Core & Main, Inc. (NYSE:CNM) Stock Has Average Price Target of $54.70

Shares of Core & Main, Inc. (NYSE:CNM) have been assigned an average recommendation of “Hold” from the thirteen analysts that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $54.40.

A number of equities analysts have recently commented on the stock. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $53.00 target price on shares of Core & Main in a report on Thursday, September 10th. Wall Street Zen cut shares of Core & Main from a “buy” rating to a “hold” rating in a research note on Saturday. William Blair assumed coverage on shares of Core & Main in a research report on Thursday, July 23rd. They set a “market perform” rating on the stock. Royal Bank Of Canada lowered their price objective on shares of Core & Main from $60.00 to $57.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 7th. Finally, Wolfe Research restated an “outperform” rating and issued a $63.00 price objective on shares of Core & Main in a research note on Tuesday, September 15th.

Institutional Investors Weigh In On Core & Main

Several hedge funds have recently made changes to their positions in the business. Root Financial Partners LLC increased its position in Core & Main by 111.6% in the 1st quarter. Root Financial Partners LLC now owns 895 shares of the company’s stock valued at $44,000 after acquiring an additional 472 shares during the period. EverSource Wealth Advisors LLC raised its stake in Core & Main by 42.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,389 shares of the company’s stock valued at $118,000 after acquiring an additional 710 shares during the last quarter. SkyView Investment Advisors LLC purchased a new stake in Core & Main during the 2nd quarter valued at approximately $145,000. HB Wealth Management LLC purchased a new stake in Core & Main during the 1st quarter valued at approximately $205,000. Finally, iSAM Funds UK Ltd acquired a new stake in Core & Main during the 2nd quarter worth approximately $207,000. Institutional investors and hedge funds own 94.19% of the company’s stock.

Core & Main Price Performance

Shares of NYSE CNM opened at $40.37 on Monday. The company has a current ratio of 2.47, a quick ratio of 1.51 and a debt-to-equity ratio of 1.16. Core & Main has a twelve month low of $39.42 and a twelve month high of $59.66. The stock has a 50 day moving average of $43.43 and a two-hundred day moving average of $46.52. The stock has a market cap of $7.69 billion, a P/E ratio of 16.61, a P/E/G ratio of 1.69 and a beta of 0.91.

Core & Main (NYSE:CNM) last posted its quarterly earnings data on Wednesday, September 9th. The company reported $0.94 earnings per share for the quarter, beating the consensus estimate 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 return on equity of 25.98% and a net margin of 5.96%. The company’s revenue was up 2.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.87 earnings per share. On average, research analysts forecast that Core & Main will post 3.00 earnings per share for the current year.

About Core & Main

Core & Main, Inc (NYSE: CNM) is a specialized distributor of infrastructure products serving the water, wastewater, storm drainage, fire protection and related utility markets. The company supplies products used to build, repair and maintain essential public and private infrastructure across the United States.

Its product portfolio includes ductile iron and plastic pipe, valves, hydrants, water meters, fittings, and other waterworks components. Core & Main also distributes stormwater drainage products, fire protection equipment and related solutions.