Lowe’s Companies, Inc. (NYSE:LOW) Receives $277.92 Consensus Price Target from Brokerages

Lowe’s Companies, Inc. (NYSE:LOW) has received a consensus rating of “Moderate Buy” from the twenty-five ratings firms that are presently covering the stock, Marketbeat reports. Ten analysts have rated the stock with a hold recommendation and fifteen have assigned a buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $277.92.

Several equities research analysts recently issued reports on the stock. Loop Capital upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating and raised their target price for the stock from $250.00 to $300.00 in a report on Wednesday, October 9th. Morgan Stanley lifted their price target on shares of Lowe’s Companies from $250.00 to $255.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. JPMorgan Chase & Co. dropped their price target on shares of Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 21st. Barclays lifted their price target on shares of Lowe’s Companies from $229.00 to $245.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 20th. Finally, Mizuho lifted their price target on shares of Lowe’s Companies from $280.00 to $282.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 20th.

Lowe’s Companies Trading Down 0.8 %

Shares of LOW stock opened at $272.24 on Friday. Lowe’s Companies has a 12-month low of $203.85 and a 12-month high of $287.01. The firm’s 50 day moving average is $270.79 and its 200 day moving average is $247.06. The stock has a market capitalization of $153.72 billion, a P/E ratio of 22.71, a P/E/G ratio of 2.28 and a beta of 1.09.

Insiders Place Their Bets

In other news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $248.82, for a total value of $1,684,262.58. Following the sale, the chief accounting officer now directly owns 9,383 shares in the company, valued at $2,334,678.06. The trade was a 41.91 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Margrethe R. Vagell sold 5,730 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The stock was 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 in the company, valued at approximately $3,586,940.30. This trade represents a 30.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 19,697 shares of company stock worth $5,214,586 in the last 90 days. 0.26% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Lowe’s Companies

Several hedge funds have recently added to or reduced their stakes in the company. FMR LLC grew its holdings in 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 grew 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 during the last quarter. Geode Capital Management LLC grew its stake 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 worth $3,169,041,000 after acquiring an additional 187,473 shares in the last quarter. Legal & General Group Plc grew its stake in Lowe’s Companies by 1.6% in the 2nd 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 in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Lowe’s Companies by 1.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,369,052 shares of the home improvement retailer’s stock worth $912,508,000 after acquiring an additional 39,953 shares in the last quarter. 74.06% of the stock is currently owned by 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.