Core & Main (NYSE:CNM) Price Target Raised to $65.00 at Barclays

Core & Main (NYSE:CNM) had its target price hoisted by investment analysts at Barclays from $57.00 to $65.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s price target suggests a potential upside of 16.53% from the stock’s previous close.

Several other equities analysts have also weighed in on CNM. Robert W. Baird boosted their target price on shares of Core & Main from $60.00 to $66.00 and gave the company an “outperform” rating in a report on Wednesday. Loop Capital decreased their price objective on shares of Core & Main from $64.00 to $52.00 and set a “buy” rating on the stock in a report on Thursday, September 5th. JPMorgan Chase & Co. decreased their price target on Core & Main from $54.00 to $52.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 3rd. Royal Bank of Canada dropped their price objective on Core & Main from $60.00 to $53.00 and set an “outperform” rating for the company in a research note on Thursday, September 5th. Finally, Truist Financial cut their price objective on Core & Main from $50.00 to $38.00 and set a “hold” rating on the stock in a research report on Thursday, September 5th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $52.60.

Core & Main Trading Up 15.5 %

Shares of Core & Main stock opened at $55.78 on Wednesday. The company has a debt-to-equity ratio of 1.40, a current ratio of 2.29 and a quick ratio of 1.34. The stock’s 50 day simple moving average is $44.80 and its 200-day simple moving average is $48.09. The stock has a market cap of $11.22 billion, a P/E ratio of 26.69, a P/E/G ratio of 3.14 and a beta of 1.04. Core & Main has a 1-year low of $35.03 and a 1-year high of $62.15.

Core & Main (NYSE:CNM) last issued its earnings results on Tuesday, December 3rd. The company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.04. The company had revenue of $2.04 billion during the quarter, compared to analysts’ expectations of $1.99 billion. Core & Main had a return on equity of 21.91% and a net margin of 5.58%. The firm’s quarterly revenue was up 11.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.65 EPS. Analysts predict that Core & Main will post 2.1 EPS for the current fiscal year.

Institutional Trading of Core & Main

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. QRG Capital Management Inc. raised its stake in shares of Core & Main by 1.9% during the second quarter. QRG Capital Management Inc. now owns 12,153 shares of the company’s stock worth $595,000 after purchasing an additional 228 shares during the last quarter. United Services Automobile Association lifted its position in Core & Main by 2.0% in the second quarter. United Services Automobile Association now owns 13,307 shares of the company’s stock valued at $651,000 after purchasing an additional 266 shares during the period. Andina Capital Management LLC increased its position in Core & Main by 3.5% during the 3rd quarter. Andina Capital Management LLC now owns 8,707 shares of the company’s stock worth $387,000 after purchasing an additional 294 shares during the period. CWM LLC lifted its holdings in shares of Core & Main by 25.6% in the 2nd quarter. CWM LLC now owns 1,638 shares of the company’s stock valued at $80,000 after buying an additional 334 shares during the period. Finally, GAMMA Investing LLC raised its position in Core & Main by 61.1% in the third quarter. GAMMA Investing LLC now owns 1,348 shares of the company’s stock worth $60,000 after acquiring an additional 511 shares in the last quarter. 94.19% of the stock is owned by hedge funds and other institutional investors.

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.