Core & Main (NYSE:CNM) Given New $65.00 Price Target at Robert W. Baird

Core & Main (NYSE:CNM) had its target price cut by Robert W. Baird from $66.00 to $65.00 in a research note issued to investors on Wednesday,Benzinga reports. They currently have an outperform rating on the stock.

A number of other analysts have also issued reports on CNM. Citigroup raised their price target on Core & Main from $43.00 to $56.00 and gave the stock a “neutral” rating in a research note on Monday, January 6th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $62.00 price target (up previously from $53.00) on shares of Core & Main in a research report on Wednesday, December 4th. Truist Financial lifted their price target on shares of Core & Main from $38.00 to $56.00 and gave the company a “hold” rating in a report on Wednesday, December 4th. Loop Capital boosted their price objective on shares of Core & Main from $52.00 to $63.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Finally, Barclays boosted their price target on Core & Main from $57.00 to $65.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Core & Main has a consensus rating of “Moderate Buy” and an average target price of $57.30.

Core & Main Price Performance

Core & Main stock opened at $49.50 on Wednesday. The stock has a market capitalization of $9.83 billion, a P/E ratio of 23.24, a P/E/G ratio of 2.61 and a beta of 1.05. Core & Main has a 12-month low of $37.22 and a 12-month high of $62.15. The company has a debt-to-equity ratio of 1.36, a current ratio of 2.14 and a quick ratio of 1.28. The firm’s 50-day moving average is $52.10 and its two-hundred day moving average is $48.73.

Core & Main (NYSE:CNM) last released its earnings results on Tuesday, March 25th. The company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.03). Core & Main had a return on equity of 24.71% and a net margin of 5.71%. The firm had revenue of $1.70 billion during the quarter, compared to analysts’ expectations of $1.67 billion. During the same period in the previous year, the firm posted $0.34 earnings per share. The firm’s revenue was up 17.9% on a year-over-year basis. Equities analysts predict that Core & Main will post 2.16 earnings per share for the current year.

Insider Activity at Core & Main

In other news, General Counsel Mark G. Whittenburg sold 50,000 shares of Core & Main stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $50.49, for a total transaction of $2,524,500.00. Following the sale, the general counsel now directly owns 7,667 shares of the company’s stock, valued at approximately $387,106.83. The trade was a 86.70 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP John R. Schaller sold 60,452 shares of the stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $50.57, for a total value of $3,057,057.64. Following the completion of the transaction, the executive vice president now directly owns 17,898 shares of the company’s stock, valued at $905,101.86. This represents a 77.16 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 184,294 shares of company stock worth $9,383,685. 3.49% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Avior Wealth Management LLC raised its stake in shares of Core & Main by 51.3% in the 4th quarter. Avior Wealth Management LLC now owns 799 shares of the company’s stock valued at $41,000 after purchasing an additional 271 shares in the last quarter. UMB Bank n.a. lifted its holdings in Core & Main by 246.0% during the 4th quarter. UMB Bank n.a. now owns 962 shares of the company’s stock worth $49,000 after buying an additional 684 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Core & Main in the 3rd quarter worth approximately $49,000. Quadrant Capital Group LLC increased its holdings in shares of Core & Main by 30.1% in the 4th quarter. Quadrant Capital Group LLC now owns 1,203 shares of the company’s stock valued at $61,000 after acquiring an additional 278 shares during the last quarter. Finally, Blue Trust Inc. raised its position in shares of Core & Main by 187.4% during the 4th quarter. Blue Trust Inc. now owns 1,273 shares of the company’s stock valued at $65,000 after acquiring an additional 830 shares in the last quarter. 94.19% of the stock is owned by institutional investors and hedge funds.

Core & Main Company Profile

Core & Main, Inc is a specialty distributor focused on water, wastewater, storm drainage and fire protection products, and related services. The company provides infrastructure solutions to municipalities, private water companies and professional contractors across municipal, non-residential, and residential end markets, nationwide.