Piper Sandler Issues Pessimistic Forecast for Lowe’s Companies (NYSE:LOW) Stock Price

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

Several other brokerages have also recently issued reports on LOW. DA Davidson upped their target price on Lowe’s Companies from $240.00 to $270.00 and gave the company a “neutral” rating in a report on Wednesday, November 20th. Barclays raised their price objective on shares of Lowe’s Companies from $229.00 to $245.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 20th. Evercore ISI lifted their target price on shares of 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. Mizuho dropped their price target on shares of Lowe’s Companies from $305.00 to $300.00 and set an “outperform” rating for the company in a research note on Thursday. Finally, Guggenheim reaffirmed a “buy” rating and set a $300.00 price target on shares of Lowe’s Companies in a research report on Thursday, December 12th. Ten investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Lowe’s Companies currently has an average rating of “Moderate Buy” and a consensus price target of $280.83.

Lowe’s Companies Stock Up 1.3 %

Shares of NYSE LOW opened at $248.71 on Thursday. The stock has a market capitalization of $140.43 billion, a price-to-earnings ratio of 20.74, a price-to-earnings-growth ratio of 1.96 and a beta of 1.11. Lowe’s Companies has a 52 week low of $211.80 and a 52 week high of $287.01. The firm has a 50-day simple moving average of $252.52 and a 200-day simple moving average of $258.89.

Lowe’s Companies (NYSE:LOW) last released its earnings results 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. The business had revenue of $18.55 billion for the quarter, compared to analyst estimates of $18.29 billion. Lowe’s Companies had a net margin of 8.19% and a negative return on equity of 47.55%. As a group, equities research analysts expect that Lowe’s Companies will post 11.9 EPS for the current year.

Hedge Funds Weigh In On Lowe’s Companies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LOW. StoneX Group Inc. acquired a new position in Lowe’s Companies during the 3rd quarter worth $2,713,000. Principal Financial Group Inc. grew its position in shares of Lowe’s Companies by 4.0% during the third quarter. Principal Financial Group Inc. now owns 649,601 shares of the home improvement retailer’s stock worth $175,944,000 after buying an additional 24,812 shares in the last quarter. Miracle Mile Advisors LLC grew its position in shares of Lowe’s Companies by 288.6% during the fourth quarter. Miracle Mile Advisors LLC now owns 19,028 shares of the home improvement retailer’s stock worth $4,696,000 after buying an additional 14,132 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of Lowe’s Companies by 1.2% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 362,209 shares of the home improvement retailer’s stock worth $98,104,000 after buying an additional 4,435 shares during the period. Finally, Nations Financial Group Inc. IA ADV raised its holdings in Lowe’s Companies by 2.6% in the fourth quarter. Nations Financial Group Inc. IA ADV now owns 19,830 shares of the home improvement retailer’s stock valued at $4,894,000 after acquiring an additional 501 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.