Core & Main, Inc. (NYSE:CNM) Receives $51.20 Average Target Price from Analysts

Core & Main, Inc. (NYSE:CNM) has received a consensus rating of “Moderate Buy” from the ten brokerages that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and six have issued a buy recommendation on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $51.20.

A number of analysts have recently commented on CNM shares. Barclays cut their price target on Core & Main from $65.00 to $57.00 and set an “overweight” rating on the stock in a report on Thursday, September 5th. Robert W. Baird boosted their target price on Core & Main from $53.00 to $60.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Loop Capital decreased their price target on shares of Core & Main from $64.00 to $52.00 and set a “buy” rating for the company in a research note on Thursday, September 5th. Wells Fargo & Company initiated coverage on shares of Core & Main in a research report on Monday, September 23rd. They issued an “overweight” rating and a $52.00 price objective on the stock. Finally, Royal Bank of Canada decreased their target price on shares of Core & Main from $60.00 to $53.00 and set an “outperform” rating for the company in a research report on Thursday, September 5th.

Core & Main Stock Performance

Shares of CNM stock opened at $48.55 on Friday. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.34 and a current ratio of 2.29. Core & Main has a 52 week low of $34.32 and a 52 week high of $62.15. The company’s 50 day moving average price is $44.72 and its two-hundred day moving average price is $48.27. The company has a market capitalization of $9.76 billion, a P/E ratio of 23.23, a price-to-earnings-growth ratio of 3.16 and a beta of 1.02.

Core & Main (NYSE:CNM) last issued its quarterly earnings data on Wednesday, September 4th. The company reported $0.61 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.13). The company had revenue of $1.96 billion for the quarter, compared to analyst estimates of $2.05 billion. Core & Main had a return on equity of 21.91% and a net margin of 5.58%. The company’s revenue was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.66 earnings per share. On average, analysts expect that Core & Main will post 2.1 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of CNM. Rhumbline Advisers raised its stake in Core & Main by 6.2% in the 2nd quarter. Rhumbline Advisers now owns 508,554 shares of the company’s stock valued at $24,889,000 after acquiring an additional 29,490 shares during the period. Comerica Bank raised its position in shares of Core & Main by 30.9% in the first quarter. Comerica Bank now owns 67,754 shares of the company’s stock valued at $3,879,000 after purchasing an additional 16,009 shares during the period. Eagle Asset Management Inc. lifted its stake in shares of Core & Main by 2.6% during the 3rd quarter. Eagle Asset Management Inc. now owns 1,720,496 shares of the company’s stock worth $74,979,000 after buying an additional 44,282 shares during the last quarter. SG Americas Securities LLC boosted its holdings in shares of Core & Main by 542.1% during the 2nd quarter. SG Americas Securities LLC now owns 39,415 shares of the company’s stock worth $1,929,000 after buying an additional 33,277 shares during the period. Finally, Quest Partners LLC grew its stake in Core & Main by 1,195,600.0% in the 3rd quarter. Quest Partners LLC now owns 11,957 shares of the company’s stock valued at $531,000 after buying an additional 11,956 shares during the last quarter. Institutional investors own 94.19% of the company’s stock.

About Core & Main

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.