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

Lowe’s Companies (NYSE:LOW) had its price objective increased by equities research analysts at Mizuho from $282.00 to $305.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the home improvement retailer’s stock. Mizuho’s price objective points to a potential upside of 16.28% from the company’s current price.

LOW has been the topic of several other research reports. Evercore ISI raised their target price on Lowe’s Companies from $255.00 to $270.00 and gave the stock an “in-line” rating in a research report on Wednesday, November 20th. Sanford C. Bernstein reduced their price objective on shares of Lowe’s Companies from $306.00 to $301.00 and set an “outperform” rating for the company in a research report on Wednesday, November 20th. Truist Financial upped their target price on shares of Lowe’s Companies from $307.00 to $310.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. Royal Bank of Canada lifted their price target on shares of Lowe’s Companies from $290.00 to $291.00 and gave the stock a “sector perform” rating in a research note on Wednesday, November 20th. Finally, Piper Sandler upped their price objective on shares of Lowe’s Companies from $262.00 to $307.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. Ten investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $280.85.

Lowe’s Companies Price Performance

NYSE:LOW opened at $262.30 on Thursday. Lowe’s Companies has a 12 month low of $209.55 and a 12 month high of $287.01. The firm has a market capitalization of $148.11 billion, a PE ratio of 21.88, a price-to-earnings-growth ratio of 2.25 and a beta of 1.09. The business’s fifty day moving average price is $270.69 and its 200 day moving average price is $249.22.

Insiders Place Their Bets

In other Lowe’s Companies news, EVP Margrethe R. Vagell sold 5,730 shares of the company’s stock in a transaction dated 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 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Quonta D. Vance sold 7,198 shares of Lowe’s Companies stock in a transaction that occurred 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 sale, 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 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 and hedge funds have recently modified their holdings of the company. StoneX Group Inc. acquired a new stake in Lowe’s Companies in the third quarter valued at $2,713,000. HM Payson & Co. grew its stake in Lowe’s Companies by 1.1% in the 3rd quarter. HM Payson & Co. now owns 215,651 shares of the home improvement retailer’s stock valued at $58,409,000 after acquiring an additional 2,322 shares during the last quarter. Weiss Asset Management LP acquired a new stake in Lowe’s Companies in the 3rd quarter valued at about $16,143,000. Daymark Wealth Partners LLC raised its position in Lowe’s Companies by 12.7% during the second quarter. Daymark Wealth Partners LLC now owns 25,569 shares of the home improvement retailer’s stock worth $5,637,000 after acquiring an additional 2,889 shares during the last quarter. Finally, Erste Asset Management GmbH acquired a new position in Lowe’s Companies during the third quarter worth about $5,976,000. 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.