Core & Main (NYSE:CNM) Price Target Increased to $60.00 by Analysts at Robert W. Baird

Core & Main (NYSE:CNM) had its target price upped by Robert W. Baird from $53.00 to $60.00 in a report issued on Wednesday morning, Benzinga reports. They currently have an outperform rating on the stock.

Other equities research analysts have also issued research reports about the stock. Barclays reduced their price target on shares of Core & Main from $65.00 to $57.00 and set an “overweight” rating for the company in a report on Thursday, September 5th. Truist Financial lowered their target price on Core & Main from $50.00 to $38.00 and set a “hold” rating for the company in a report on Thursday, September 5th. Wells Fargo & Company initiated coverage on Core & Main in a report on Monday, September 23rd. They issued an “overweight” rating and a $52.00 price target on the stock. Loop Capital decreased their price objective on Core & Main from $64.00 to $52.00 and set a “buy” rating for the company in a research note on Thursday, September 5th. Finally, The Goldman Sachs Group cut their target price on Core & Main from $57.00 to $50.00 and set a “neutral” rating on the stock in a research note on Friday, September 6th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $51.20.

Core & Main Stock Up 2.5 %

Shares of NYSE:CNM opened at $46.35 on Wednesday. The business’s 50 day moving average is $45.47 and its 200 day moving average is $51.05. The stock has a market cap of $9.34 billion, a P/E ratio of 21.66, a price-to-earnings-growth ratio of 2.83 and a beta of 1.02. Core & Main has a 52-week low of $29.13 and a 52-week high of $62.15. The company has a quick ratio of 1.34, a current ratio of 2.29 and a debt-to-equity ratio of 1.40.

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

Institutional Trading of Core & Main

Institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in shares of Core & Main by 35.2% in the first quarter. Vanguard Group Inc. now owns 18,138,994 shares of the company’s stock worth $1,038,457,000 after buying an additional 4,721,510 shares during the last quarter. Capital International Investors raised its stake in Core & Main by 470.6% in the 1st quarter. Capital International Investors now owns 5,093,278 shares of the company’s stock worth $291,590,000 after acquiring an additional 4,200,591 shares during the last quarter. Bessemer Group Inc. lifted its position in Core & Main by 915.9% during the 1st quarter. Bessemer Group Inc. now owns 2,586,395 shares of the company’s stock worth $148,073,000 after acquiring an additional 2,331,802 shares during the period. Swedbank AB purchased a new stake in Core & Main during the 1st quarter valued at about $98,876,000. Finally, Artemis Investment Management LLP increased its holdings in shares of Core & Main by 148.0% in the first quarter. Artemis Investment Management LLP now owns 2,650,209 shares of the company’s stock valued at $151,655,000 after purchasing an additional 1,581,389 shares during the period. 94.19% of the stock is currently owned by institutional investors and hedge funds.

Core & Main Company Profile

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.