Core & Main (NYSE:CNM) Stock Price Target Lowered at Barclays

Core & Main (NYSE:CNM) had its price objective decreased by Barclays from $61.00 to $60.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s price target points to a potential upside of 31.89% from the stock’s current price.

A number of other equities analysts have also commented on CNM. Truist Financial decreased their price objective on shares of Core & Main from $50.00 to $45.00 and set a “hold” rating for the company in a research note on Thursday, September 10th. Wolfe Research started coverage on shares of Core & Main in a research report on Tuesday, September 15th. They set an “outperform” rating and a $63.00 price objective on the stock. Zacks Research raised shares of Core & Main from a “strong sell” rating to a “hold” rating in a research note on Monday. The Goldman Sachs Group reissued a “neutral” rating and set a $53.00 target price on shares of Core & Main in a research note on Thursday, September 10th. Finally, Robert W. Baird reduced their target price on Core & Main from $57.00 to $54.00 and set an “outperform” rating for the company in a report on Wednesday. Eight equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $53.91.

Core & Main Trading Down 4.1%

Shares of CNM traded down $1.95 during midday trading on Wednesday, hitting $45.49. The stock had a trading volume of 509,128 shares, compared to its average volume of 2,343,631. Core & Main has a fifty-two week low of $39.42 and a fifty-two week high of $59.66. The business has a 50-day simple moving average of $42.68 and a two-hundred day simple moving average of $47.62. The firm has a market cap of $8.67 billion, a P/E ratio of 18.72, a price-to-earnings-growth ratio of 2.00 and a beta of 0.91. The company has a current ratio of 2.47, a quick ratio of 1.51 and a debt-to-equity ratio of 1.16.

Core & Main (NYSE:CNM) last released its earnings results on Wednesday, September 9th. The company reported $0.94 earnings per share for the quarter, topping 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 business had revenue of $2.15 billion for the quarter, compared to the consensus estimate of $2.14 billion. During the same period last year, the firm posted $0.87 earnings per share. The firm’s quarterly revenue was up 2.5% compared to the same quarter last year. As a group, equities analysts forecast that Core & Main will post 3.00 EPS for the current year.

Hedge Funds Weigh In On Core & Main

Large investors have recently made changes to their positions in the business. Allworth Financial LP increased its holdings in shares of Core & Main by 0.7% in the 3rd quarter. Allworth Financial LP now owns 33,990 shares of the company’s stock valued at $1,410,000 after purchasing an additional 238 shares during the period. State of Michigan Retirement System boosted its holdings in shares of Core & Main by 0.7% during the first quarter. State of Michigan Retirement System now owns 45,400 shares of the company’s stock worth $2,243,000 after purchasing an additional 300 shares during the period. Bryn Mawr Trust Advisors LLC boosted its holdings in shares of Core & Main by 7.4% during the first quarter. Bryn Mawr Trust Advisors LLC now owns 6,954 shares of the company’s stock worth $344,000 after purchasing an additional 478 shares during the period. Nisa Investment Advisors LLC grew its position in Core & Main by 42.9% during the third quarter. Nisa Investment Advisors LLC now owns 1,615 shares of the company’s stock valued at $67,000 after purchasing an additional 485 shares in the last quarter. Finally, Hedeker Wealth LLC grew its position in Core & Main by 7.2% during the third quarter. Hedeker Wealth LLC now owns 8,985 shares of the company’s stock valued at $373,000 after purchasing an additional 603 shares in the last quarter. Institutional investors and hedge funds 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.