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

Lowe’s Companies (NYSE:LOW) had its price objective raised by Piper Sandler from $262.00 to $307.00 in a report published on Monday morning, Benzinga reports. Piper Sandler currently has an overweight rating on the home improvement retailer’s stock.

Several other equities research analysts also recently weighed in on the stock. Wells Fargo & Company cut their target price 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. Wedbush restated a neutral rating and issued a $250.00 price target on shares of Lowe’s Companies in a research note on Wednesday, August 21st. Melius Research assumed coverage on Lowe’s Companies in a research report on Monday, September 23rd. They set a buy rating and a $290.00 target price on the stock. Royal Bank of Canada lowered their price target on Lowe’s Companies from $245.00 to $238.00 and set a sector perform rating for the company in a report on Wednesday, August 21st. Finally, Oppenheimer upgraded shares of Lowe’s Companies from a market perform rating to an outperform rating and upped their target price for the company from $230.00 to $305.00 in a report on Tuesday, September 24th. Twelve research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, Lowe’s Companies currently has a consensus rating of Moderate Buy and an average target price of $263.54.

Lowe’s Companies Stock Down 0.2 %

Shares of Lowe’s Companies stock opened at $271.97 on Monday. The firm has a market cap of $154.98 billion, a PE ratio of 21.84, a price-to-earnings-growth ratio of 2.15 and a beta of 1.10. Lowe’s Companies has a 52 week low of $181.85 and a 52 week high of $274.16. The business’s fifty day simple moving average is $248.33 and its 200-day simple moving average is $236.73.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings data on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share for the quarter, beating analysts’ consensus estimates of $3.96 by $0.14. Lowe’s Companies had a negative return on equity of 47.07% and a net margin of 8.25%. The business had revenue of $23.59 billion during the quarter, compared to analysts’ expectations of $23.93 billion. During the same period in the previous year, the firm posted $4.56 earnings per share. The company’s revenue was down 5.5% on a year-over-year basis. As a group, equities analysts expect that Lowe’s Companies will post 11.93 earnings per share for the current year.

Lowe’s Companies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd will be issued a $1.15 dividend. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.15. The ex-dividend date is Wednesday, October 23rd. This represents a $4.60 annualized dividend and a dividend yield of 1.69%. Lowe’s Companies’s payout ratio is presently 36.95%.

Insiders Place Their Bets

In other Lowe’s Companies news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the business’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 sale, the chief accounting officer now directly owns 9,383 shares in the company, valued at approximately $2,334,678.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.26% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Lowe’s Companies

A number of hedge funds and other institutional investors have recently modified their holdings of LOW. Voisard Asset Management Group Inc. acquired a new stake in shares of Lowe’s Companies in the fourth quarter valued at approximately $28,000. Transcendent Capital Group LLC acquired a new stake in shares of Lowe’s Companies during the fourth quarter worth $31,000. Stephens Consulting LLC grew its position in shares of Lowe’s Companies by 93.3% in the second quarter. Stephens Consulting LLC now owns 145 shares of the home improvement retailer’s stock valued at $32,000 after purchasing an additional 70 shares during the period. Keener Financial Planning LLC acquired a new position in Lowe’s Companies in the first quarter valued at $35,000. Finally, Kimelman & Baird LLC acquired a new position in shares of Lowe’s Companies during the 2nd quarter valued at about $37,000. 74.06% of the stock is currently owned by institutional investors and hedge funds.

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.