Truist Financial Has Lowered Expectations for Lowe’s Companies (NYSE:LOW) Stock Price

Lowe’s Companies (NYSE:LOW) had its price target cut by Truist Financial from $310.00 to $307.00 in a report published on Thursday,Benzinga reports. They currently have a buy rating on the home improvement retailer’s stock.

Several other brokerages have also recently commented on LOW. Sanford C. Bernstein dropped their price target on shares of Lowe’s Companies from $306.00 to $301.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 20th. Wells Fargo & Company boosted their target price on shares of Lowe’s Companies from $280.00 to $295.00 and gave the stock an “overweight” rating in a report on Wednesday, November 6th. 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 report on Wednesday, August 21st. Finally, Wedbush reiterated a “neutral” rating and set a $250.00 price objective on shares of Lowe’s Companies in a research report on Thursday. Ten investment 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, Lowe’s Companies currently has a consensus rating of “Moderate Buy” and an average price target of $280.85.

Lowe’s Companies Price Performance

Shares of NYSE:LOW opened at $263.75 on Thursday. The stock has a market cap of $148.93 billion, a price-to-earnings ratio of 21.98, a PEG ratio of 2.25 and a beta of 1.09. Lowe’s Companies has a 12 month low of $209.55 and a 12 month high of $287.01. The stock’s 50 day moving average price is $270.80 and its 200 day moving average price is $248.90.

Insiders Place Their Bets

In other news, EVP Margrethe R. Vagell sold 5,730 shares of the stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $271.45, for a total transaction of $1,555,408.50. Following the transaction, the executive vice president now owns 13,214 shares in the company, valued at $3,586,940.30. This represents a 30.25 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Quonta D. Vance sold 7,198 shares of Lowe’s Companies stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $274.37, for a total transaction of $1,974,915.26. Following the completion of the sale, the executive vice president now directly owns 16,703 shares of the company’s stock, valued at approximately $4,582,802.11. The trade was a 30.12 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.26% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Pure Financial Advisors LLC boosted its position in Lowe’s Companies by 2.5% during the second 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 during the period. Blue Trust Inc. lifted its stake in shares of Lowe’s Companies by 13.8% in the second quarter. Blue Trust Inc. now owns 8,548 shares of the home improvement retailer’s stock worth $1,884,000 after buying an additional 1,039 shares during the last quarter. Gradient Investments LLC grew its stake in Lowe’s Companies by 13.1% in the 2nd quarter. Gradient Investments LLC now owns 85,363 shares of the home improvement retailer’s stock valued at $18,819,000 after buying an additional 9,920 shares during the last quarter. Everpar Advisors LLC grew its stake in Lowe’s Companies by 1.8% in the 2nd quarter. Everpar Advisors LLC now owns 4,480 shares of the home improvement retailer’s stock valued at $988,000 after buying an additional 80 shares during the last quarter. Finally, 1858 Wealth Management LLC grew its stake in Lowe’s Companies by 9.4% in the 2nd quarter. 1858 Wealth Management LLC now owns 1,163 shares of the home improvement retailer’s stock valued at $256,000 after buying an additional 100 shares during the last quarter. Institutional investors and hedge funds own 74.06% of the company’s stock.

Lowe’s Companies Company Profile

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.