Lowe’s Companies (NYSE:LOW) Price Target Raised to $305.00

Lowe’s Companies (NYSE:LOW) had its price objective lifted by Mizuho from $282.00 to $305.00 in a research report report published on Thursday morning,Benzinga reports. Mizuho currently has an outperform rating on the home improvement retailer’s stock.

A number of other research analysts also recently issued reports on LOW. TD Cowen lifted their price objective on shares of Lowe’s Companies from $270.00 to $290.00 and gave the stock a “hold” rating in a research report on Monday, October 28th. Evercore ISI lifted their price target on shares of Lowe’s Companies from $255.00 to $270.00 and gave the stock an “in-line” rating in a report on Wednesday, November 20th. Wells Fargo & Company upped their price target on Lowe’s Companies from $280.00 to $295.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 6th. Sanford C. Bernstein lowered their price objective on Lowe’s Companies from $306.00 to $301.00 and set an “outperform” rating for the company in a research report on Wednesday, November 20th. Finally, StockNews.com raised Lowe’s Companies from a “hold” rating to a “buy” rating in a research report on Wednesday, September 18th. Ten investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, Lowe’s Companies currently has an average rating of “Moderate Buy” and a consensus price target of $280.85.

Lowe’s Companies Price Performance

Shares of NYSE LOW opened at $262.39 on Thursday. The business has a fifty day moving average price of $270.69 and a 200 day moving average price of $249.46. Lowe’s Companies has a 1-year low of $209.55 and a 1-year high of $287.01. The stock has a market capitalization of $148.16 billion, a P/E ratio of 21.88, a price-to-earnings-growth ratio of 2.25 and a beta of 1.09.

Insider Buying and Selling

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

Hedge Funds Weigh In On Lowe’s Companies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FMR LLC lifted its stake in Lowe’s Companies by 10.2% in 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 buying an additional 2,399,897 shares in the last quarter. State Street Corp lifted its position in shares of Lowe’s Companies by 1.9% in 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 acquiring an additional 460,851 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Lowe’s Companies by 1.6% in 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 acquiring an additional 187,473 shares in the last quarter. Legal & General Group Plc boosted its stake 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 acquiring an additional 82,978 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Lowe’s Companies by 1.2% during 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 purchasing an additional 39,953 shares in the last quarter. 74.06% of the stock is 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.