Robert W. Baird Cuts Core & Main (NYSE:CNM) Price Target to $53.00

Core & Main (NYSE:CNM) had its price target decreased by Robert W. Baird from $62.00 to $53.00 in a research report report published on Thursday, Benzinga reports. Robert W. Baird currently has an outperform rating on the stock.

A number of other research analysts have also commented on CNM. Truist Financial lowered their price target on Core & Main from $56.00 to $50.00 and set a hold rating on the stock in a report on Wednesday, June 5th. JPMorgan Chase & Co. lowered their price target on Core & Main from $54.00 to $52.00 and set an overweight rating on the stock in a report on Tuesday, September 3rd. Finally, Royal Bank of Canada reissued an outperform rating and set a $60.00 price target on shares of Core & Main in a report on Wednesday, June 5th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Core & Main has an average rating of Moderate Buy and an average target price of $49.30.

Core & Main Stock Performance

CNM stock opened at $38.05 on Thursday. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.23 and a current ratio of 2.14. The stock has a market capitalization of $7.67 billion, a price-to-earnings ratio of 17.78, a PEG ratio of 1.82 and a beta of 1.04. Core & Main has a 1 year low of $27.75 and a 1 year high of $62.15. The stock’s fifty day moving average is $49.66 and its two-hundred day moving average is $52.70.

Core & Main (NYSE:CNM) last issued its quarterly earnings results on Wednesday, September 4th. The company reported $0.61 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.13). The business had revenue of $1.96 billion for the quarter, compared to analyst estimates of $2.05 billion. Core & Main had a net margin of 5.53% and a return on equity of 20.01%. Core & Main’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period last year, the business posted $0.66 earnings per share. On average, research analysts predict that Core & Main will post 2.32 EPS for the current year.

Insider Activity at Core & Main

In other Core & Main news, Director James G. Castellano sold 12,500 shares of the firm’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $52.22, for a total transaction of $652,750.00. Following the completion of the sale, the director now directly owns 11,769 shares in the company, valued at approximately $614,577.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.49% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Core & Main

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Core & Main by 35.2% during the 1st quarter. Vanguard Group Inc. now owns 18,138,994 shares of the company’s stock valued at $1,038,457,000 after buying an additional 4,721,510 shares during the last quarter. Select Equity Group L.P. lifted its holdings in shares of Core & Main by 0.3% during the 2nd quarter. Select Equity Group L.P. now owns 15,426,777 shares of the company’s stock valued at $754,986,000 after buying an additional 39,475 shares during the last quarter. Capital International Investors lifted its holdings in shares of Core & Main by 470.6% during the 1st quarter. Capital International Investors now owns 5,093,278 shares of the company’s stock valued at $291,590,000 after buying an additional 4,200,591 shares during the last quarter. Pacer Advisors Inc. lifted its holdings in shares of Core & Main by 37.1% during the 2nd quarter. Pacer Advisors Inc. now owns 4,208,698 shares of the company’s stock valued at $205,974,000 after buying an additional 1,137,817 shares during the last quarter. Finally, Anomaly Capital Management LP lifted its holdings in shares of Core & Main by 35.9% during the 2nd quarter. Anomaly Capital Management LP now owns 3,608,523 shares of the company’s stock valued at $176,601,000 after buying an additional 953,489 shares during the last quarter. 94.19% of the stock is currently owned by institutional investors and hedge funds.

About Core & Main

Core & Main, Inc distributes water, wastewater, storm drainage, and fire protection products and related services to municipalities, private water companies, and professional contractors in the municipal, non-residential, and residential end markets in the United States. Its products portfolio include pipes, valves, hydrants, fittings, and other products and services; storm drainage products, such as corrugated piping systems, retention basins, inline drains, manholes, grates, geosynthetics, erosion control, and other related products; fire protection products, including fire protection pipes, and sprinkler heads and devices, as well as fabrication services; and meter products, such as smart meter products, meter sets, meter accessories, installation, software, and other services.