Core & Main, Inc. (NYSE:CNM – Get Free Report) shares gapped down prior to trading on Wednesday after Robert W. Baird lowered their price target on the stock from $57.00 to $54.00. The stock had previously closed at $47.44, but opened at $44.85. Robert W. Baird currently has an outperform rating on the stock. Core & Main shares last traded at $45.53, with a volume of 397,302 shares changing hands.
Several other research analysts have also weighed in on the stock. Wells Fargo & Company lowered their target price on shares of Core & Main from $65.00 to $48.00 and set an “overweight” rating for the company in a research note on Thursday, September 10th. Northcoast Research lowered shares of Core & Main from a “buy” rating to a “neutral” rating in a report on Wednesday, August 26th. Barclays decreased their price objective on shares of Core & Main from $62.00 to $61.00 and set an “overweight” rating on the stock in a report on Thursday, September 10th. Citigroup lowered their price objective on shares of Core & Main from $53.00 to $46.00 and set a “neutral” rating for the company in a research report on Friday, September 11th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and issued a $53.00 target price on shares of Core & Main in a report on Thursday, September 10th. Eight investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, Core & Main currently has a consensus rating of “Moderate Buy” and a consensus target price of $54.00.
Check Out Our Latest Stock Report on Core & Main
Institutional Trading of Core & Main
A number of institutional investors and hedge funds have recently bought and sold shares of CNM. GW&K Investment Management LLC acquired a new stake in shares of Core & Main during the third quarter worth about $27,000. IFP Advisors Inc grew its holdings in shares of Core & Main by 142.7% in the third quarter. IFP Advisors Inc now owns 1,296 shares of the company’s stock valued at $54,000 after purchasing an additional 762 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of Core & Main by 42.9% in the third quarter. Nisa Investment Advisors LLC now owns 1,615 shares of the company’s stock valued at $67,000 after purchasing an additional 485 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Core & Main by 42.3% in the first quarter. EverSource Wealth Advisors LLC now owns 2,389 shares of the company’s stock valued at $118,000 after purchasing an additional 710 shares in the last quarter. Finally, SkyView Investment Advisors LLC purchased a new stake in Core & Main during the 2nd quarter worth approximately $145,000. 94.19% of the stock is currently owned by hedge funds and other institutional investors.
Core & Main Stock Performance
The stock has a market capitalization of $8.65 billion, a PE ratio of 18.69, a P/E/G ratio of 2.00 and a beta of 0.91. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.51 and a current ratio of 2.47. The firm’s 50 day moving average is $42.68 and its two-hundred day moving average is $47.62.
Core & Main (NYSE:CNM – Get Free Report) last issued its quarterly earnings results on Wednesday, September 9th. The company reported $0.94 EPS for the quarter, beating the consensus estimate of $0.91 by $0.03. The company had revenue of $2.15 billion during the quarter, compared to analysts’ expectations of $2.14 billion. Core & Main had a net margin of 5.96% and a return on equity of 25.98%. The firm’s revenue was up 2.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.87 EPS. As a group, research analysts predict that Core & Main, Inc. will post 3.00 earnings per share for the current year.
Core & Main Company Profile
Core & Main, Inc. is a distributor of products and services used in water, wastewater, storm drainage, and fire protection infrastructure. Its customers include municipalities, water utilities, contractors, and other commercial and industrial organizations. The company offers products such as pipe, valves, fittings, hydrants, meters, and related supplies. It also provides services supporting infrastructure projects, including product fabrication and technical assistance. Based in St. Louis, Missouri, Core & Main serves customers across the United States through a network of branches.
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