Lowe’s Companies (NYSE:LOW) Price Target Raised to $292.00

Lowe’s Companies (NYSE:LOW) had its price target hoisted by stock analysts at Royal Bank of Canada from $291.00 to $292.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a “sector perform” rating on the home improvement retailer’s stock. Royal Bank of Canada’s price objective indicates a potential upside of 11.32% from the stock’s previous close.

Several other equities analysts also recently commented on the company. Bank of America upped their price objective on Lowe’s Companies from $275.00 to $305.00 and gave the company a “buy” rating in a research note on Friday, October 11th. 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 price target on the stock. DA Davidson increased their price target on Lowe’s Companies from $240.00 to $270.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 20th. Telsey Advisory Group restated an “outperform” rating and issued a $305.00 price objective on shares of Lowe’s Companies in a research note on Thursday. Finally, Piper Sandler increased their target price on shares of Lowe’s Companies from $262.00 to $307.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. Ten research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat, Lowe’s Companies currently has an average rating of “Moderate Buy” and a consensus target price of $280.85.

Lowe’s Companies Stock Performance

Shares of LOW stock opened at $262.30 on Thursday. The firm has a market cap of $148.11 billion, a price-to-earnings ratio of 21.88, a P/E/G ratio of 2.25 and a beta of 1.09. Lowe’s Companies has a 52 week low of $209.55 and a 52 week high of $287.01. The firm’s 50-day simple moving average is $270.69 and its two-hundred day simple moving average is $249.22.

Insider Activity

In related news, EVP Quonta D. Vance sold 7,198 shares of the stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $274.37, for a total value of $1,974,915.26. Following the transaction, the executive vice president now owns 16,703 shares of the company’s stock, valued at $4,582,802.11. This represents a 30.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Margrethe R. Vagell sold 5,730 shares of Lowe’s Companies stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $271.45, for a total value of $1,555,408.50. Following the sale, the executive vice president now directly owns 13,214 shares of the company’s stock, valued at approximately $3,586,940.30. This trade represents a 30.25 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.26% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in LOW. FMR LLC grew its holdings in shares of Lowe’s Companies by 10.2% during the 3rd quarter. FMR LLC now owns 26,010,730 shares of the home improvement retailer’s stock valued at $7,045,006,000 after purchasing an additional 2,399,897 shares during the last quarter. State Street Corp boosted its position in Lowe’s Companies by 1.9% during the third quarter. State Street Corp now owns 25,013,655 shares of the home improvement retailer’s stock valued at $6,774,948,000 after buying an additional 460,851 shares during the period. Geode Capital Management LLC grew its stake in shares of Lowe’s Companies by 1.6% during the third quarter. Geode Capital Management LLC now owns 11,733,461 shares of the home improvement retailer’s stock valued at $3,169,041,000 after buying an additional 187,473 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of Lowe’s Companies by 1.6% in the second quarter. Legal & General Group Plc now owns 5,205,491 shares of the home improvement retailer’s stock worth $1,147,603,000 after buying an additional 82,978 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Lowe’s Companies by 1.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,369,052 shares of the home improvement retailer’s stock worth $912,508,000 after buying an additional 39,953 shares during the period. 74.06% of the stock is owned by hedge funds and other institutional investors.

Lowe’s Companies Company Profile

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.