Core & Main, Inc. (NYSE:CNM – Get Free Report)’s share price hit a new 52-week low on Tuesday after Zacks Research downgraded the stock from a hold rating to a strong sell rating. The company traded as low as $40.03 and last traded at $40.8160, with a volume of 3011623 shares traded. The stock had previously closed at $40.62.
CNM has been the topic of several other research reports. Truist Financial cut their target price on Core & Main from $50.00 to $45.00 and set a “hold” rating on the stock in a research report on Thursday, September 10th. Northcoast Research lowered Core & Main from a “buy” rating to a “neutral” rating in a research note on Wednesday, August 26th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $53.00 price objective on shares of Core & Main in a research report on Thursday, September 10th. Wall Street Zen lowered shares of Core & Main from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Finally, Wolfe Research reiterated an “outperform” rating and set a $63.00 target price on shares of Core & Main in a research report on Tuesday. Eight research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Core & Main has an average rating of “Moderate Buy” and a consensus price target of $55.64.
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Insider Buying and Selling
Institutional Trading of Core & Main
Hedge funds and other institutional investors have recently bought and sold shares of the business. Root Financial Partners LLC lifted its stake in shares of Core & Main by 111.6% in the first quarter. Root Financial Partners LLC now owns 895 shares of the company’s stock valued at $44,000 after buying an additional 472 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Core & Main by 377.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,679 shares of the company’s stock worth $87,000 after acquiring an additional 1,327 shares in the last quarter. Eurizon Capital SGR S.p.A. acquired a new stake in shares of Core & Main in the 4th quarter worth about $92,000. Covestor Ltd raised its holdings in shares of Core & Main by 30.8% in the 4th quarter. Covestor Ltd now owns 1,913 shares of the company’s stock worth $99,000 after acquiring an additional 450 shares during the last quarter. Finally, SkyView Investment Advisors LLC bought a new position in Core & Main in the 2nd quarter valued at about $145,000. Institutional investors own 94.19% of the company’s stock.
Core & Main Stock Performance
The firm has a market cap of $8.27 billion, a P/E ratio of 17.59, a PEG ratio of 1.72 and a beta of 0.91. The company has a current ratio of 2.47, a quick ratio of 1.51 and a debt-to-equity ratio of 1.16. The company’s 50-day moving average is $44.22 and its two-hundred day moving average is $47.49.
Core & Main (NYSE:CNM – Get Free Report) last issued its quarterly earnings data on Wednesday, September 9th. The company reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.03. The firm 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 company’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.87 EPS. As a group, equities analysts predict that Core & Main, Inc. will post 3 EPS for the current fiscal year.
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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