Lowe’s Companies (NYSE:LOW) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

Lowe’s Companies (NYSE:LOW) had its target price hoisted by stock analysts at Royal Bank of Canada from $291.00 to $292.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a “sector perform” rating on the home improvement retailer’s stock. Royal Bank of Canada’s target price suggests a potential upside of 11.32% from the company’s previous close.

A number of other research firms have also weighed in on LOW. DA Davidson boosted their target price on shares of Lowe’s Companies from $240.00 to $270.00 and gave the stock a “neutral” rating in a report on Wednesday, November 20th. Gordon Haskett reduced their price objective on shares of Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating on the stock in a research note on Wednesday, August 21st. Piper Sandler raised their target price on Lowe’s Companies from $262.00 to $307.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. Barclays lifted their target price on Lowe’s Companies from $229.00 to $245.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 20th. Finally, Guggenheim reissued a “buy” rating and issued a $300.00 price target on shares of Lowe’s Companies in a research note on Thursday. Ten equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $280.85.

Lowe’s Companies Trading Down 0.5 %

Shares of LOW stock opened at $262.30 on Thursday. The firm has a market capitalization of $148.11 billion, a price-to-earnings ratio of 21.88, a PEG ratio of 2.25 and a beta of 1.09. The business’s 50-day moving average price is $270.69 and its 200-day moving average price is $249.22. Lowe’s Companies has a 12 month low of $209.55 and a 12 month high of $287.01.

Insider Buying and Selling at Lowe’s Companies

In other Lowe’s Companies news, EVP Margrethe R. Vagell sold 5,730 shares of the business’s stock in a transaction that occurred on 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 directly owns 13,214 shares of the company’s stock, valued at approximately $3,586,940.30. The trade was a 30.25 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Quonta D. Vance sold 7,198 shares of the firm’s stock in a transaction that occurred on 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 transaction, the executive vice president now owns 16,703 shares in the company, valued at $4,582,802.11. This represents a 30.12 % decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Lowe’s Companies

A number of hedge funds have recently bought and sold shares of LOW. FMR LLC lifted its position 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 valued at $7,045,006,000 after purchasing an additional 2,399,897 shares in the last quarter. State Street Corp increased its stake in Lowe’s Companies by 1.9% in 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 buying an additional 460,851 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Lowe’s Companies by 1.6% during 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 buying 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 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 buying an additional 82,978 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Lowe’s Companies by 1.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,369,052 shares of the home improvement retailer’s stock valued at $912,508,000 after acquiring 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.