Core & Main (NYSE:CNM) PT Lowered to $57.00

Core & Main (NYSE:CNM) had its target price trimmed by Barclays from $65.00 to $57.00 in a research report sent to investors on Thursday, Benzinga reports. The firm currently has an overweight rating on the stock.

Other research analysts have also issued research reports about the stock. JPMorgan Chase & Co. decreased their price target on shares of Core & Main from $54.00 to $52.00 and set an overweight rating on the stock in a research report on Tuesday, September 3rd. Royal Bank of Canada reaffirmed an outperform rating and set a $60.00 target price on shares of Core & Main in a report on Wednesday, June 5th. Truist Financial dropped their price target on Core & Main from $50.00 to $38.00 and set a hold rating on the stock in a research note on Thursday. Finally, Robert W. Baird reduced their price objective on shares of Core & Main from $62.00 to $53.00 and set an outperform rating for the company in a research note on Thursday. One investment 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. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $49.30.

Core & Main Stock Up 0.1 %

Shares of CNM stock opened at $38.05 on Thursday. Core & Main has a 1 year low of $27.75 and a 1 year high of $62.15. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.23 and a current ratio of 2.14. The business’s fifty day moving average is $49.66 and its 200-day moving average is $52.65. The stock has a market cap of $7.67 billion, a PE ratio of 17.78, a price-to-earnings-growth ratio of 1.82 and a beta of 1.04.

Core & Main (NYSE:CNM) last issued its quarterly earnings results on Wednesday, September 4th. The company reported $0.61 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.13). Core & Main had a return on equity of 20.01% and a net margin of 5.53%. The business had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $2.05 billion. During the same quarter last year, the firm posted $0.66 earnings per share. Core & Main’s revenue was up 5.5% compared to the same quarter last year. Equities analysts expect that Core & Main will post 2.32 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Core & Main news, Director James G. Castellano sold 12,500 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $52.22, for a total value of $652,750.00. Following the transaction, the director now owns 11,769 shares in the company, valued at approximately $614,577.18. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 3.49% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

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

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.