Core & Main (NYSE:CNM) PT Lowered to $53.00

Core & Main (NYSE:CNM) had its price target lowered by stock analysts at Robert W. Baird from $62.00 to $53.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Robert W. Baird’s price objective indicates a potential upside of 39.40% from the company’s current price.

Several other equities research analysts have also commented on CNM. Royal Bank of Canada restated an “outperform” rating and issued a $60.00 price objective on shares of Core & Main in a research note on Wednesday, June 5th. Truist Financial reduced their price target on Core & Main from $56.00 to $50.00 and set a “hold” rating for the company in a research report on Wednesday, June 5th. Finally, JPMorgan Chase & Co. decreased their price objective on Core & Main from $54.00 to $52.00 and set an “overweight” rating on the stock in a research note on Tuesday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $47.82.

Core & Main Trading Up 0.1 %

Shares of NYSE:CNM opened at $38.02 on Thursday. Core & Main has a 52-week low of $27.75 and a 52-week high of $62.15. The stock has a market capitalization of $7.66 billion, a price-to-earnings ratio of 17.77, a PEG ratio of 1.82 and a beta of 1.04. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.23 and a current ratio of 2.14. The stock’s 50-day simple moving average is $49.66 and its two-hundred day simple moving average is $52.59.

Core & Main (NYSE:CNM) last posted its quarterly earnings data on Wednesday, September 4th. The company reported $0.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.13). Core & Main had a return on equity of 20.01% and a net margin of 5.53%. The business had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $2.05 billion. During the same period in the previous year, the business posted $0.66 EPS. The business’s quarterly revenue was up 5.5% compared to the same quarter last year. Analysts expect that Core & Main will post 2.32 EPS for the current year.

Insider Transactions at Core & Main

In related news, Director James G. Castellano sold 12,500 shares of Core & Main stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $52.22, for a total transaction of $652,750.00. Following the sale, the director now owns 11,769 shares of the company’s stock, valued at approximately $614,577.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 3.49% of the company’s stock.

Hedge Funds Weigh In On Core & Main

A number of hedge funds and other institutional investors have recently modified their holdings of CNM. Rise Advisors LLC purchased a new stake in Core & Main in the 1st quarter worth $27,000. Quadrant Capital Group LLC lifted its position in shares of Core & Main by 74.5% in the fourth quarter. Quadrant Capital Group LLC now owns 855 shares of the company’s stock worth $35,000 after buying an additional 365 shares in the last quarter. ORG Partners LLC bought a new position in Core & Main during the first quarter valued at approximately $38,000. Principal Securities Inc. purchased a new position in Core & Main during the 4th quarter valued at approximately $43,000. Finally, Brown Brothers Harriman & Co. bought a new stake in Core & Main in the 2nd quarter worth approximately $76,000. Institutional investors own 94.19% of the company’s stock.

Core & Main Company Profile

Core & Main, Inc distributes water, wastewater, storm drainage, and fire protection products and related services to municipalities, private water companies, and professional contractors in the municipal, non-residential, and residential end markets in the United States. Its products portfolio include pipes, valves, hydrants, fittings, and other products and services; storm drainage products, such as corrugated piping systems, retention basins, inline drains, manholes, grates, geosynthetics, erosion control, and other related products; fire protection products, including fire protection pipes, and sprinkler heads and devices, as well as fabrication services; and meter products, such as smart meter products, meter sets, meter accessories, installation, software, and other services.