.12. Lowe’s Companies has a one year low of $211.80 and a one year high of $287.01.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings results on Wednesday, February 26th. The home improvement retailer reported $1.93 EPS for the quarter, beating the consensus estimate 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 business had revenue of $18.55 billion during the quarter, compared to the consensus estimate of $18.29 billion. Analysts anticipate that Lowe’s Companies will post 11.9 earnings per share for the current year.

Institutional Investors Weigh In On Lowe’s Companies

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