Core & Main (NYSE:CNM) Stock Price Expected to Rise, Robert W. Baird Analyst Says

Core & Main (NYSE:CNM) had its target price upped by equities research analysts at Robert W. Baird from $60.00 to $66.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Robert W. Baird’s price objective points to a potential upside of 20.83% from the stock’s current price.

A number of other research firms have also recently commented on CNM. Loop Capital cut their price target on shares of Core & Main from $64.00 to $52.00 and set a “buy” rating on the stock in a report on Thursday, September 5th. Bank of America decreased their price objective on shares of Core & Main from $38.00 to $34.00 and set an “underperform” rating for the company in a research report on Thursday, September 5th. The Goldman Sachs Group cut their price target on shares of Core & Main from $57.00 to $50.00 and set a “neutral” rating on the stock in a report on Friday, September 6th. Truist Financial dropped their price objective on shares of Core & Main from $50.00 to $38.00 and set a “hold” rating on the stock in a research note on Thursday, September 5th. Finally, 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. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $58.10.

Core & Main Price Performance

Shares of NYSE:CNM opened at $54.62 on Wednesday. The company has a debt-to-equity ratio of 1.36, a current ratio of 2.14 and a quick ratio of 1.34. Core & Main has a 1-year low of $35.70 and a 1-year high of $62.15. The company has a market capitalization of $10.99 billion, a P/E ratio of 25.64, a P/E/G ratio of 3.63 and a beta of 1.04. The firm’s 50 day simple moving average is $45.25 and its two-hundred day simple moving average is $48.11.

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

Insider Buying and Selling at Core & Main

In related news, CEO Stephen O. Leclair sold 200,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $54.88, for a total transaction of $10,976,000.00. Following the completion of the sale, the chief executive officer now owns 92,349 shares in the company, valued at $5,068,113.12. The trade was a 68.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Margaret Newman sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $55.25, for a total value of $828,750.00. Following the sale, the director now owns 11,769 shares of the company’s stock, valued at approximately $650,237.25. The trade was a 56.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 290,000 shares of company stock valued at $15,926,000 in the last three months. 3.49% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Core & Main

Several institutional investors have recently added to or reduced their stakes in CNM. QRG Capital Management Inc. raised its stake in shares of Core & Main by 1.9% during 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 last quarter. United Services Automobile Association boosted its stake in shares of Core & Main by 2.0% during the second quarter. United Services Automobile Association now owns 13,307 shares of the company’s stock valued at $651,000 after acquiring an additional 266 shares during the last quarter. Andina Capital Management LLC lifted its position in Core & Main by 3.5% during the third quarter. Andina Capital Management LLC now owns 8,707 shares of the company’s stock worth $387,000 after buying an additional 294 shares during the period. CWM LLC lifted its position in Core & Main by 25.6% during the second quarter. CWM LLC now owns 1,638 shares of the company’s stock worth $80,000 after buying an additional 334 shares during the period. Finally, GAMMA Investing LLC lifted its position in Core & Main by 61.1% during 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 during the period. 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.