StockNews.com Downgrades Lowe’s Companies (NYSE:LOW) to Hold

Lowe’s Companies (NYSE:LOW) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Thursday.

Several other brokerages also recently issued reports on LOW. Wedbush reiterated a “neutral” rating and set a $250.00 price objective on shares of Lowe’s Companies in a research report on Thursday, December 12th. Oppenheimer upgraded shares of Lowe’s Companies from a “market perform” rating to an “outperform” rating and increased their target price for the company from $230.00 to $305.00 in a research report on Tuesday, September 24th. TD Cowen boosted their price target 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. Melius Research started coverage on shares of Lowe’s Companies in a report on Monday, September 23rd. They issued a “buy” rating and a $290.00 price objective for the company. Finally, Piper Sandler lifted their price target on Lowe’s Companies from $262.00 to $307.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. Eleven investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $280.85.

Lowe’s Companies Stock Up 0.4 %

Shares of NYSE:LOW opened at $247.78 on Thursday. Lowe’s Companies has a fifty-two week low of $209.55 and a fifty-two week high of $287.01. The company has a market cap of $139.91 billion, a PE ratio of 20.67, a P/E/G ratio of 2.20 and a beta of 1.11. The company’s 50-day moving average price is $261.23 and its 200 day moving average price is $253.01.

Insider Activity

In other Lowe’s Companies news, EVP Quonta D. Vance sold 7,198 shares of Lowe’s Companies stock in a transaction 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 approximately $4,582,802.11. This trade represents a 30.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.26% of the company’s stock.

Institutional Investors Weigh In On Lowe’s Companies

A number of hedge funds have recently made changes to their positions in the company. FMR LLC increased its holdings in shares of Lowe’s Companies by 10.2% during the third quarter. FMR LLC now owns 26,010,730 shares of the home improvement retailer’s stock worth $7,045,006,000 after buying an additional 2,399,897 shares in the last quarter. State Street Corp increased its holdings in Lowe’s Companies by 1.9% during the 3rd quarter. State Street Corp now owns 25,013,655 shares of the home improvement retailer’s stock valued at $6,774,948,000 after purchasing an additional 460,851 shares in the last quarter. Geode Capital Management LLC raised its position in Lowe’s Companies by 1.6% in the 3rd 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 purchasing an additional 187,473 shares during the last quarter. Legal & General Group Plc boosted its stake in 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 purchasing an additional 82,978 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings 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 during the last quarter. Institutional investors and hedge funds own 74.06% of the company’s stock.

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.