Lowe’s Companies (NYSE:LOW) Price Target Raised to $270.00 at Stifel Nicolaus

Lowe’s Companies (NYSE:LOW) had its target price increased by Stifel Nicolaus from $265.00 to $270.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a “hold” rating on the home improvement retailer’s stock. Stifel Nicolaus’ target price would indicate a potential downside of 0.35% from the company’s previous close.

LOW has been the subject of a number of other reports. Sanford C. Bernstein lowered their price objective on Lowe’s Companies from $306.00 to $301.00 and set an “outperform” rating for the company in a research report on Wednesday, November 20th. Wells Fargo & Company raised their target price on Lowe’s Companies from $280.00 to $295.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 6th. JPMorgan Chase & Co. decreased their target price on Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating for the company in a research note on Wednesday, August 21st. Barclays raised their target price on 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 raised their target price on Lowe’s Companies from $280.00 to $282.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 20th. Ten equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $278.32.

Lowe’s Companies Stock Performance

Shares of Lowe’s Companies stock traded up $0.84 on Wednesday, reaching $270.95. 440,160 shares of the stock were exchanged, compared to its average volume of 2,431,677. The firm’s 50 day moving average is $271.07 and its 200-day moving average is $248.27. Lowe’s Companies has a one year low of $205.84 and a one year high of $287.01. The firm has a market cap of $152.99 billion, a PE ratio of 22.56, a P/E/G ratio of 2.29 and a beta of 1.10.

Insider Buying and Selling

In other news, 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 directly owns 16,703 shares in the company, valued at approximately $4,582,802.11. The trade was a 30.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of Lowe’s Companies stock in a transaction on 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 completion of the transaction, the chief accounting officer now owns 9,383 shares of the company’s stock, valued at approximately $2,334,678.06. This trade represents a 41.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,697 shares of company stock worth $5,214,586. 0.26% of the stock is owned by company insiders.

Hedge Funds Weigh In On Lowe’s Companies

Several hedge funds have recently made changes to their positions in LOW. Assenagon Asset Management S.A. grew its position in shares of Lowe’s Companies by 151.6% in the second quarter. Assenagon Asset Management S.A. now owns 344,300 shares of the home improvement retailer’s stock valued at $75,904,000 after purchasing an additional 207,453 shares in the last quarter. Cordatus Wealth Management LLC purchased a new position in Lowe’s Companies during the second quarter worth about $3,315,000. Kennedy Investment Group grew its position in Lowe’s Companies by 2.3% during the second quarter. Kennedy Investment Group now owns 3,382 shares of the home improvement retailer’s stock worth $746,000 after buying an additional 77 shares in the last quarter. S.E.E.D. Planning Group LLC boosted its holdings in shares of Lowe’s Companies by 15.7% in the 2nd quarter. S.E.E.D. Planning Group LLC now owns 11,895 shares of the home improvement retailer’s stock worth $2,622,000 after purchasing an additional 1,611 shares in the last quarter. Finally, Pure Financial Advisors LLC boosted its holdings in shares of Lowe’s Companies by 2.5% in the 2nd quarter. Pure Financial Advisors LLC now owns 1,813 shares of the home improvement retailer’s stock worth $400,000 after purchasing an additional 45 shares in the last quarter. 74.06% of the stock is currently 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.