Lowe’s Companies (NYSE:LOW) Rating Lowered to “Hold” at StockNews.com

Lowe’s Companies (NYSE:LOW) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Thursday.

A number of other brokerages have also commented on LOW. Piper Sandler lifted their price objective 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. Wells Fargo & Company increased their price objective on shares of Lowe’s Companies from $280.00 to $295.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. DA Davidson lifted 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. Loop Capital upgraded Lowe’s Companies from a “hold” rating to a “buy” rating and raised their price target for the stock from $250.00 to $300.00 in a research report on Wednesday, October 9th. Finally, TD Cowen lifted their price objective on Lowe’s Companies from $270.00 to $290.00 and gave the stock a “hold” rating in a research note on Monday, October 28th. Eleven equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $280.85.

Lowe’s Companies Stock Performance

Shares of LOW opened at $247.78 on Thursday. The firm has a market capitalization of $139.91 billion, a price-to-earnings ratio of 20.67, a PEG ratio of 2.20 and a beta of 1.11. Lowe’s Companies has a 52 week low of $209.55 and a 52 week high of $287.01. The business’s fifty day moving average price is $261.23 and its two-hundred day moving average price is $253.01.

Insider Buying and Selling

In related news, EVP Quonta D. Vance sold 7,198 shares of the stock in a transaction that occurred 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 directly owns 16,703 shares of the company’s stock, valued at approximately $4,582,802.11. This represents a 30.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.26% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Lowe’s Companies

A number of institutional investors have recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC bought a new position in Lowe’s Companies during the third quarter worth about $27,000. JNBA Financial Advisors boosted its stake in shares of Lowe’s Companies by 555.6% during the 3rd quarter. JNBA Financial Advisors now owns 118 shares of the home improvement retailer’s stock worth $32,000 after acquiring an additional 100 shares during the period. MFA Wealth Advisors LLC boosted its stake in shares of Lowe’s Companies by 118.6% during the 3rd quarter. MFA Wealth Advisors LLC now owns 129 shares of the home improvement retailer’s stock worth $35,000 after acquiring an additional 70 shares during the period. Kimelman & Baird LLC acquired a new position in shares of Lowe’s Companies during the 2nd quarter worth approximately $37,000. Finally, Tsfg LLC raised its stake in Lowe’s Companies by 128.2% in the 3rd quarter. Tsfg LLC now owns 178 shares of the home improvement retailer’s stock valued at $48,000 after acquiring an additional 100 shares during the period. 74.06% of the stock is currently owned by institutional investors and hedge funds.

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.