Wall Street Zen upgraded shares of Core & Main (NYSE:CNM – Free Report) from a hold rating to a buy rating in a research report report published on Saturday morning,Wall Street Zen reports.
CNM has been the topic of a number of other reports. Barclays cut their target price on Core & Main from $62.00 to $61.00 and set an “overweight” rating on the stock in a research note on Thursday, September 10th. Royal Bank Of Canada dropped their price target on shares of Core & Main from $63.00 to $60.00 and set an “outperform” rating on the stock in a research note on Thursday, September 10th. 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. Deutsche Bank Aktiengesellschaft set a $55.00 price objective on shares of Core & Main in a research note on Thursday, September 10th. Finally, 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. Eight analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Core & Main has an average rating of “Moderate Buy” and an average price target of $55.64.
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Core & Main Stock Performance
Core & Main (NYSE:CNM – Get Free Report) last posted its quarterly earnings data on Wednesday, September 9th. The company reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.03. The company had revenue of $2.15 billion during the quarter, compared to analyst estimates of $2.14 billion. Core & Main had a return on equity of 25.98% and a net margin of 5.96%.The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter last year, the company earned $0.87 EPS. Equities research analysts anticipate that Core & Main will post 3 earnings per share for the current fiscal year.
Insider Activity at Core & Main
In other Core & Main news, Director James Hope acquired 2,067 shares of the company’s stock in a transaction that occurred on Monday, July 6th. The shares were bought at an average cost of $46.01 per share, with a total value of $95,102.67. Following the completion of the transaction, the director directly owned 11,805 shares of the company’s stock, valued at approximately $543,148.05. This represents a 21.23% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.51% of the stock is owned by company insiders.
Hedge Funds Weigh In On Core & Main
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Fifth Third Wealth Advisors LLC grew its stake in shares of Core & Main by 4.8% in the first quarter. Fifth Third Wealth Advisors LLC now owns 5,726 shares of the company’s stock worth $283,000 after acquiring an additional 261 shares during the period. State of Michigan Retirement System lifted its position in Core & Main by 0.7% during the first quarter. State of Michigan Retirement System now owns 45,400 shares of the company’s stock valued at $2,243,000 after purchasing an additional 300 shares during the period. Root Financial Partners LLC boosted its holdings in Core & Main by 111.6% in the first quarter. Root Financial Partners LLC now owns 895 shares of the company’s stock worth $44,000 after purchasing an additional 472 shares during the last quarter. Bryn Mawr Trust Advisors LLC boosted its holdings in Core & Main by 7.4% in the first quarter. Bryn Mawr Trust Advisors LLC now owns 6,954 shares of the company’s stock worth $344,000 after purchasing an additional 478 shares during the last quarter. Finally, Granite Investment Partners LLC grew its position in Core & Main by 12.7% in the 1st quarter. Granite Investment Partners LLC now owns 5,751 shares of the company’s stock worth $284,000 after purchasing an additional 648 shares during the period. Institutional investors own 94.19% of the company’s stock.
Core & Main Company Profile
Core & Main, Inc (NYSE: CNM) is a specialized distributor of water, wastewater, storm drainage and fire protection products in the United States. The company supplies infrastructure materials used in the construction, maintenance and repair of public and private utility systems.
Its product offerings include ductile iron and PVC pipe, valves, hydrants, water meters, storm drainage systems, pipe fittings, fire protection equipment and related products. Core & Main also provides services such as product sourcing, technical support, fabrication, field assistance and inventory management to help customers complete infrastructure projects.
Core & Main serves municipalities, utility contractors, water and wastewater authorities, private water companies, civil and site-development contractors, and other industrial customers through a nationwide distribution network.
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