Core & Main (NYSE:CNM) Raised to Buy at Wall Street Zen

Core & Main (NYSE:CNM) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report issued on Sunday, Wall Street Zen reports.

A number of other research analysts also recently weighed in on the company. Truist Financial lowered their target price on Core & Main from $50.00 to $45.00 and set a “hold” rating on the stock in a report on Thursday, September 10th. Barclays dropped their target price on Core & Main from $62.00 to $61.00 and set an “overweight” rating on the stock in a research report on Thursday, September 10th. Zacks Research downgraded Core & Main from a “hold” rating to a “strong sell” rating in a research note on Monday, September 14th. Citigroup reduced their price target on shares of Core & Main from $53.00 to $46.00 and set a “neutral” rating for the company in a research report on Friday, September 11th. Finally, William Blair started coverage on shares of Core & Main in a research note on Thursday, July 23rd. They issued a “market perform” rating on the stock. Seven investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $54.40.

Core & Main Trading Down 0.9%

Shares of CNM stock opened at $41.62 on Friday. Core & Main has a 12-month low of $39.42 and a 12-month high of $59.66. The company has a current ratio of 2.47, a quick ratio of 1.51 and a debt-to-equity ratio of 1.16. The firm’s 50 day moving average is $42.83 and its 200 day moving average is $46.18. The stock has a market capitalization of $7.93 billion, a P/E ratio of 17.13, a P/E/G ratio of 1.76 and a beta of 0.91.

Core & Main (NYSE:CNM) last posted its earnings results on Wednesday, September 9th. The company reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.03. The business had revenue of $2.15 billion during the quarter, compared to the consensus estimate of $2.14 billion. Core & Main had a net margin of 5.96% and a return on equity of 25.98%. The firm’s revenue was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.87 EPS. Research analysts expect that Core & Main will post 3.00 earnings per share for the current year.

Institutional Trading of Core & Main

Several hedge funds have recently bought and sold shares of CNM. California State Teachers Retirement System increased its holdings in Core & Main by 22.3% in the 1st quarter. California State Teachers Retirement System now owns 219,934 shares of the company’s stock worth $10,865,000 after acquiring an additional 40,050 shares in the last quarter. KBC Group NV lifted its holdings in Core & Main by 4.5% during the first quarter. KBC Group NV now owns 2,737,992 shares of the company’s stock valued at $135,257,000 after purchasing an additional 119,076 shares in the last quarter. Wellington Management Group LLP lifted its holdings in Core & Main by 52.5% during the second quarter. Wellington Management Group LLP now owns 251,724 shares of the company’s stock valued at $12,146,000 after purchasing an additional 86,672 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Core & Main during the second quarter valued at approximately $4,461,000. Finally, Bornite Capital Management LP bought a new position in shares of Core & Main in the second quarter worth approximately $36,622,000. Institutional investors own 94.19% of the company’s stock.

About Core & Main

Core & Main, Inc is a distributor of specialized products for public and private infrastructure in the United States. The company primarily serves municipalities, contractors, and other customers involved in water, wastewater, storm drainage, and fire protection projects.

Its product offerings include water, sewer, and storm drainage pipe; valves, hydrants, and related waterworks products; fire protection equipment; and geosynthetic and other stormwater management products. Core & Main also provides product expertise, technical support, and related services to help customers plan and complete infrastructure projects.

The company traces its roots to the waterworks distribution business formerly operated by HD Supply.