Lowe’s Companies (NYSE:LOW) Price Target Raised to $290.00

Lowe’s Companies (NYSE:LOW) had its price objective raised by Evercore ISI from $270.00 to $290.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an in-line rating on the home improvement retailer’s stock.

LOW has been the topic of several other research reports. Loop Capital upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating and boosted their target price for the company from $250.00 to $300.00 in a report on Wednesday, October 9th. Barclays upped their target price on Lowe’s Companies from $229.00 to $245.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 20th. Piper Sandler lifted their target price on Lowe’s Companies from $262.00 to $307.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Wedbush restated a “neutral” rating and set a $250.00 price target on shares of Lowe’s Companies in a report on Thursday. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and set a $305.00 price objective on shares of Lowe’s Companies in a research report on Thursday. Ten research 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 presently has a consensus rating of “Moderate Buy” and an average price target of $280.85.

Lowe’s Companies Stock Performance

Shares of NYSE LOW opened at $262.39 on Thursday. The company’s 50 day moving average price is $270.69 and its 200-day moving average price is $249.46. Lowe’s Companies has a 52-week low of $209.55 and a 52-week high of $287.01. The company 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 Activity

In other Lowe’s Companies news, EVP Quonta D. Vance sold 7,198 shares of the company’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $274.37, for a total value of $1,974,915.26. Following the completion of the sale, the executive vice president now directly owns 16,703 shares of the company’s stock, valued at approximately $4,582,802.11. This represents a 30.12 % decrease in their position. The sale 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 stock in a transaction dated 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 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

Hedge funds and other institutional investors have recently bought and sold shares of the business. StoneX Group Inc. bought a new stake in shares of Lowe’s Companies during the 3rd quarter worth $2,713,000. HM Payson & Co. raised its position in Lowe’s Companies by 1.1% in the third quarter. HM Payson & Co. now owns 215,651 shares of the home improvement retailer’s stock worth $58,409,000 after acquiring an additional 2,322 shares during the period. Weiss Asset Management LP purchased a new position in Lowe’s Companies in the third quarter valued at about $16,143,000. Daymark Wealth Partners LLC grew its position in shares of Lowe’s Companies by 12.7% during the 2nd quarter. Daymark Wealth Partners LLC now owns 25,569 shares of the home improvement retailer’s stock valued at $5,637,000 after acquiring an additional 2,889 shares during the period. Finally, Erste Asset Management GmbH purchased a new stake in shares of Lowe’s Companies during the 3rd quarter worth approximately $5,976,000. 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.