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

Zacks Research upgraded shares of Core & Main (NYSE:CNM) from a strong sell rating to a hold rating in a research report released on Monday,Zacks reports.

CNM has been the topic of several other research reports. Wolfe Research began coverage on Core & Main in a report on Tuesday, September 15th. They set an “outperform” rating and a $63.00 target price on the stock. Barclays decreased their price target on Core & Main from $62.00 to $61.00 and set an “overweight” rating for the company in a research note on Thursday, September 10th. Truist Financial lowered their price target on Core & Main from $50.00 to $45.00 and set a “hold” rating on the stock in a research report on Thursday, September 10th. William Blair initiated coverage on Core & Main in a research report on Thursday, July 23rd. They set a “market perform” rating on the stock. Finally, Robert W. Baird dropped their price objective on Core & Main from $66.00 to $57.00 and set an “outperform” rating on the stock in a research note on Thursday, September 10th. Eight investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, Core & Main has an average rating of “Moderate Buy” and a consensus price target of $54.27.

Core & Main Stock Performance

CNM opened at $47.38 on Monday. 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 $9.02 billion, a price-to-earnings ratio of 19.50, a P/E/G ratio of 2.00 and a beta of 0.91. The business’s 50-day moving average price is $42.68 and its two-hundred day moving average price is $47.62. 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 earnings results on Wednesday, September 9th. The company reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.03. The business had revenue of $2.15 billion for the quarter, compared to analyst estimates of $2.14 billion. Core & Main had a return on equity of 25.98% and a net margin of 5.96%. During the same quarter last year, the firm earned $0.87 EPS. Core & Main’s revenue for the quarter was up 2.5% compared to the same quarter last year. Equities analysts expect that Core & Main will post 3.00 EPS for the current fiscal year.

Institutional Trading of Core & Main

A number of hedge funds have recently made changes to their positions in CNM. California State Teachers Retirement System lifted its holdings in Core & Main by 22.3% during the 1st quarter. California State Teachers Retirement System now owns 219,934 shares of the company’s stock valued at $10,865,000 after purchasing an additional 40,050 shares during the last quarter. KBC Group NV increased its holdings in shares of Core & Main by 4.5% in 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 last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Core & Main in the second quarter valued at $4,461,000. Wellington Management Group LLP increased its holdings in shares of Core & Main by 52.5% in the second quarter. Wellington Management Group LLP now owns 251,724 shares of the company’s stock valued at $12,146,000 after purchasing an additional 86,672 shares during the last quarter. Finally, Bornite Capital Management LP bought a new position in shares of Core & Main in the second quarter valued at about $36,622,000. 94.19% of the stock is owned by institutional investors and hedge funds.

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.