Core & Main, Inc. (NYSE:CNM) Stock Has Consensus Target Price of $54.70 According to Analysts

Shares of Core & Main, Inc. (NYSE:CNM) have earned a consensus rating of “Hold” from the thirteen analysts that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and seven have given a buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $54.40.

A number of analysts have commented on the company. Citigroup reduced their price objective on Core & Main from $53.00 to $46.00 and set a “neutral” rating for the company in a research report on Friday, September 11th. William Blair assumed coverage on Core & Main in a research report on Thursday, July 23rd. They set a “market perform” rating on the stock. Northcoast Research lowered Core & Main from a “buy” rating to a “neutral” rating in a research note on Wednesday, August 26th. Truist Financial reduced their target price on Core & Main from $50.00 to $45.00 and set a “hold” rating for the company in a research report on Thursday, September 10th. Finally, Wells Fargo & Company decreased their price target on shares of Core & Main from $65.00 to $48.00 and set an “overweight” rating on the stock in a research note on Thursday, September 10th.

Core & Main Stock Performance

NYSE:CNM opened at $40.61 on Monday. The firm’s 50-day moving average is $43.56 and its 200-day moving average is $46.63. The company has a market cap of $7.74 billion, a price-to-earnings ratio of 16.71, a PEG ratio of 1.76 and a beta of 0.91. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.51 and a current ratio of 2.47. Core & Main has a 52-week low of $39.42 and a 52-week high of $59.66.

Core & Main (NYSE:CNM) last released its earnings results on Wednesday, September 9th. The company reported $0.94 earnings per share for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $2.14 billion. During the same quarter last year, the company earned $0.87 earnings per share. The firm’s revenue was up 2.5% on a year-over-year basis. Equities research analysts anticipate that Core & Main will post 3 earnings per share for the current year.

Institutional Trading of Core & Main

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CNM. CX Institutional raised its position in Core & Main by 211,716.1% in the third quarter. CX Institutional now owns 118,617 shares of the company’s stock worth $4,920,000 after purchasing an additional 118,561 shares in the last quarter. SkyView Investment Advisors LLC acquired a new stake in Core & Main during the second quarter valued at approximately $145,000. WINTON GROUP Ltd boosted its holdings in Core & Main by 41.4% during the second quarter. WINTON GROUP Ltd now owns 46,061 shares of the company’s stock valued at $2,222,000 after purchasing an additional 13,482 shares in the last quarter. Squarepoint Ops LLC grew its stake in shares of Core & Main by 109.4% in the 2nd quarter. Squarepoint Ops LLC now owns 215,273 shares of the company’s stock valued at $10,387,000 after purchasing an additional 112,444 shares during the period. Finally, Allworth Financial LP grew its stake in shares of Core & Main by 176.7% in the 2nd quarter. Allworth Financial LP now owns 33,752 shares of the company’s stock valued at $1,629,000 after purchasing an additional 21,555 shares during the period. Institutional investors own 94.19% of the company’s stock.

About Core & Main

Core & Main, Inc (NYSE: CNM) is a specialized distributor of infrastructure products serving the water, wastewater, storm drainage, fire protection and related utility markets. The company supplies products used to build, repair and maintain essential public and private infrastructure across the United States.

Its product portfolio includes ductile iron and plastic pipe, valves, hydrants, water meters, fittings, and other waterworks components. Core & Main also distributes stormwater drainage products, fire protection equipment and related solutions.