Brokerages Set Core & Main, Inc. (NYSE:CNM) PT at $60.64

Shares of Core & Main, Inc. (NYSE:CNM) have received an average recommendation of “Moderate Buy” from the twelve research firms that are currently covering the company, Marketbeat Ratings reports. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $60.6364.

CNM has been the subject of a number of research reports. The Goldman Sachs Group reduced their target price on shares of Core & Main from $68.00 to $60.00 and set a “neutral” rating for the company in a research report on Friday, September 12th. JPMorgan Chase & Co. upped their price objective on Core & Main from $54.00 to $58.00 and gave the company an “overweight” rating in a research note on Wednesday, October 15th. Truist Financial decreased their target price on Core & Main from $56.00 to $50.00 and set a “hold” rating for the company in a research report on Thursday, September 11th. Loop Capital reaffirmed a “hold” rating and set a $68.00 price target on shares of Core & Main in a research report on Monday, July 28th. Finally, Barclays cut their price target on Core & Main from $69.00 to $65.00 and set an “overweight” rating for the company in a research note on Wednesday, September 10th.

Institutional Investors Weigh In On Core & Main

Institutional investors and hedge funds have recently bought and sold shares of the stock. Envestnet Asset Management Inc. lifted its stake in shares of Core & Main by 6.3% in the 1st quarter. Envestnet Asset Management Inc. now owns 159,896 shares of the company’s stock valued at $7,725,000 after purchasing an additional 9,473 shares during the last quarter. Montrusco Bolton Investments Inc. acquired a new stake in shares of Core & Main during the 2nd quarter worth about $9,849,000. Vident Advisory LLC raised its holdings in Core & Main by 155.9% in the 1st quarter. Vident Advisory LLC now owns 10,808 shares of the company’s stock valued at $522,000 after buying an additional 6,584 shares during the period. Bessemer Group Inc. lifted its position in Core & Main by 0.4% in the second quarter. Bessemer Group Inc. now owns 3,371,475 shares of the company’s stock valued at $203,467,000 after buying an additional 14,244 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new position in Core & Main during the second quarter worth about $7,033,000. 94.19% of the stock is owned by hedge funds and other institutional investors.

Core & Main Trading Up 1.8%

Shares of CNM stock opened at $45.75 on Friday. Core & Main has a 1-year low of $43.17 and a 1-year high of $67.18. The company has a current ratio of 2.25, a quick ratio of 1.30 and a debt-to-equity ratio of 1.14. The stock has a market cap of $9.03 billion, a price-to-earnings ratio of 20.42, a PEG ratio of 1.76 and a beta of 0.98. The stock has a 50-day moving average of $51.09 and a 200-day moving average of $56.88.

Core & Main (NYSE:CNM) last announced its quarterly earnings data on Tuesday, September 9th. The company reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.08. The firm had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.12 billion. Core & Main had a net margin of 5.57% and a return on equity of 25.44%. The business’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.61 earnings per share. Core & Main has set its FY 2025 guidance at EPS. On average, equities research analysts forecast that Core & Main will post 2.16 earnings per share for the current year.

About Core & Main

Core & Main, Inc is a specialty distributor focused on water, wastewater, storm drainage and fire protection products, and related services. The company provides infrastructure solutions to municipalities, private water companies and professional contractors across municipal, non-residential, and residential end markets, nationwide.