Core & Main (NYSE:CNM) Raised to Hold at Zacks Research

Core & Main (NYSE:CNM) was upgraded by stock analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Monday, Zacks reports.

A number of other analysts also recently commented on the company. Wall Street Zen raised Core & Main from a “hold” rating to a “buy” rating in a research report on Sunday, October 18th. Royal Bank Of Canada dropped their price target on Core & Main from $60.00 to $57.00 and set an “outperform” rating on the stock in a report on Wednesday, October 7th. Citigroup cut their price objective on Core & Main from $53.00 to $46.00 and set a “neutral” rating on the stock in a research report on Friday, September 11th. Robert W. Baird reduced their price objective on Core & Main from $66.00 to $57.00 and set an “outperform” rating for the company in a research note on Thursday, September 10th. Finally, Jefferies Financial Group assumed coverage on Core & Main in a research report on Wednesday, November 4th. They set a “buy” rating and a $53.00 target price for the company. Eight analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $54.00.

Core & Main Trading Down 1.1%

Shares of CNM stock opened at $47.38 on Monday. Core & Main has a 52-week low of $39.42 and a 52-week high of $59.66. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.51 and a current ratio of 2.47. The company has a 50-day simple moving average of $42.68 and a two-hundred day simple moving average of $47.62. The company has a market capitalization of $9.02 billion, a price-to-earnings ratio of 19.50, a PEG ratio of 2.00 and a beta of 0.91.

Core & Main (NYSE:CNM) last posted its quarterly earnings data on Wednesday, September 9th. The company reported $0.94 EPS for the quarter, beating the consensus estimate 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 quarter last year, the business posted $0.87 EPS. The company’s revenue for the quarter was up 2.5% on a year-over-year basis. Research analysts anticipate that Core & Main will post 3.00 EPS for the current fiscal year.

Institutional Investors Weigh In On Core & Main

Several large investors have recently modified their holdings of CNM. First Trust Advisors LP raised its holdings in shares of Core & Main by 15.3% in the 1st quarter. First Trust Advisors LP now owns 6,130,840 shares of the company’s stock worth $302,863,000 after purchasing an additional 812,770 shares during the period. Impax Asset Management Group plc lifted its stake in Core & Main by 14.9% in the third quarter. Impax Asset Management Group plc now owns 4,829,730 shares of the company’s stock valued at $200,337,000 after purchasing an additional 626,112 shares during the last quarter. KBC Group NV grew its holdings in Core & Main by 4.5% during the first quarter. KBC Group NV now owns 2,737,992 shares of the company’s stock valued at $135,257,000 after purchasing an additional 119,076 shares during the period. Bessemer Group Inc. grew its holdings in Core & Main by 2.8% during the first quarter. Bessemer Group Inc. now owns 2,663,161 shares of the company’s stock valued at $131,561,000 after purchasing an additional 72,712 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in Core & Main by 6.1% in the first quarter. Dimensional Fund Advisors LP now owns 2,661,022 shares of the company’s stock worth $131,425,000 after buying an additional 152,077 shares during the last quarter. Hedge funds and other institutional investors own 94.19% of the company’s stock.

Core & Main Company Profile

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.