Core & Main (NYSE:CNM) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Core & Main (NYSE:CNM) from a hold rating to a buy rating in a research note released on Saturday morning,Wall Street Zen reports.

Other research analysts have also issued reports about the company. Barclays lowered their price objective on Core & Main from $62.00 to $61.00 and set an “overweight” rating for the company in a research report on Thursday, September 10th. The Goldman Sachs Group restated a “neutral” rating and set a $53.00 target price on shares of Core & Main in a research report on Thursday, September 10th. Royal Bank Of Canada decreased their target price on Core & Main from $63.00 to $60.00 and set an “outperform” rating for the company in a research note on Thursday, September 10th. Zacks Research downgraded Core & Main from a “hold” rating to a “strong sell” rating in a report on Monday, September 14th. Finally, Robert W. Baird lowered their target price on Core & Main from $66.00 to $57.00 and set an “outperform” rating for the company in a report on Thursday, September 10th. Seven analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $54.70.

Core & Main Trading Down 0.5%

CNM opened at $42.44 on Friday. Core & Main has a twelve month low of $40.03 and a twelve month high of $59.66. The company has a quick ratio of 1.51, a current ratio of 2.47 and a debt-to-equity ratio of 1.16. The company has a fifty day moving average of $43.83 and a 200-day moving average of $46.95. The stock has a market cap of $8.08 billion, a PE ratio of 17.46, a price-to-earnings-growth ratio of 1.78 and a beta of 0.91.

Core & Main (NYSE:CNM) last announced its earnings results on Wednesday, September 9th. The company reported $0.94 earnings per share 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 net margin of 5.96% and a return on equity of 25.98%. Core & Main’s quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.87 earnings per share. On average, sell-side analysts predict that Core & Main will post 3 EPS for the current year.

Insider Activity

In other news, Director James Hope bought 2,067 shares of Core & Main stock in a transaction dated Monday, July 6th. The stock was bought at an average cost of $46.01 per share, for a total transaction of $95,102.67. Following the purchase, the director directly owned 11,805 shares in the company, valued at approximately $543,148.05. This represents a 21.23% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.51% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Fifth Third Wealth Advisors LLC increased its stake in Core & Main by 4.8% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 5,726 shares of the company’s stock worth $283,000 after acquiring an additional 261 shares during the last quarter. State of Michigan Retirement System raised its holdings in shares of Core & Main by 0.7% in the 1st quarter. State of Michigan Retirement System now owns 45,400 shares of the company’s stock valued at $2,243,000 after acquiring an additional 300 shares in the last quarter. Root Financial Partners LLC boosted its position in shares of Core & Main by 111.6% during the 1st quarter. Root Financial Partners LLC now owns 895 shares of the company’s stock valued at $44,000 after acquiring an additional 472 shares during the last quarter. Bryn Mawr Trust Advisors LLC boosted its position in shares of Core & Main by 7.4% during the 1st quarter. Bryn Mawr Trust Advisors LLC now owns 6,954 shares of the company’s stock valued at $344,000 after acquiring an additional 478 shares during the last quarter. Finally, Granite Investment Partners LLC grew its holdings in shares of Core & Main by 12.7% during the first quarter. Granite Investment Partners LLC now owns 5,751 shares of the company’s stock worth $284,000 after purchasing an additional 648 shares in the last quarter. Institutional investors own 94.19% of the company’s stock.

About Core & Main

Core & Main, Inc (NYSE: CNM) is a specialized distributor of water, wastewater, storm drainage and fire protection products in the United States. The company supplies infrastructure materials used in the construction, maintenance and repair of public and private utility systems.

Its product offerings include ductile iron and PVC pipe, valves, hydrants, water meters, storm drainage systems, pipe fittings, fire protection equipment and related products. Core & Main also provides services such as product sourcing, technical support, fabrication, field assistance and inventory management to help customers complete infrastructure projects.

Core & Main serves municipalities, utility contractors, water and wastewater authorities, private water companies, civil and site-development contractors, and other industrial customers through a nationwide distribution network.