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

Lowe’s Companies (NYSE:LOW) had its price objective boosted by analysts at Mizuho from $280.00 to $282.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the home improvement retailer’s stock. Mizuho’s target price would suggest a potential upside of 6.21% from the stock’s current price.

A number of other research analysts have also weighed in on the company. Royal Bank of Canada raised their price objective on Lowe’s Companies from $290.00 to $291.00 and gave the company a “sector perform” rating in a research report on Wednesday. Oppenheimer raised Lowe’s Companies from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $230.00 to $305.00 in a report on Tuesday, September 24th. Piper Sandler upped their price objective on Lowe’s Companies from $262.00 to $307.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. Evercore ISI upped their price objective on Lowe’s Companies from $225.00 to $250.00 and gave the company an “in-line” rating in a research report on Wednesday, August 21st. Finally, Sanford C. Bernstein assumed coverage on Lowe’s Companies in a report on Tuesday, October 22nd. They issued an “outperform” rating and a $323.00 price target on the stock. Ten investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $277.92.

Lowe’s Companies Stock Up 0.9 %

Shares of NYSE:LOW opened at $265.50 on Wednesday. The business’s 50 day moving average is $268.56 and its 200 day moving average is $244.50. Lowe’s Companies has a 12-month low of $196.23 and a 12-month high of $287.01. The stock has a market cap of $150.62 billion, a price-to-earnings ratio of 22.14, a PEG ratio of 2.15 and a beta of 1.10.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings data on Tuesday, August 20th. The home improvement retailer reported $4.10 EPS for the quarter, beating the consensus estimate of $3.96 by $0.14. The firm had revenue of $23.59 billion for the quarter, compared to analyst estimates of $23.93 billion. Lowe’s Companies had a negative return on equity of 47.55% and a net margin of 8.19%. The company’s revenue was down 5.5% on a year-over-year basis. During the same period in the prior year, the company earned $4.56 EPS. As a group, equities research analysts expect that Lowe’s Companies will post 11.82 earnings per share for the current year.

Insider Buying and Selling at Lowe’s Companies

In related news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of Lowe’s Companies stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $248.82, for a total transaction of $1,684,262.58. Following the sale, the chief accounting officer now owns 9,383 shares of the company’s stock, valued at approximately $2,334,678.06. This trade represents a 41.91 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Margrethe R. Vagell sold 5,730 shares of the business’s stock in a transaction on 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 transaction, the executive vice president now owns 13,214 shares of the company’s stock, valued at approximately $3,586,940.30. The trade was a 30.25 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.26% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of LOW. Legacy Investment Solutions LLC purchased a new position in shares of Lowe’s Companies in the third quarter valued at approximately $27,000. Stephens Consulting LLC lifted its holdings in Lowe’s Companies by 93.3% during the 2nd quarter. Stephens Consulting LLC now owns 145 shares of the home improvement retailer’s stock worth $32,000 after buying an additional 70 shares during the last quarter. JNBA Financial Advisors increased its position in Lowe’s Companies by 555.6% in the 3rd quarter. JNBA Financial Advisors now owns 118 shares of the home improvement retailer’s stock valued at $32,000 after acquiring an additional 100 shares during the period. MFA Wealth Advisors LLC increased its position in 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 purchasing an additional 70 shares during the period. Finally, Kimelman & Baird LLC purchased a new stake in Lowe’s Companies in the 2nd quarter valued at approximately $37,000. 74.06% of the stock is owned by institutional investors and hedge funds.

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.