Core & Main (NYSE:CNM) PT Lowered to $50.00

Core & Main (NYSE:CNM) had its price objective dropped by stock analysts at The Goldman Sachs Group from $57.00 to $50.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. The Goldman Sachs Group’s price target points to a potential upside of 31.41% from the stock’s current price.

A number of other equities analysts have also recently issued reports on CNM. Loop Capital reduced their price objective on shares of Core & Main from $64.00 to $52.00 and set a “buy” rating on the stock in a research note on Thursday. JPMorgan Chase & Co. dropped their price objective on Core & Main from $54.00 to $52.00 and set an “overweight” rating for the company in a report on Tuesday, September 3rd. Bank of America reduced their target price on Core & Main from $38.00 to $34.00 and set an “underperform” rating on the stock in a report on Thursday. Truist Financial lowered their price target on Core & Main from $50.00 to $38.00 and set a “hold” rating for the company in a research note on Thursday. Finally, Barclays reduced their price objective on shares of Core & Main from $65.00 to $57.00 and set an “overweight” rating on the stock in a research note on Thursday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $49.30.

Core & Main Trading Up 0.1 %

CNM stock opened at $38.05 on Friday. The company has a quick ratio of 1.23, a current ratio of 2.14 and a debt-to-equity ratio of 1.46. Core & Main has a twelve month low of $27.75 and a twelve month high of $62.15. The company has a market cap of $7.67 billion, a P/E ratio of 17.78, a PEG ratio of 1.82 and a beta of 1.04. The business has a fifty day moving average of $49.66 and a 200-day moving average of $52.65.

Core & Main (NYSE:CNM) last released its earnings results 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). The business had revenue of $1.96 billion for the quarter, compared to analyst estimates of $2.05 billion. Core & Main had a net margin of 5.53% and a return on equity of 20.01%. The business’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.66 earnings per share. As a group, equities research analysts expect that Core & Main will post 2.32 EPS for the current year.

Insider Activity

In related news, Director James G. Castellano sold 12,500 shares of the firm’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $52.22, for a total transaction of $652,750.00. Following the sale, the director now directly owns 11,769 shares in the company, valued at $614,577.18. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 3.49% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Rise Advisors LLC acquired a new position in Core & Main during the 1st quarter worth approximately $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 purchasing an additional 365 shares in the last quarter. ORG Partners LLC acquired a new position in Core & Main during the first quarter worth $38,000. Principal Securities Inc. acquired a new stake in Core & Main in the 4th quarter valued at $43,000. Finally, Brown Brothers Harriman & Co. bought a new stake in Core & Main during the 2nd quarter worth about $76,000. 94.19% of the stock is currently owned by institutional investors.

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.