Lowe’s Companies (NYSE:LOW) Price Target Raised to $270.00

Lowe’s Companies (NYSE:LOW) had its price objective hoisted by Stifel Nicolaus from $265.00 to $270.00 in a research note published on Wednesday morning,Benzinga reports. The brokerage currently has a hold rating on the home improvement retailer’s stock.

Several other research firms have also commented on LOW. Morgan Stanley raised their price target on shares of Lowe’s Companies from $250.00 to $255.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Piper Sandler raised their price objective on Lowe’s Companies from $262.00 to $307.00 and gave the company an “overweight” rating in a report on Monday, September 30th. TD Cowen raised their target price on shares of Lowe’s Companies from $270.00 to $290.00 and gave the stock a “hold” rating in a research note on Monday, October 28th. Barclays lifted their price objective on Lowe’s Companies from $229.00 to $245.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 20th. Finally, Sanford C. Bernstein dropped their target price on Lowe’s Companies from $306.00 to $301.00 and set an “outperform” rating for the company in a report on Wednesday, November 20th. Ten analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, Lowe’s Companies currently has a consensus rating of “Moderate Buy” and an average target price of $280.85.

Lowe’s Companies Stock Performance

NYSE LOW opened at $262.30 on Wednesday. The firm has a market capitalization of $148.11 billion, a P/E ratio of 21.88, a PEG ratio of 2.25 and a beta of 1.09. The stock has a 50-day simple moving average of $270.80 and a two-hundred day simple moving average of $248.90. Lowe’s Companies has a fifty-two week low of $209.55 and a fifty-two week high of $287.01.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. grew its position in Lowe’s Companies by 151.6% during the second quarter. Assenagon Asset Management S.A. now owns 344,300 shares of the home improvement retailer’s stock valued at $75,904,000 after acquiring an additional 207,453 shares during the period. Cordatus Wealth Management LLC bought a new position in Lowe’s Companies during the 2nd quarter worth $3,315,000. Kennedy Investment Group increased its stake in shares of Lowe’s Companies by 2.3% in the second quarter. Kennedy Investment Group now owns 3,382 shares of the home improvement retailer’s stock valued at $746,000 after purchasing an additional 77 shares during the period. S.E.E.D. Planning Group LLC raised its stake in shares of Lowe’s Companies by 15.7% during the second quarter. S.E.E.D. Planning Group LLC now owns 11,895 shares of the home improvement retailer’s stock valued at $2,622,000 after purchasing an additional 1,611 shares in the last quarter. Finally, Pure Financial Advisors LLC lifted its stake in shares of Lowe’s Companies by 2.5% in the 2nd quarter. Pure Financial Advisors LLC now owns 1,813 shares of the home improvement retailer’s stock worth $400,000 after acquiring an additional 45 shares during the period. 74.06% of the stock is currently 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.