Lowe’s Companies (NYSE:LOW) Given New $269.00 Price Target at Piper Sandler

Lowe’s Companies (NYSE:LOW) had its price objective cut by Piper Sandler from $296.00 to $269.00 in a research note published on Monday morning,Benzinga reports. They currently have an overweight rating on the home improvement retailer’s stock.

Several other equities analysts have also recently commented on LOW. Mizuho reduced their price objective 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, February 27th. Bank of America reduced their price objective on Lowe’s Companies from $305.00 to $290.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Guggenheim reiterated a “buy” rating and issued a $300.00 target price on shares of Lowe’s Companies in a research report on Thursday, December 12th. Royal Bank of Canada lowered their price objective on Lowe’s Companies from $292.00 to $285.00 and set a “sector perform” rating for the company in a research report on Thursday, February 27th. Finally, BNP Paribas raised shares of Lowe’s Companies to a “strong sell” rating in a research note on Thursday, February 27th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $279.71.

Lowe’s Companies Stock Up 2.6 %

Shares of LOW stock opened at $233.01 on Monday. The company has a 50 day moving average of $247.67 and a 200-day moving average of $257.80. Lowe’s Companies has a 12-month low of $211.80 and a 12-month high of $287.01. The firm has a market cap of $131.57 billion, a P/E ratio of 19.43, a PEG ratio of 1.96 and a beta of 1.12.

Lowe’s Companies (NYSE:LOW) last issued 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. 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. As a group, equities analysts expect that Lowe’s Companies will post 11.9 EPS for the current year.

Lowe’s Companies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 7th. Shareholders of record on Wednesday, April 23rd will be paid a dividend of $1.15 per share. The ex-dividend date is Wednesday, April 23rd. This represents a $4.60 dividend on an annualized basis and a yield of 1.97%. Lowe’s Companies’s dividend payout ratio is currently 37.67%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Klingenstein Fields & Co. LP lifted its position in Lowe’s Companies by 1.0% in the 4th quarter. Klingenstein Fields & Co. LP now owns 4,101 shares of the home improvement retailer’s stock valued at $1,012,000 after acquiring an additional 39 shares in the last quarter. Saxony Capital Management LLC boosted its position in shares of Lowe’s Companies by 4.2% during the fourth quarter. Saxony Capital Management LLC now owns 994 shares of the home improvement retailer’s stock valued at $245,000 after buying an additional 40 shares during the last quarter. Powers Advisory Group LLC increased its holdings in Lowe’s Companies by 2.7% in the 4th quarter. Powers Advisory Group LLC now owns 1,541 shares of the home improvement retailer’s stock worth $380,000 after buying an additional 40 shares in the last quarter. Gen Wealth Partners Inc raised its position 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 buying an additional 40 shares during the last quarter. Finally, Cordatus Wealth Management LLC lifted 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 acquiring an additional 41 shares during the period. 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.