Core & Main (NYSE:CNM) Stock Gets Price Target Reduction from Robert W. Baird

Core & Main (NYSE:CNM) had its target price dropped by stock analysts at Robert W. Baird from $57.00 to $54.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Robert W. Baird‘s target price indicates a potential upside of 13.98% from the stock’s previous close.

Several other research analysts have also issued reports on the stock. Wall Street Zen upgraded shares of Core & Main from a “hold” rating to a “buy” rating in a research note on Sunday, October 18th. The Goldman Sachs Group reissued a “neutral” rating and set a $53.00 price objective on shares of Core & Main in a research note on Thursday, September 10th. Northcoast Research cut shares of Core & Main from a “buy” rating to a “neutral” rating in a report on Wednesday, August 26th. Wolfe Research started coverage on shares of Core & Main in a research note on Tuesday, September 15th. They set an “outperform” rating and a $63.00 target price for the company. Finally, Truist Financial lowered their target price on shares of Core & Main from $50.00 to $45.00 and set a “hold” rating for the company in a report on Thursday, September 10th. Eight investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $54.00.

Core & Main Trading Down 1.1%

NYSE CNM opened at $47.38 on Wednesday. The company has a quick ratio of 1.51, a current ratio of 2.47 and a debt-to-equity ratio of 1.16. Core & Main has a twelve month low of $39.42 and a twelve month high of $59.66. The firm has a market capitalization of $9.02 billion, a PE ratio of 19.50, a P/E/G ratio of 2.00 and a beta of 0.91. The stock’s 50 day moving average is $42.68 and its 200 day moving average is $47.62.

Core & Main (NYSE:CNM) last posted its quarterly earnings data on Wednesday, September 9th. The company reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.03. The business had revenue of $2.15 billion during the quarter, compared to the consensus estimate of $2.14 billion. Core & Main had a return on equity of 25.98% and a net margin of 5.96%. The firm’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.87 earnings per share. Research analysts forecast that Core & Main will post 3.00 earnings per share for the current fiscal year.

Institutional Trading of Core & Main

Institutional investors and hedge funds have recently bought and sold shares of the company. GW&K Investment Management LLC bought a new position in shares of Core & Main in the third quarter worth approximately $27,000. IFP Advisors Inc increased its position in shares of Core & Main by 142.7% during the third quarter. IFP Advisors Inc now owns 1,296 shares of the company’s stock valued at $54,000 after acquiring an additional 762 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in Core & Main by 42.9% in the 3rd quarter. Nisa Investment Advisors LLC now owns 1,615 shares of the company’s stock worth $67,000 after acquiring an additional 485 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in Core & Main by 42.3% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,389 shares of the company’s stock worth $118,000 after acquiring an additional 710 shares during the last quarter. Finally, SkyView Investment Advisors LLC bought a new position in Core & Main in the 2nd quarter valued at approximately $145,000. 94.19% of the stock is currently owned by institutional investors.

About Core & Main

Core & Main, Inc. is a distributor of products and services used in water, wastewater, storm drainage, and fire protection infrastructure. Its customers include municipalities, water utilities, contractors, and other commercial and industrial organizations. The company offers products such as pipe, valves, fittings, hydrants, meters, and related supplies. It also provides services supporting infrastructure projects, including product fabrication and technical assistance. Based in St. Louis, Missouri, Core & Main serves customers across the United States through a network of branches.