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

Core & Main (NYSE:CNM) had its target price increased by research analysts at Loop Capital from $52.00 to $63.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Loop Capital’s target price would suggest a potential upside of 14.01% from the stock’s current price.

CNM has been the topic of several other research reports. Robert W. Baird lifted their price target on shares of Core & Main from $60.00 to $66.00 and gave the stock an “outperform” rating in a research note on Wednesday. JPMorgan Chase & Co. dropped 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 note on Tuesday, September 3rd. Bank of America dropped their price target on shares of Core & Main from $38.00 to $34.00 and set an “underperform” rating on the stock in a research note on Thursday, September 5th. Wells Fargo & Company boosted their target price on shares of Core & Main from $52.00 to $62.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $62.00 price target (up from $53.00) on shares of Core & Main in a report on Wednesday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $57.40.

Core & Main Stock Performance

NYSE:CNM opened at $55.26 on Wednesday. The company has a current ratio of 2.14, a quick ratio of 1.34 and a debt-to-equity ratio of 1.36. The firm has a market capitalization of $11.11 billion, a price-to-earnings ratio of 25.94, a PEG ratio of 3.63 and a beta of 1.04. The firm’s fifty day simple moving average is $45.03 and its 200 day simple moving average is $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 earnings results on Tuesday, December 3rd. The company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.04. The business had revenue of $2.04 billion for the quarter, compared to analyst estimates of $1.99 billion. Core & Main had a net margin of 5.71% and a return on equity of 24.71%. The business’s quarterly revenue was up 11.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.65 EPS. As a group, equities research analysts expect that Core & Main will post 2.1 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Ashton Thomas Securities LLC acquired a new stake in shares of Core & Main in the 3rd quarter worth approximately $26,000. ORG Wealth Partners LLC acquired a new stake in shares of Core & Main in the 3rd quarter worth approximately $31,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Core & Main in the 3rd quarter worth approximately $49,000. GAMMA Investing LLC lifted its stake in shares of Core & Main by 61.1% in the 3rd quarter. GAMMA Investing LLC now owns 1,348 shares of the company’s stock worth $60,000 after acquiring an additional 511 shares during the period. Finally, Brown Brothers Harriman & Co. acquired a new stake in shares of Core & Main in the 2nd quarter worth approximately $76,000. 94.19% of the stock is owned by institutional investors and hedge funds.

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.