Core & Main, Inc. (NYSE:CNM) Receives Average Recommendation of “Moderate Buy” from Analysts

Core & Main, Inc. (NYSE:CNM) has earned a consensus recommendation of “Moderate Buy” from the ten ratings firms that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation and six have given a buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $51.20.

A number of research firms have issued reports on CNM. The Goldman Sachs Group decreased their price target on shares of Core & Main from $57.00 to $50.00 and set a “neutral” rating for the company in a report on Friday, September 6th. Bank of America dropped their price target on Core & Main from $38.00 to $34.00 and set an “underperform” rating on the stock in a research note on Thursday, September 5th. JPMorgan Chase & Co. reduced their price objective on Core & Main from $54.00 to $52.00 and set an “overweight” rating for the company in a research note on Tuesday, September 3rd. Barclays dropped their target price on Core & Main from $65.00 to $57.00 and set an “overweight” rating on the stock in a research report on Thursday, September 5th. Finally, Robert W. Baird raised their price target on shares of Core & Main from $53.00 to $60.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th.

Institutional Trading of Core & Main

Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in Core & Main by 35.2% during the 1st quarter. Vanguard Group Inc. now owns 18,138,994 shares of the company’s stock valued at $1,038,457,000 after acquiring an additional 4,721,510 shares in the last quarter. Capital International Investors increased its holdings in shares of Core & Main by 470.6% in the first quarter. Capital International Investors now owns 5,093,278 shares of the company’s stock valued at $291,590,000 after purchasing an additional 4,200,591 shares during the last quarter. Bessemer Group Inc. lifted its position in Core & Main by 915.9% during the first quarter. Bessemer Group Inc. now owns 2,586,395 shares of the company’s stock worth $148,073,000 after buying an additional 2,331,802 shares in the last quarter. Swedbank AB acquired a new position in Core & Main during the first quarter worth $98,876,000. Finally, Impax Asset Management Group plc grew its holdings in Core & Main by 373.0% in the 3rd quarter. Impax Asset Management Group plc now owns 2,013,880 shares of the company’s stock valued at $89,416,000 after buying an additional 1,588,117 shares in the last quarter. Institutional investors and hedge funds own 94.19% of the company’s stock.

Core & Main Stock Down 2.3 %

Shares of Core & Main stock opened at $43.25 on Monday. Core & Main has a 52-week low of $29.60 and a 52-week high of $62.15. The firm’s 50 day moving average price is $44.20 and its 200-day moving average price is $50.00. The company has a quick ratio of 1.34, a current ratio of 2.29 and a debt-to-equity ratio of 1.40. The company has a market cap of $8.70 billion, a P/E ratio of 20.69, a PEG ratio of 2.88 and a beta of 1.02.

Core & Main (NYSE:CNM) last posted its quarterly earnings data on Wednesday, September 4th. The company reported $0.61 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.13). Core & Main had a return on equity of 21.91% and a net margin of 5.58%. The business had revenue of $1.96 billion during the quarter, compared to analyst estimates of $2.05 billion. During the same period in the previous year, the business earned $0.66 EPS. The firm’s revenue for the quarter was up 5.5% compared to the same quarter last year. On average, sell-side analysts predict that Core & Main will post 2.1 EPS for the current fiscal year.

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.