Core & Main, Inc. (NYSE:CNM) Receives $49.55 Average Price Target from Analysts

Shares of Core & Main, Inc. (NYSE:CNM) have earned a consensus rating of “Moderate Buy” from the ten brokerages that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $50.50.

A number of research firms recently issued reports on CNM. Robert W. Baird decreased their price objective on Core & Main from $62.00 to $53.00 and set an “outperform” rating for the company in a report on Thursday, September 5th. The Goldman Sachs Group decreased their price objective on Core & Main from $57.00 to $50.00 and set a “neutral” rating for the company in a report on Friday, September 6th. Wells Fargo & Company assumed coverage on Core & Main in a research note on Monday, September 23rd. They issued an “overweight” rating and a $52.00 price target for the company. Truist Financial decreased 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, September 5th. Finally, Bank of America decreased their price target on Core & Main from $38.00 to $34.00 and set an “underperform” rating for the company in a research note on Thursday, September 5th.

Core & Main Stock Up 0.6 %

NYSE:CNM opened at $44.05 on Thursday. Core & Main has a 1 year low of $29.13 and a 1 year high of $62.15. The company has a current ratio of 2.29, a quick ratio of 1.34 and a debt-to-equity ratio of 1.40. The stock has a market cap of $8.86 billion, a price-to-earnings ratio of 21.08, a PEG ratio of 2.83 and a beta of 1.02. The stock has a 50-day moving average price of $45.58 and a two-hundred day moving average price of $51.29.

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). The firm had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $2.05 billion. Core & Main had a return on equity of 21.91% and a net margin of 5.58%. The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.66 earnings per share. As a group, equities analysts expect that Core & Main will post 2.1 earnings per share for the current year.

Insider Activity

In other news, Director James G. Castellano sold 12,500 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $52.22, for a total value of $652,750.00. Following the completion of the sale, the director now directly owns 11,769 shares of the company’s stock, valued at $614,577.18. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 3.49% of the company’s stock.

Institutional Trading of Core & Main

Hedge funds have recently added to or reduced their stakes in the company. Rise Advisors LLC acquired a new stake in Core & Main during the 1st quarter worth approximately $27,000. ORG Wealth Partners LLC acquired a new stake in Core & Main during the 3rd quarter worth approximately $31,000. ORG Partners LLC acquired a new stake in Core & Main during the 1st quarter worth approximately $38,000. GAMMA Investing LLC raised its holdings in Core & Main by 61.1% in the 3rd quarter. GAMMA Investing LLC now owns 1,348 shares of the company’s stock valued at $60,000 after acquiring an additional 511 shares in the last quarter. Finally, Brown Brothers Harriman & Co. acquired a new position in Core & Main in the 2nd quarter valued at $76,000. 94.19% of the stock is owned by institutional investors and hedge funds.

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.