Piper Sandler Increases Lowe’s Companies (NYSE:LOW) Price Target to $307.00

Lowe’s Companies (NYSE:LOW) had its price target increased by equities researchers at Piper Sandler from $262.00 to $307.00 in a research report issued to clients and 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 12.60% from the company’s previous close.

A number of other equities analysts have also recently weighed in on LOW. Melius Research assumed coverage on Lowe’s Companies in a report on Monday, September 23rd. They issued a “buy” rating and a $290.00 price target for the company. Evercore ISI lifted their price objective on shares of Lowe’s Companies from $225.00 to $250.00 and gave the company an “in-line” rating in a research note on Wednesday, August 21st. Gordon Haskett dropped their target price on shares of Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating for the company in a research report on Wednesday, August 21st. StockNews.com raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a report on Wednesday, September 18th. Finally, Wells Fargo & Company lowered their price objective on shares of Lowe’s Companies from $290.00 to $280.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 21st. Eleven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Lowe’s Companies presently has a consensus rating of “Moderate Buy” and an average price target of $260.00.

Lowe’s Companies Stock Up 0.7 %

LOW opened at $272.65 on Monday. Lowe’s Companies has a 52 week low of $181.85 and a 52 week high of $274.16. The firm has a market cap of $155.37 billion, a price-to-earnings ratio of 21.90, a price-to-earnings-growth ratio of 2.15 and a beta of 1.10. The business’s 50 day moving average is $247.52 and its two-hundred day moving average is $236.48.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 EPS for the quarter, beating the consensus estimate of $3.96 by $0.14. The business had revenue of $23.59 billion during the quarter, compared to analysts’ expectations of $23.93 billion. Lowe’s Companies had a negative return on equity of 47.07% and a net margin of 8.25%. The company’s quarterly revenue was down 5.5% compared to the same quarter last year. During the same period last year, the firm earned $4.56 EPS. Equities analysts expect that Lowe’s Companies will post 11.93 EPS for the current fiscal year.

Insider Buying and Selling at Lowe’s Companies

In other news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the firm’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $248.82, for a total transaction of $1,684,262.58. Following the transaction, the chief accounting officer now owns 9,383 shares in the company, valued at approximately $2,334,678.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.26% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in LOW. Vanguard Group Inc. lifted its position in Lowe’s Companies by 5.2% during the 1st quarter. Vanguard Group Inc. now owns 53,693,630 shares of the home improvement retailer’s stock worth $13,677,378,000 after acquiring an additional 2,674,372 shares during the last quarter. Legal & General Group Plc boosted its holdings in Lowe’s Companies by 1.6% in the 2nd quarter. Legal & General Group Plc now owns 5,205,491 shares of the home improvement retailer’s stock valued at $1,147,603,000 after purchasing an additional 82,978 shares during the period. Schroder Investment Management Group grew its position in Lowe’s Companies by 1.9% in the 4th quarter. Schroder Investment Management Group now owns 2,851,127 shares of the home improvement retailer’s stock worth $634,518,000 after purchasing an additional 52,859 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Lowe’s Companies by 36.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,840,704 shares of the home improvement retailer’s stock worth $468,884,000 after purchasing an additional 493,180 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its holdings in shares of Lowe’s Companies by 6.0% during the 2nd quarter. Envestnet Asset Management Inc. now owns 1,617,849 shares of the home improvement retailer’s stock worth $356,671,000 after purchasing an additional 90,945 shares during the period. Institutional investors and hedge funds own 74.06% of the company’s stock.

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.