Lowe’s Companies’ (LOW) Buy Rating Reiterated at Guggenheim

Guggenheim restated their buy rating on shares of Lowe’s Companies (NYSE:LOW) in a research report sent to investors on Thursday morning,Benzinga reports. Guggenheim currently has a $300.00 price target on the home improvement retailer’s stock.

LOW has been the subject of a number of other research reports. Bank of America boosted their price objective on Lowe’s Companies from $275.00 to $305.00 and gave the company a “buy” rating in a research report on Friday, October 11th. Piper Sandler boosted their price objective 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. Wedbush restated a “neutral” rating and set a $250.00 price objective on shares of Lowe’s Companies in a research report on Thursday. Wells Fargo & Company boosted their price objective on Lowe’s Companies from $280.00 to $295.00 and gave the company an “overweight” rating in a research report on Wednesday, November 6th. Finally, Oppenheimer upgraded Lowe’s Companies from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $230.00 to $305.00 in a research report on Tuesday, September 24th. Ten investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $280.85.

Lowe’s Companies Trading Down 0.4 %

Shares of LOW opened at $262.39 on Thursday. The firm has a market cap of $148.16 billion, a price-to-earnings ratio of 21.88, a PEG ratio of 2.25 and a beta of 1.09. The stock has a 50 day moving average of $270.69 and a 200-day moving average of $249.46. Lowe’s Companies has a 52 week low of $209.55 and a 52 week high of $287.01.

Insider Buying and Selling

In related news, EVP Margrethe R. Vagell sold 5,730 shares of Lowe’s Companies stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $271.45, for a total value of $1,555,408.50. Following the transaction, the executive vice president now directly owns 13,214 shares in the company, valued at $3,586,940.30. The trade was a 30.25 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 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. The trade was a 30.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.26% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of LOW. FMR LLC grew 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 valued at $7,045,006,000 after buying an additional 2,399,897 shares in the last quarter. International Assets Investment Management LLC grew its holdings in shares of Lowe’s Companies by 1,889.7% during the third quarter. International Assets Investment Management LLC now owns 2,134,969 shares of the home improvement retailer’s stock valued at $578,256,000 after buying an additional 2,027,668 shares in the last quarter. Strategic Financial Concepts LLC grew its holdings in shares of Lowe’s Companies by 20,275.6% during the second quarter. Strategic Financial Concepts LLC now owns 1,205,014 shares of the home improvement retailer’s stock valued at $2,657,000 after buying an additional 1,199,100 shares in the last quarter. Applied Finance Capital Management LLC grew its holdings in shares of Lowe’s Companies by 387.7% during the third quarter. Applied Finance Capital Management LLC now owns 811,374 shares of the home improvement retailer’s stock valued at $219,761,000 after buying an additional 645,017 shares in the last quarter. Finally, Marshall Wace LLP grew its holdings in shares of Lowe’s Companies by 170.5% during the second quarter. Marshall Wace LLP now owns 735,633 shares of the home improvement retailer’s stock valued at $162,178,000 after buying an additional 463,645 shares in the last quarter. 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.