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

Core & Main, Inc. (NYSE:CNM) has been assigned a consensus rating of “Moderate Buy” from the ten analysts that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $51.20.

CNM has been the subject of several analyst reports. Loop Capital lowered their target price on Core & Main from $64.00 to $52.00 and set a “buy” rating for the company in a research note on Thursday, September 5th. Wells Fargo & Company initiated coverage on Core & Main in a research note on Monday, September 23rd. They set an “overweight” rating and a $52.00 target price for the company. The Goldman Sachs Group lowered their target price on Core & Main from $57.00 to $50.00 and set a “neutral” rating for the company in a research note on Friday, September 6th. JPMorgan Chase & Co. lowered 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, September 3rd. Finally, Truist Financial lowered their target price 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.

Core & Main Trading Down 5.2 %

Shares of NYSE CNM opened at $43.58 on Monday. Core & Main has a twelve month low of $31.21 and a twelve month 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 fifty day simple moving average of $43.78 and a 200-day simple moving average of $49.81. The stock has a market capitalization of $8.77 billion, a PE ratio of 22.00, a PEG ratio of 2.84 and a beta of 1.02.

Core & Main (NYSE:CNM) last issued its quarterly earnings data on Wednesday, September 4th. The company reported $0.61 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.13). Core & Main had a net margin of 5.58% and a return on equity of 21.91%. The firm had revenue of $1.96 billion during the quarter, compared to analyst estimates of $2.05 billion. During the same period in the previous year, the firm posted $0.66 earnings per share. The company’s quarterly revenue was up 5.5% compared to the same quarter last year. On average, equities analysts forecast that Core & Main will post 2.1 earnings per share for the current year.

Institutional Trading of Core & Main

Institutional investors and hedge funds have recently made changes to their positions in the company. American International Group Inc. lifted its holdings in shares of Core & Main by 22.3% in the 1st quarter. American International Group Inc. now owns 225,823 shares of the company’s stock valued at $12,928,000 after purchasing an additional 41,229 shares during the last quarter. William Blair Investment Management LLC purchased a new stake in Core & Main during the 1st quarter valued at approximately $29,731,000. Lord Abbett & CO. LLC raised its stake in Core & Main by 60.6% during the 1st quarter. Lord Abbett & CO. LLC now owns 836,211 shares of the company’s stock valued at $47,873,000 after acquiring an additional 315,411 shares during the last quarter. Mutual of America Capital Management LLC raised its stake in Core & Main by 32.6% during the 1st quarter. Mutual of America Capital Management LLC now owns 101,636 shares of the company’s stock valued at $5,819,000 after acquiring an additional 24,976 shares during the last quarter. Finally, Lazard Asset Management LLC raised its stake in Core & Main by 370.9% during the 1st quarter. Lazard Asset Management LLC now owns 273,561 shares of the company’s stock valued at $15,661,000 after acquiring an additional 215,472 shares during the last quarter. 94.19% of the stock is owned by hedge funds and other institutional investors.

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.