Core & Main (NYSE:CNM) Price Target Raised to $63.00

Core & Main (NYSE:CNM) had its price objective upped by Loop Capital from $52.00 to $63.00 in a report issued on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities analysts have also recently issued reports on CNM. Truist Financial boosted their price objective on shares of Core & Main from $38.00 to $56.00 and gave the company a “hold” rating in a research report on Wednesday. Robert W. Baird boosted their price objective on shares of Core & Main from $60.00 to $66.00 and gave the company an “outperform” rating in a research report on Wednesday. JPMorgan Chase & Co. decreased their price objective 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. Bank of America decreased their price objective on shares of Core & Main from $38.00 to $34.00 and set an “underperform” rating on the stock in a research report on Thursday, September 5th. Finally, Barclays boosted their price target on shares of Core & Main from $57.00 to $65.00 and gave the company an “overweight” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $57.40.

Core & Main Stock Performance

Core & Main stock opened at $55.26 on Wednesday. The company has a quick ratio of 1.34, a current ratio of 2.14 and a debt-to-equity ratio of 1.36. The company has a market capitalization of $11.11 billion, a PE ratio of 25.94, a P/E/G ratio of 3.63 and a beta of 1.04. The firm has a fifty day simple moving average of $45.03 and a two-hundred day simple moving average of $48.06. Core & Main has a twelve month low of $35.03 and a twelve month high of $62.15.

Core & Main (NYSE:CNM) last posted its quarterly earnings results on Tuesday, December 3rd. The company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.04. Core & Main had a net margin of 5.71% and a return on equity of 24.71%. The business had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $1.99 billion. During the same period in the previous year, the firm posted $0.65 earnings per share. The firm’s revenue for the quarter was up 11.5% on a year-over-year basis. Research analysts expect that Core & Main will post 2.1 EPS for the current year.

Institutional Investors Weigh In On Core & Main

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. QRG Capital Management Inc. grew its holdings in Core & Main by 1.9% in the second quarter. QRG Capital Management Inc. now owns 12,153 shares of the company’s stock worth $595,000 after purchasing an additional 228 shares during the period. United Services Automobile Association grew its holdings in Core & Main by 2.0% in the second quarter. United Services Automobile Association now owns 13,307 shares of the company’s stock worth $651,000 after purchasing an additional 266 shares during the period. Andina Capital Management LLC grew its holdings in Core & Main by 3.5% in the third quarter. Andina Capital Management LLC now owns 8,707 shares of the company’s stock worth $387,000 after purchasing an additional 294 shares during the period. CWM LLC lifted its stake in shares of Core & Main by 25.6% in the second quarter. CWM LLC now owns 1,638 shares of the company’s stock worth $80,000 after buying an additional 334 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of Core & Main by 61.1% in the third quarter. GAMMA Investing LLC now owns 1,348 shares of the company’s stock worth $60,000 after buying an additional 511 shares in the last quarter. Hedge funds and other institutional investors own 94.19% of the company’s stock.

Core & Main Company Profile

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.