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

Lowe’s Companies (NYSE:LOW) had its price target cut by analysts at Piper Sandler from $264.00 to $262.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the home improvement retailer’s stock. Piper Sandler’s price target would indicate a potential upside of 8.38% from the company’s current price.

Several other equities analysts have also issued reports on LOW. StockNews.com raised Lowe’s Companies from a “hold” rating to a “buy” rating in a research note on Friday, August 2nd. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $230.00 target price on shares of Lowe’s Companies in a research note on Tuesday. JPMorgan Chase & Co. boosted their price target on shares of Lowe’s Companies from $268.00 to $272.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Royal Bank of Canada reiterated a “sector perform” rating and set a $246.00 target price on shares of Lowe’s Companies in a research report on Wednesday, May 22nd. Finally, Evercore ISI raised their price target on Lowe’s Companies from $225.00 to $250.00 and gave the stock an “in-line” rating in a research report on Wednesday. Fourteen investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, Lowe’s Companies has a consensus rating of “Hold” and an average price target of $251.81.

Lowe’s Companies Stock Performance

Lowe’s Companies stock traded up $1.41 on Wednesday, reaching $241.74. The company’s stock had a trading volume of 361,987 shares, compared to its average volume of 2,525,774. The business’s fifty day moving average price is $230.83 and its 200 day moving average price is $232.19. Lowe’s Companies has a twelve month low of $181.85 and a twelve month high of $262.49. The company has a market cap of $137.75 billion, a price-to-earnings ratio of 19.42, a PEG ratio of 1.85 and a beta of 1.07.

Lowe’s Companies (NYSE:LOW) last announced its earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share for the quarter, topping 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 company had revenue of $23.59 billion during the quarter, compared to the consensus estimate of $23.93 billion. During the same period in the previous year, the firm posted $4.56 earnings per share. The company’s revenue was down 5.5% on a year-over-year basis. As a group, equities analysts forecast that Lowe’s Companies will post 12.23 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Tidemark LLC acquired a new position in Lowe’s Companies during the 4th quarter worth approximately $27,000. Voisard Asset Management Group Inc. bought a new stake in shares of Lowe’s Companies in the fourth quarter worth $28,000. Transcendent Capital Group LLC acquired a new position in Lowe’s Companies during the fourth quarter worth $31,000. Stephens Consulting LLC grew its position in Lowe’s Companies by 93.3% in the second quarter. Stephens Consulting LLC now owns 145 shares of the home improvement retailer’s stock valued at $32,000 after purchasing an additional 70 shares in the last quarter. Finally, Pacific Capital Wealth Advisors Inc. acquired a new stake in Lowe’s Companies in the 4th quarter valued at $33,000. 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.