Sanford C. Bernstein Issues Positive Forecast for Lowe’s Companies (NYSE:LOW) Stock Price

Lowe’s Companies (NYSE:LOW) had its target price boosted by Sanford C. Bernstein from $301.00 to $304.00 in a research note released on Thursday morning,Benzinga reports. The brokerage currently has an outperform rating on the home improvement retailer’s stock.

A number of other equities analysts also recently weighed in on the company. Telsey Advisory Group reaffirmed an “outperform” rating and set a $305.00 price target on shares of Lowe’s Companies in a research report on Thursday. UBS Group increased their price objective on Lowe’s Companies from $270.00 to $290.00 and gave the company a “buy” rating in a report on Wednesday, August 21st. Royal Bank of Canada increased their price objective on Lowe’s Companies from $291.00 to $292.00 and gave the company a “sector perform” rating in a report on Thursday. Morgan Stanley increased their price objective on Lowe’s Companies from $250.00 to $255.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Finally, Stifel Nicolaus increased their price objective on Lowe’s Companies from $265.00 to $270.00 and gave the company a “hold” rating in a report on Wednesday. Ten research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $280.85.

Lowe’s Companies Stock Down 1.6 %

NYSE:LOW opened at $263.50 on Thursday. Lowe’s Companies has a twelve month low of $206.08 and a twelve month high of $287.01. The business has a 50 day moving average price of $270.80 and a two-hundred day moving average price of $248.90. The company has a market cap of $148.79 billion, a P/E ratio of 21.98, a price-to-earnings-growth ratio of 2.25 and a beta of 1.09.

Insider Activity at Lowe’s Companies

In other news, EVP Quonta D. Vance sold 7,198 shares of Lowe’s Companies stock in a transaction dated 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 sale, the executive vice president now directly owns 16,703 shares of the company’s stock, valued at approximately $4,582,802.11. This trade represents a 30.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Margrethe R. Vagell sold 5,730 shares of Lowe’s Companies stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $271.45, for a total value of $1,555,408.50. Following the sale, the executive vice president now directly owns 13,214 shares in the company, valued at $3,586,940.30. The trade was 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.

Hedge Funds Weigh In On Lowe’s Companies

Hedge funds have recently made changes to their positions in the stock. Legacy Investment Solutions LLC bought a new position in shares of Lowe’s Companies during the third quarter worth about $27,000. Stephens Consulting LLC increased its holdings in Lowe’s Companies by 93.3% in the second quarter. Stephens Consulting LLC now owns 145 shares of the home improvement retailer’s stock worth $32,000 after purchasing an additional 70 shares in the last quarter. JNBA Financial Advisors increased its holdings in Lowe’s Companies by 555.6% in the third quarter. JNBA Financial Advisors now owns 118 shares of the home improvement retailer’s stock worth $32,000 after purchasing an additional 100 shares in the last quarter. MFA Wealth Advisors LLC increased its holdings in Lowe’s Companies by 118.6% in the third quarter. MFA Wealth Advisors LLC now owns 129 shares of the home improvement retailer’s stock worth $35,000 after purchasing an additional 70 shares in the last quarter. Finally, Kimelman & Baird LLC bought a new stake in Lowe’s Companies in the second quarter worth approximately $37,000. 74.06% of the stock is currently owned by institutional investors.

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.