Core & Main (NYSE:CNM) Given New $53.00 Price Target at Robert W. Baird

Core & Main (NYSE:CNM) had its target price trimmed by Robert W. Baird from $62.00 to $53.00 in a research note released on Thursday morning, Benzinga reports. The firm currently has an outperform rating on the stock.

A number of other research analysts have also weighed in on CNM. Royal Bank of Canada reissued an outperform rating and issued a $60.00 target price on shares of Core & Main in a research note on Wednesday, June 5th. Truist Financial lowered their price objective on Core & Main from $56.00 to $50.00 and set a hold rating on the stock in a research note on Wednesday, June 5th. Finally, JPMorgan Chase & Co. cut their target price on Core & Main from $54.00 to $52.00 and set an overweight rating for the company in a research note on Tuesday. One 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’s stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of $48.82.

Core & Main Trading Down 3.6 %

CNM stock opened at $37.99 on Thursday. Core & Main has a 12-month low of $27.75 and a 12-month high of $62.15. The business’s 50-day moving average is $49.88 and its 200 day moving average is $52.64. The company has a current ratio of 2.14, a quick ratio of 1.23 and a debt-to-equity ratio of 1.46. The stock has a market cap of $7.65 billion, a price-to-earnings ratio of 17.75, a PEG ratio of 1.82 and a beta of 1.06.

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 analysts’ expectations of $2.05 billion. Core & Main had a return on equity of 20.01% and a net margin of 5.53%. Core & Main’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.66 EPS. On average, sell-side analysts anticipate that Core & Main will post 2.32 EPS for the current fiscal year.

Insider Buying and Selling at Core & Main

In other Core & Main news, Director James G. Castellano sold 12,500 shares of Core & Main stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $52.22, for a total transaction of $652,750.00. Following the completion of 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 through this hyperlink. 3.49% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Core & Main

A number of hedge funds have recently made changes to their positions in CNM. Truist Financial Corp lifted its stake in Core & Main by 137.0% during the fourth quarter. Truist Financial Corp now owns 31,347 shares of the company’s stock worth $1,267,000 after purchasing an additional 18,120 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in Core & Main by 300.1% during the 4th quarter. Russell Investments Group Ltd. now owns 94,155 shares of the company’s stock worth $3,813,000 after acquiring an additional 70,621 shares in the last quarter. Swiss National Bank boosted its holdings in Core & Main by 5.8% during the 4th quarter. Swiss National Bank now owns 261,500 shares of the company’s stock valued at $10,567,000 after acquiring an additional 14,400 shares during the period. Amalgamated Bank boosted its holdings in Core & Main by 427.2% during the 4th quarter. Amalgamated Bank now owns 103,003 shares of the company’s stock valued at $4,162,000 after acquiring an additional 83,465 shares during the period. Finally, National Bank of Canada FI grew its position in Core & Main by 8.3% in the 4th quarter. National Bank of Canada FI now owns 13,000 shares of the company’s stock valued at $515,000 after acquiring an additional 999 shares in the last quarter. Hedge funds and other institutional investors own 94.19% of the company’s stock.

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.