Brokerages Set Lowe's Companies, Inc. (NYSE:LOW) Price Target at $277.92

Lowe’s Companies, Inc. (NYSE:LOW) has received an average recommendation of “Moderate Buy” from the twenty-five analysts covering the stock, as reported by MarketBeat.com. Among these analysts, ten have assigned a hold rating, while fifteen have rated the stock as a buy. The average price target for Lowe’s shares over the next year has been set at $277.92 by various brokerages that have provided their ratings in the last year.

Recently, Lowe's Companies has been a focal point of different research reports. Notably, on November 20, Sanford C. Bernstein adjusted their price target for Lowe’s stock from $306.00 to $301.00, maintaining an “outperform” rating. Meanwhile, the Royal Bank of Canada raised their price target slightly from $290.00 to $291.00 and issued a “sector perform” rating on the same day. Additionally, Barclays increased its price target for Lowe’s shares from $229.00 to $245.00 in a research note on November 20, giving the stock an “equal weight” rating. On August 21, Wedbush reiterated its “neutral” rating on Lowe’s, with a target price set at $250.00. In the same vein, Morgan Stanley raised its target price for Lowe’s shares from $250.00 to $255.00, labeling the stock as “overweight.”

Insider Activity

In recent company news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of Lowe’s stock on September 12, at an average selling price of $248.82, resulting in a transaction worth approximately $1.68 million. After this transaction, Griggs now holds 9,383 shares valued at around $2.33 million, representing a 41.91% reduction in his ownership. The transaction was disclosed to the Securities and Exchange Commission (SEC). Furthermore, EVP Margrethe R. Vagell sold 5,730 shares on October 2, at an average price of $271.45, totaling a transaction value of about $1.56 million. Following this sale, Vagell owns 13,214 shares worth around $3.59 million, marking a 30.25% drop in her ownership. In total, insiders have sold 19,697 shares over the past three months, amounting to a value of $5.21 million. Corporate insiders hold only 0.26% of Lowe’s stock.

Institutional Ownership Trends

Recently, several hedge funds have adjusted their stakes in Lowe's Companies. Legacy Investment Solutions LLC entered a new position worth about $27,000 in the third quarter. Additionally, Stephens Consulting LLC raised its stake in Lowe’s by 93.3%, owning 145 shares after acquiring 70 more shares in the last quarter. JNBA Financial Advisors saw a substantial increase in their position by 555.6% during the third quarter, now holding 118 shares valued at $32,000 after buying 100 additional shares. MFA Wealth Advisors LLC also increased its possession by 118.6%, now owning 129 shares worth $35,000 after adding 70 shares last quarter. Moreover, Kimelman & Baird LLC has acquired a new interest in Lowe’s during the second quarter, valued around $37,000. A significant 74.06% of Lowe’s stock is owned by hedge funds and institutional investors.

Lowe’s Companies Stock Performance

As of Friday, Lowe’s Companies stock opened at $272.05, reflecting a slight decrease of 0.1%. The stock has a twelve-month low of $203.72 and a high of $287.01. The company’s moving averages stand at $270.29 for the 50-day and $246.30 for the 200-day periods. Lowe’s Companies holds a market capitalization of $154.33 billion, a PE ratio of 22.68, a price-to-earnings-growth ratio of 2.28, and a beta of 1.10.

About Lowe’s Companies

Lowe’s Companies, Inc., along with its subsidiaries, operates as a leading home improvement retailer in the United States. The company supplies various products for construction, maintenance, repair, remodeling, and decorating purposes. Their offerings include appliances, seasonal products, outdoor living items, lawn and garden supplies, lumber, kitchen and bath essentials, tools, paint, millwork, hardware, flooring, plumbing, building materials, décor, and electrical supplies.

Lowe's, Stock, Analysts