Core & Main, Inc. (NYSE:CNM) Stock Has Consensus Target Price of $54.40

Core & Main, Inc. (NYSE:CNM) has been given an average recommendation of “Hold” by the thirteen brokerages that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $54.40.

Several equities analysts recently issued reports on the stock. William Blair began coverage on shares of Core & Main in a report on Thursday, July 23rd. They set a “market perform” rating on the stock. Barclays lowered their price objective on Core & Main from $62.00 to $61.00 and set an “overweight” rating for the company in a research report on Thursday, September 10th. Robert W. Baird lowered their target price on shares of Core & Main from $66.00 to $57.00 and set an “outperform” rating for the company in a research note on Thursday, September 10th. Wells Fargo & Company decreased their price objective on shares of Core & Main from $65.00 to $48.00 and set an “overweight” rating for the company in a research note on Thursday, September 10th. Finally, Northcoast Research cut shares of Core & Main from a “buy” rating to a “neutral” rating in a research note on Wednesday, August 26th.

Institutional Investors Weigh In On Core & Main

A number of large investors have recently made changes to their positions in CNM. First Trust Advisors LP raised its stake in Core & Main by 15.3% in the 1st quarter. First Trust Advisors LP now owns 6,130,840 shares of the company’s stock worth $302,863,000 after acquiring an additional 812,770 shares during the last quarter. KBC Group NV grew its position in shares of Core & Main by 4.5% during the 1st quarter. KBC Group NV now owns 2,737,992 shares of the company’s stock valued at $135,257,000 after buying an additional 119,076 shares during the last quarter. Bessemer Group Inc. raised its position in shares of Core & Main by 2.8% during the first quarter. Bessemer Group Inc. now owns 2,663,161 shares of the company’s stock worth $131,561,000 after purchasing an additional 72,712 shares during the period. Dimensional Fund Advisors LP raised its holdings in Core & Main by 6.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,661,022 shares of the company’s stock worth $131,425,000 after acquiring an additional 152,077 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in Core & Main by 12.6% in the first quarter. Bank of New York Mellon Corp now owns 1,231,839 shares of the company’s stock worth $60,853,000 after purchasing an additional 138,115 shares in the last quarter. 94.19% of the stock is currently owned by institutional investors.

Core & Main Stock Down 0.1%

CNM stock opened at $44.21 on Friday. 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 1-year low of $39.42 and a 1-year high of $59.66. The firm has a market capitalization of $8.42 billion, a PE ratio of 18.19, a PEG ratio of 1.85 and a beta of 0.91. The business’s 50 day simple moving average is $42.28 and its 200 day simple moving average is $48.01.

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

Core & Main Company Profile

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.