Core & Main (NYSE:CNM) Price Target Lowered to $52.00 at Loop Capital

Core & Main (NYSE:CNM) had its price objective lowered by Loop Capital from $64.00 to $52.00 in a research report sent to investors on Thursday, Benzinga reports. Loop Capital currently has a buy rating on the stock.

A number of other research firms have also recently weighed in on CNM. Robert W. Baird lowered their target price on shares of Core & Main from $62.00 to $53.00 and set an outperform rating on the stock in a research note on Thursday. JPMorgan Chase & Co. dropped their target price on Core & Main from $54.00 to $52.00 and set an overweight rating for the company in a report on Tuesday. Barclays cut their target price on Core & Main from $65.00 to $57.00 and set an overweight rating for the company in a research report on Thursday. Bank of America dropped their price objective on Core & Main from $38.00 to $34.00 and set an underperform rating for the company in a research note on Thursday. Finally, Truist Financial reduced their target price on shares of Core & Main from $50.00 to $38.00 and set a hold rating on the stock in a research note on Thursday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Core & Main has an average rating of Moderate Buy and an average target price of $48.82.

Core & Main Trading Down 3.6 %

Core & Main stock opened at $37.99 on Thursday. The business has a 50 day moving average price of $49.88 and a two-hundred day moving average price of $52.64. 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 12 month low of $27.75 and a 12 month high of $62.15. The stock has a market cap of $7.65 billion, a price-to-earnings ratio of 17.75, a price-to-earnings-growth ratio of 1.82 and a beta of 1.06.

Core & Main (NYSE:CNM) last issued its earnings results on Wednesday, September 4th. The company reported $0.61 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.13). Core & Main had a net margin of 5.53% and a return on equity of 20.01%. The firm had revenue of $1.96 billion during the quarter, compared to analyst estimates of $2.05 billion. During the same quarter in the previous year, the company posted $0.66 earnings per share. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. As a group, equities analysts forecast that Core & Main will post 2.32 EPS for the current year.

Insider Buying and Selling

In other Core & Main news, Director James G. Castellano sold 12,500 shares of the firm’s stock in a transaction dated Monday, July 15th. The shares were 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 owns 11,769 shares in the company, valued at approximately $614,577.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.49% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Core & Main

A number of large investors have recently modified their holdings of CNM. Rise Advisors LLC bought a new position in Core & Main in the 1st quarter worth approximately $27,000. Quadrant Capital Group LLC raised its position in shares of Core & Main by 74.5% during the fourth quarter. Quadrant Capital Group LLC now owns 855 shares of the company’s stock worth $35,000 after acquiring an additional 365 shares during the last quarter. ORG Partners LLC acquired a new position in shares of Core & Main during the first quarter valued at $38,000. Principal Securities Inc. acquired a new position in shares of Core & Main during the fourth quarter valued at $43,000. Finally, Brown Brothers Harriman & Co. bought a new position in Core & Main in the second quarter valued at about $76,000. 94.19% of the stock is currently owned by institutional investors and hedge funds.

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.