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

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

A number of other equities research analysts have also weighed in on LOW. Telsey Advisory Group reiterated an “outperform” rating and set a $305.00 target price on shares of Lowe’s Companies in a research note on Wednesday, February 26th. Wedbush reiterated a “neutral” rating and set a $250.00 price objective on shares of Lowe’s Companies in a research report on Thursday, December 12th. Mizuho dropped their target price on Lowe’s Companies from $305.00 to $300.00 and set an “outperform” rating on the stock in a research report on Thursday, February 27th. Stifel Nicolaus boosted their price target 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, Bank of America lowered their price objective on shares of Lowe’s Companies from $305.00 to $290.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $279.71.

Lowe’s Companies Stock Performance

NYSE LOW opened at $231.91 on Monday. Lowe’s Companies has a one year low of $211.80 and a one year high of $287.01. The stock has a 50-day moving average of $246.76 and a 200 day moving average of $257.53. The company has a market capitalization of $130.95 billion, a price-to-earnings ratio of 19.34, a PEG ratio of 1.96 and a beta of 1.12.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings results on Wednesday, February 26th. The home improvement retailer reported $1.93 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $18.55 billion during the quarter, compared to analyst estimates of $18.29 billion. On average, equities analysts predict that Lowe’s Companies will post 11.9 earnings per share for the current fiscal year.

Lowe’s Companies Announces Dividend

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

Hedge Funds Weigh In On Lowe’s Companies

Several institutional investors have recently bought and sold shares of LOW. 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 valued at $175,944,000 after purchasing an additional 24,812 shares in the last quarter. Miracle Mile Advisors LLC boosted its stake in 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 valued at $4,696,000 after buying an additional 14,132 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in Lowe’s Companies by 1.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 362,209 shares of the home improvement retailer’s stock valued at $98,104,000 after buying an additional 4,435 shares in the last quarter. Nations Financial Group Inc. IA ADV increased its stake in Lowe’s Companies by 2.6% in the 4th quarter. Nations Financial Group Inc. IA ADV now owns 19,830 shares of the home improvement retailer’s stock worth $4,894,000 after acquiring an additional 501 shares during the last quarter. Finally, Great Lakes Advisors LLC raised its holdings in shares of Lowe’s Companies by 1.5% during the 4th quarter. Great Lakes Advisors LLC now owns 472,838 shares of the home improvement retailer’s stock worth $116,696,000 after acquiring an additional 7,187 shares in the last quarter. 74.06% of the stock is owned by hedge funds and other 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.