Wall Street Zen Upgrades Core & Main (NYSE:CNM) to “Buy”

Core & Main (NYSE:CNM) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued on Saturday, Wall Street Zen reports.

A number of other equities research analysts have also weighed in on CNM. Zacks Research lowered Core & Main from a “hold” rating to a “strong sell” rating in a research report on Monday, September 14th. Barclays dropped their price target on Core & Main from $62.00 to $61.00 and set an “overweight” rating on the stock in a research report on Thursday, September 10th. Wells Fargo & Company decreased their price objective on Core & Main from $65.00 to $48.00 and set an “overweight” rating for the company in a report on Thursday, September 10th. Truist Financial decreased their price objective on Core & Main from $50.00 to $45.00 and set a “hold” rating for the company in a report on Thursday, September 10th. Finally, Robert W. Baird lowered their price objective on shares of Core & Main from $66.00 to $57.00 and set an “outperform” rating for the company in a research note on Thursday, September 10th. Eight research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Core & Main presently has an average rating of “Moderate Buy” and an average price target of $55.64.

Core & Main Stock Up 0.2%

NYSE:CNM opened at $42.71 on Friday. Core & Main has a twelve month low of $40.03 and a twelve month high of $59.66. The company has a market cap of $8.14 billion, a price-to-earnings ratio of 17.57, a price-to-earnings-growth ratio of 1.78 and a beta of 0.91. The stock has a fifty day simple moving average of $43.86 and a 200-day simple moving average of $47.00. The company has a current ratio of 2.47, a quick ratio of 1.51 and a debt-to-equity ratio of 1.16.

Core & Main (NYSE:CNM) last issued its earnings results on Wednesday, September 9th. The company reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.03. Core & Main had a net margin of 5.96% and a return on equity of 25.98%. The firm had revenue of $2.15 billion during the quarter, compared to analyst estimates of $2.14 billion. During the same period in the previous year, the firm earned $0.87 earnings per share. The business’s revenue was up 2.5% on a year-over-year basis. Analysts anticipate that Core & Main will post 3 EPS for the current year.

Insider Activity

In related news, Director James Hope acquired 2,067 shares of the firm’s stock in a transaction that occurred on Monday, July 6th. The stock was purchased at an average cost of $46.01 per share, for a total transaction of $95,102.67. Following the purchase, the director directly owned 11,805 shares of the company’s stock, valued at $543,148.05. This trade represents a 21.23% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 1.51% of the company’s stock.

Institutional Investors Weigh In On Core & Main

Institutional investors have recently added to or reduced their stakes in the stock. Root Financial Partners LLC raised its stake in shares of Core & Main by 111.6% during the 1st quarter. Root Financial Partners LLC now owns 895 shares of the company’s stock worth $44,000 after acquiring an additional 472 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in Core & Main by 377.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,679 shares of the company’s stock worth $87,000 after buying an additional 1,327 shares during the last quarter. Eurizon Capital SGR S.p.A. purchased a new position in Core & Main during the 4th quarter worth $92,000. SkyView Investment Advisors LLC acquired a new position in Core & Main during the 2nd quarter valued at about $145,000. Finally, HB Wealth Management LLC acquired a new position in Core & Main during the 1st quarter valued at about $205,000. Institutional investors own 94.19% of the company’s stock.

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.