Core & Main, Inc. (NYSE:CNM) Stock Has Average Price Target of $54.40 According to Brokerages

Core & Main, Inc. (NYSE:CNM) has earned an average recommendation of “Hold” from the thirteen analysts that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating on the company. The average 1-year target price among analysts that have covered the stock in the last year is $54.40.

A number of brokerages recently issued reports on CNM. Northcoast Research lowered shares of Core & Main from a “buy” rating to a “neutral” rating in a research report on Wednesday, August 26th. Barclays dropped their price target on shares of Core & Main from $62.00 to $61.00 and set an “overweight” rating on the stock in a research report on Thursday, September 10th. Wolfe Research initiated coverage on shares of Core & Main in a research report on Tuesday, September 15th. They set an “outperform” rating and a $63.00 price target on the stock. Robert W. Baird reduced their price target on shares of 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, Wall Street Zen upgraded shares of Core & Main from a “hold” rating to a “buy” rating in a report on Sunday, October 18th.

Institutional Investors Weigh In On Core & Main

Institutional investors have recently added to or reduced their stakes in the company. Ethic Inc. grew its holdings in Core & Main by 148.0% during the third quarter. Ethic Inc. now owns 18,631 shares of the company’s stock worth $773,000 after acquiring an additional 11,118 shares during the period. CenterBook Partners LP raised its position in Core & Main by 447.2% in the third quarter. CenterBook Partners LP now owns 38,010 shares of the company’s stock worth $1,577,000 after acquiring an additional 31,064 shares in the last quarter. Kestra Advisory Services LLC bought a new stake in Core & Main in the third quarter worth about $418,000. Commonwealth Equity Services LLC raised its position in Core & Main by 7.4% in the third quarter. Commonwealth Equity Services LLC now owns 10,258 shares of the company’s stock worth $426,000 after acquiring an additional 708 shares in the last quarter. Finally, Boston Trust Walden Corp lifted its holdings in Core & Main by 177.8% in the 3rd quarter. Boston Trust Walden Corp now owns 439,722 shares of the company’s stock valued at $18,240,000 after acquiring an additional 281,441 shares during the last quarter. 94.19% of the stock is currently owned by institutional investors and hedge funds.

Core & Main Stock Down 0.5%

Shares of Core & Main stock opened at $44.94 on Friday. The business’s fifty day moving average price is $42.29 and its two-hundred day moving average price is $47.89. The company has a debt-to-equity ratio of 1.16, a current ratio of 2.47 and a quick ratio of 1.51. The company has a market capitalization of $8.56 billion, a P/E ratio of 18.49, a PEG ratio of 1.89 and a beta of 0.91. Core & Main has a 1-year low of $39.42 and a 1-year high of $59.66.

Core & Main (NYSE:CNM) last announced its quarterly earnings results 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. Core & Main had a return on equity of 25.98% and a net margin of 5.96%. The company had revenue of $2.15 billion during the quarter, compared to analyst estimates of $2.14 billion. During the same quarter in the previous year, the firm posted $0.87 EPS. The firm’s quarterly revenue was up 2.5% on a year-over-year basis. As a group, research analysts forecast that Core & Main will post 3.00 EPS for the current year.

Core & Main Company Profile

Core & Main, Inc is a distributor of specialized products for public and private infrastructure in the United States. The company primarily serves municipalities, contractors, and other customers involved in water, wastewater, storm drainage, and fire protection projects.

Its product offerings include water, sewer, and storm drainage pipe; valves, hydrants, and related waterworks products; fire protection equipment; and geosynthetic and other stormwater management products. Core & Main also provides product expertise, technical support, and related services to help customers plan and complete infrastructure projects.

The company traces its roots to the waterworks distribution business formerly operated by HD Supply.