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

Lowe’s Companies (NYSE:LOW) had its target price reduced by Piper Sandler from $296.00 to $269.00 in a report released on Monday morning, Marketbeat Ratings reports. Piper Sandler currently has an overweight rating on the home improvement retailer’s stock.

Other equities analysts also recently issued reports about the stock. Evercore ISI boosted 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 report on Thursday, December 12th. BNP Paribas upgraded shares of Lowe’s Companies to a “strong sell” rating in a research note on Thursday, February 27th. Truist Financial decreased their price target on shares of Lowe’s Companies from $308.00 to $295.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Stifel Nicolaus upped their price objective on Lowe’s Companies from $265.00 to $270.00 and gave the company a “hold” rating in a research note on Wednesday, December 11th. Finally, Sanford C. Bernstein boosted their target price 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. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $279.71.

Lowe’s Companies Stock Performance

Shares of LOW opened at $231.91 on Monday. Lowe’s Companies has a 52 week low of $211.80 and a 52 week high of $287.01. The stock has a 50 day moving average price of $246.76 and a two-hundred day moving average price of $257.53. The firm has a market capitalization of $130.95 billion, a P/E ratio of 19.34, a P/E/G ratio of 1.96 and a beta of 1.12.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings results on Wednesday, February 26th. The home improvement retailer reported $1.93 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.10. Lowe’s Companies had a negative return on equity of 47.55% and a net margin of 8.19%. The business had revenue of $18.55 billion during the quarter, compared to analyst estimates of $18.29 billion. On average, equities analysts forecast that Lowe’s Companies will post 11.9 earnings per share for the current year.

Lowe’s Companies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 7th. Shareholders of record on Wednesday, April 23rd will be paid a $1.15 dividend. The ex-dividend date is Wednesday, April 23rd. This represents a $4.60 dividend on an annualized basis and a yield of 1.98%. Lowe’s Companies’s dividend payout ratio is presently 37.67%.

Institutional Investors Weigh In On Lowe’s Companies

A number of large investors have recently added to or reduced their stakes in LOW. Klingenstein Fields & Co. LP boosted its position in Lowe’s Companies by 1.0% during the fourth quarter. Klingenstein Fields & Co. LP now owns 4,101 shares of the home improvement retailer’s stock valued at $1,012,000 after buying an additional 39 shares during the period. Saxony Capital Management LLC grew its holdings in Lowe’s Companies by 4.2% in the fourth quarter. Saxony Capital Management LLC now owns 994 shares of the home improvement retailer’s stock worth $245,000 after purchasing an additional 40 shares during the period. Powers Advisory Group LLC raised its stake in Lowe’s Companies by 2.7% during the fourth quarter. Powers Advisory Group LLC now owns 1,541 shares of the home improvement retailer’s stock valued at $380,000 after buying an additional 40 shares during the last quarter. Gen Wealth Partners Inc boosted its stake in Lowe’s Companies by 1.9% in the 4th quarter. Gen Wealth Partners Inc now owns 2,163 shares of the home improvement retailer’s stock worth $534,000 after purchasing an additional 40 shares in the last quarter. Finally, Cordatus Wealth Management LLC increased its stake in Lowe’s Companies by 0.3% during the 4th quarter. Cordatus Wealth Management LLC now owns 15,012 shares of the home improvement retailer’s stock valued at $3,705,000 after purchasing an additional 41 shares in the last quarter. Hedge funds and other institutional investors 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.