Wedbush Reiterates Neutral Rating for Lowe's Companies (NYSE:LOW)

Wedbush restated their neutral rating on shares of Lowe's Companies (NYSE:LOW - Free Report) in a research note published on Thursday morning,Benzinga reports. The firm currently has a $250.00 target price on the home improvement retailer's stock.

A number of other equities research analysts have also weighed in on the company. Loop Capital raised Lowe's Companies from a "hold" rating to a "buy" rating and boosted their target price for the company from $250.00 to $300.00 in a research note on Wednesday, October 9th. Barclays boosted their price objective on Lowe's Companies from $229.00 to $245.00 and gave the company an "equal weight" rating in a research report on Wednesday, November 20th. Oppenheimer upgraded shares of Lowe's Companies from a "market perform" rating to an "outperform" rating and raised their target price for the stock from $230.00 to $305.00 in a report on Tuesday, September 24th. Mizuho upped their price target on shares of Lowe's Companies from $280.00 to $282.00 and gave the company an "outperform" rating in a report on Wednesday, November 20th. Finally, Piper Sandler increased their price target on shares of Lowe's Companies from $262.00 to $307.00 and gave the company an "overweight" rating in a research report on Monday, September 30th. Ten equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $280.85.

Lowe's Companies Price Performance

NYSE LOW traded down $4.40 on Thursday, reaching $263.50. 2,389,385 shares of the company's stock traded hands, compared to its average volume of 2,443,781. The stock has a market cap of $148.79 billion, a PE ratio of 22.01, a P/E/G ratio of 2.29 and a beta of 1.09. Lowe's Companies has a 12 month low of $206.08 and a 12 month high of $287.01. The stock has a 50-day simple moving average of $270.94 and a 200 day simple moving average of $248.80.

Insider Buying and Selling

In other news, EVP Quonta D. Vance sold 7,198 shares of the 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 sale, 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Margrethe R. Vagell sold 5,730 shares of the 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 completion of the sale, the executive vice president now directly owns 13,214 shares in the company, valued at approximately $3,586,940.30. This represents a 30.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Lowe's Companies

Institutional investors have recently made changes to their positions in the company. FMR LLC grew its stake in shares of Lowe's Companies by 10.2% in the third quarter. FMR LLC now owns 26,010,730 shares of the home improvement retailer's stock worth $7,045,006,000 after acquiring an additional 2,399,897 shares during the period. International Assets Investment Management LLC raised its stake in Lowe's Companies by 1,889.7% during the 3rd 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 during the last quarter. Strategic Financial Concepts LLC lifted its holdings in shares of Lowe's Companies by 20,275.6% during the 2nd 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 during the period. Applied Finance Capital Management LLC boosted its stake in shares of Lowe's Companies by 387.7% in the 3rd quarter. Applied Finance Capital Management LLC now owns 811,374 shares of the home improvement retailer's stock worth $219,761,000 after buying an additional 645,017 shares during the last quarter. Finally, Marshall Wace LLP grew its holdings in shares of Lowe's Companies by 170.5% in the second quarter. Marshall Wace LLP now owns 735,633 shares of the home improvement retailer's stock worth $162,178,000 after acquiring an additional 463,645 shares during the period. 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.