Truist Financial Forecasts Strong Price Appreciation for Lowe’s Companies (NYSE:LOW) Stock

Lowe’s Companies (NYSE:LOW) had its price objective hoisted by Truist Financial from $307.00 to $308.00 in a research note published on Tuesday,Benzinga reports. They currently have a buy rating on the home improvement retailer’s stock.

LOW has been the topic of a number of other research reports. StockNews.com raised Lowe’s Companies from a “hold” rating to a “buy” rating in a research report on Friday, January 17th. Sanford C. Bernstein lifted their target price on Lowe’s Companies from $301.00 to $304.00 and gave the company an “outperform” rating in a research report on Thursday, December 12th. DA Davidson lifted their target price on Lowe’s Companies from $240.00 to $270.00 and gave the company a “neutral” rating in a research report on Wednesday, November 20th. Evercore ISI lifted their target price on Lowe’s Companies from $270.00 to $290.00 and gave the company an “in-line” rating in a research report on Thursday, December 12th. Finally, Royal Bank of Canada boosted their price target on Lowe’s Companies from $291.00 to $292.00 and gave the stock a “sector perform” rating in a research report on Thursday, December 12th. Ten equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $281.64.

Lowe’s Companies Price Performance

NYSE:LOW opened at $252.77 on Tuesday. Lowe’s Companies has a fifty-two week low of $211.80 and a fifty-two week high of $287.01. The stock has a market capitalization of $142.73 billion, a PE ratio of 21.08, a price-to-earnings-growth ratio of 2.04 and a beta of 1.11. The business’s 50-day simple moving average is $256.15 and its 200-day simple moving average is $258.33.

Insider Activity

In other news, EVP Quonta D. Vance sold 7,198 shares of the business’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $274.37, for a total transaction of $1,974,915.26. Following the completion of the transaction, the executive vice president now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.26% of the company’s stock.

Hedge Funds Weigh In On Lowe’s Companies

A number of institutional investors have recently modified their holdings of LOW. AMF Tjanstepension AB raised its holdings in shares of Lowe’s Companies by 14.4% during the 3rd quarter. AMF Tjanstepension AB now owns 159,742 shares of the home improvement retailer’s stock worth $43,290,000 after buying an additional 20,123 shares in the last quarter. Wesbanco Bank Inc. raised its holdings in shares of Lowe’s Companies by 17.9% during the 3rd quarter. Wesbanco Bank Inc. now owns 57,232 shares of the home improvement retailer’s stock worth $15,501,000 after buying an additional 8,683 shares in the last quarter. Creative Planning raised its holdings in shares of Lowe’s Companies by 9.0% during the 3rd quarter. Creative Planning now owns 222,818 shares of the home improvement retailer’s stock worth $59,002,000 after buying an additional 18,383 shares in the last quarter. Iams Wealth Management LLC increased its holdings in Lowe’s Companies by 39.4% in the 3rd quarter. Iams Wealth Management LLC now owns 1,529 shares of the home improvement retailer’s stock worth $414,000 after purchasing an additional 432 shares in the last quarter. Finally, Arkfeld Wealth Strategies L.L.C. increased its holdings in Lowe’s Companies by 5.5% in the 3rd quarter. Arkfeld Wealth Strategies L.L.C. now owns 1,506 shares of the home improvement retailer’s stock worth $403,000 after purchasing an additional 78 shares in the last quarter. Institutional investors and hedge funds 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.