Lowe’s Companies (NYSE:LOW) Price Target Raised to $307.00

Lowe’s Companies (NYSE:LOW) had its price target boosted by analysts at Piper Sandler from $262.00 to $307.00 in a report issued on Monday, Benzinga reports. The brokerage presently has an “overweight” rating on the home improvement retailer’s stock. Piper Sandler’s price objective points to a potential upside of 14.17% from the stock’s current price.

A number of other research firms also recently issued reports on LOW. JPMorgan Chase & Co. decreased their target price on shares of Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating for the company in a research report on Wednesday, August 21st. Royal Bank of Canada decreased their target price on shares of Lowe’s Companies from $245.00 to $238.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 21st. Melius Research began coverage on shares of Lowe’s Companies in a research report on Monday, September 23rd. They set a “buy” rating and a $290.00 target price for the company. TD Cowen boosted their target price on shares of Lowe’s Companies from $240.00 to $265.00 and gave the company a “hold” rating in a research report on Thursday, September 19th. Finally, Evercore ISI lifted their price objective on shares of Lowe’s Companies from $225.00 to $250.00 and gave the company an “in-line” rating in a report on Wednesday, August 21st. Eleven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, Lowe’s Companies presently has an average rating of “Moderate Buy” and an average price target of $260.00.

Lowe’s Companies Trading Up 0.7 %

Shares of NYSE:LOW traded up $1.75 on Monday, hitting $268.89. 176,940 shares of the company were exchanged, compared to its average volume of 2,474,773. Lowe’s Companies has a 1-year low of $181.85 and a 1-year high of $269.08. The stock’s 50 day moving average price is $246.22 and its 200 day moving average price is $236.10. The firm has a market capitalization of $153.22 billion, a P/E ratio of 21.50, a price-to-earnings-growth ratio of 2.15 and a beta of 1.10.

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

Insider Activity at Lowe’s Companies

In related news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief accounting officer now owns 9,383 shares of the company’s stock, valued at approximately $2,334,678.06. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.26% of the stock is owned by corporate insiders.

Institutional Trading of Lowe’s Companies

Large investors have recently bought and sold shares of the business. Voisard Asset Management Group Inc. purchased a new stake in shares of Lowe’s Companies in the 4th quarter valued at approximately $28,000. Keener Financial Planning LLC purchased a new stake in shares of Lowe’s Companies in the 1st quarter valued at approximately $35,000. Transcendent Capital Group LLC purchased a new stake in shares of Lowe’s Companies in the 4th quarter valued at approximately $31,000. Stephens Consulting LLC grew its stake in shares of Lowe’s Companies by 93.3% in the 2nd quarter. Stephens Consulting LLC now owns 145 shares of the home improvement retailer’s stock valued at $32,000 after buying an additional 70 shares during the period. Finally, Kimelman & Baird LLC purchased a new stake in shares of Lowe’s Companies in the 2nd quarter valued at approximately $37,000. 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.