Core & Main (NYSE:CNM) Given New $53.00 Price Target at Robert W. Baird

Core & Main (NYSE:CNM) had its price target trimmed by Robert W. Baird from $62.00 to $53.00 in a research report report published on Thursday, Benzinga reports. The brokerage currently has an outperform rating on the stock.

CNM has been the topic of several other reports. Truist Financial cut their target price on Core & Main from $56.00 to $50.00 and set a hold rating on the stock in a research report on Wednesday, June 5th. Royal Bank of Canada reissued an outperform rating and issued a $60.00 price objective on shares of Core & Main in a report on Wednesday, June 5th. Finally, JPMorgan Chase & Co. decreased their target price on Core & Main from $54.00 to $52.00 and set an overweight rating for the company in a report on Tuesday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $48.82.

Core & Main Price Performance

Shares of NYSE CNM opened at $37.99 on Thursday. Core & Main has a fifty-two week low of $27.75 and a fifty-two week high of $62.15. The company has a market cap of $7.65 billion, a PE ratio of 17.75, a P/E/G ratio of 1.82 and a beta of 1.06. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.23 and a current ratio of 2.14. The business has a 50-day simple moving average of $49.88 and a two-hundred day simple moving average of $52.64.

Core & Main (NYSE:CNM) last released its earnings results on Wednesday, September 4th. The company reported $0.61 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.13). Core & Main had a return on equity of 20.01% and a net margin of 5.53%. The company had revenue of $1.96 billion during the quarter, compared to analyst estimates of $2.05 billion. During the same quarter last year, the business earned $0.66 earnings per share. The firm’s revenue for the quarter was up 5.5% on a year-over-year basis. As a group, equities analysts expect that Core & Main will post 2.32 EPS for the current fiscal year.

Insider Transactions at Core & Main

In related news, Director James G. Castellano sold 12,500 shares of the business’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $52.22, for a total value of $652,750.00. Following the completion of the transaction, the director now directly owns 11,769 shares in the company, valued at approximately $614,577.18. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 3.49% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sanctuary Advisors LLC purchased a new stake in shares of Core & Main during the 2nd quarter worth about $840,000. Teachers Retirement System of The State of Kentucky boosted its position in Core & Main by 3.6% during the second quarter. Teachers Retirement System of The State of Kentucky now owns 54,800 shares of the company’s stock worth $2,682,000 after purchasing an additional 1,900 shares in the last quarter. Truist Financial Corp grew its holdings in Core & Main by 1,103.3% in the second quarter. Truist Financial Corp now owns 495,199 shares of the company’s stock valued at $24,235,000 after purchasing an additional 454,046 shares during the period. Fiera Capital Corp increased its position in shares of Core & Main by 7.9% in the second quarter. Fiera Capital Corp now owns 162,250 shares of the company’s stock valued at $7,941,000 after buying an additional 11,904 shares in the last quarter. Finally, Algert Global LLC raised its stake in shares of Core & Main by 12.4% during the 2nd quarter. Algert Global LLC now owns 176,875 shares of the company’s stock worth $8,656,000 after buying an additional 19,443 shares during the period. Hedge funds and other institutional investors own 94.19% of the company’s stock.

About Core & Main

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.