Analysts Set Core & Main, Inc. (NYSE:CNM) PT at $51.20

Shares of Core & Main, Inc. (NYSE:CNM) have been given a consensus rating of “Moderate Buy” by the ten brokerages that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $51.20.

A number of equities research analysts recently commented on CNM shares. Barclays decreased their price target on Core & Main from $65.00 to $57.00 and set an “overweight” rating on the stock in a research report on Thursday, September 5th. Bank of America lowered their target price 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. Wells Fargo & Company initiated coverage on Core & Main in a report on Monday, September 23rd. They issued an “overweight” rating and a $52.00 price target for the company. Truist Financial decreased their price objective on shares of Core & Main from $50.00 to $38.00 and set a “hold” rating on the stock in a report on Thursday, September 5th. Finally, Loop Capital dropped their target price 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.

Hedge Funds Weigh In On Core & Main

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Ashton Thomas Securities LLC bought a new position in Core & Main during the third quarter worth about $26,000. ORG Wealth Partners LLC acquired a new stake in shares of Core & Main in the 3rd quarter valued at approximately $31,000. Wilmington Savings Fund Society FSB bought a new position in Core & Main during the 3rd quarter worth approximately $49,000. GAMMA Investing LLC grew its holdings in Core & Main by 61.1% during the third quarter. GAMMA Investing LLC now owns 1,348 shares of the company’s stock valued at $60,000 after purchasing an additional 511 shares during the period. Finally, Brown Brothers Harriman & Co. acquired a new position in Core & Main during the second quarter valued at approximately $76,000. 94.19% of the stock is owned by institutional investors.

Core & Main Stock Up 3.1 %

Shares of NYSE CNM opened at $48.55 on Friday. Core & Main has a 52-week low of $34.32 and a 52-week high of $62.15. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.34 and a current ratio of 2.29. The business has a fifty day moving average of $44.72 and a two-hundred day moving average of $48.27. The stock has a market cap of $9.76 billion, a PE ratio of 23.23, a PEG ratio of 3.16 and a beta of 1.02.

Core & Main (NYSE:CNM) last announced its quarterly earnings results on Wednesday, September 4th. The company reported $0.61 earnings per share (EPS) for the quarter, missing the consensus estimate 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 net margin of 5.58% and a return on equity of 21.91%. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.66 earnings per share. As a group, equities research analysts expect that Core & Main will post 2.1 earnings per share for the current fiscal year.

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.