Core & Main (NYSE:CNM) Given New $65.00 Price Target at Robert W. Baird

Core & Main (NYSE:CNM) had its price target lowered by Robert W. Baird from $66.00 to $65.00 in a research report report published on Wednesday,Benzinga reports. Robert W. Baird currently has an outperform rating on the stock.

A number of other brokerages have also weighed in on CNM. Truist Financial raised their price objective on shares of Core & Main from $38.00 to $56.00 and gave the company a “hold” rating in a report on Wednesday, December 4th. Wells Fargo & Company lifted their price target on Core & Main from $62.00 to $65.00 and gave the stock an “overweight” rating in a report on Tuesday, February 4th. Royal Bank of Canada reiterated an “outperform” rating and issued a $62.00 price objective (up previously from $53.00) on shares of Core & Main in a report on Wednesday, December 4th. Citigroup boosted their target price on Core & Main from $43.00 to $56.00 and gave the stock a “neutral” rating in a research note on Monday, January 6th. Finally, Barclays increased their price target on shares of Core & Main from $57.00 to $65.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. One 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 stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $57.30.

Core & Main Price Performance

CNM opened at $48.46 on Wednesday. The stock’s 50-day moving average price is $51.87 and its 200 day moving average price is $48.81. Core & Main has a 12-month low of $37.22 and a 12-month high of $62.15. The firm has a market cap of $9.63 billion, a price-to-earnings ratio of 22.75, a PEG ratio of 2.61 and a beta of 1.05. The company has a current ratio of 2.14, a quick ratio of 1.28 and a debt-to-equity ratio of 1.36.

Core & Main (NYSE:CNM) last released its earnings results on Tuesday, March 25th. The company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). The business had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.67 billion. Core & Main had a return on equity of 24.71% and a net margin of 5.71%. Core & Main’s quarterly revenue was up 17.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.34 earnings per share. As a group, sell-side analysts expect that Core & Main will post 2.16 earnings per share for the current year.

Insider Buying and Selling at Core & Main

In other news, EVP John R. Schaller sold 60,452 shares of the firm’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $50.57, for a total value of $3,057,057.64. Following the completion of the sale, the executive vice president now owns 17,898 shares in the company, valued at approximately $905,101.86. This trade represents a 77.16 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Mark G. Whittenburg sold 50,000 shares of the stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $50.49, for a total transaction of $2,524,500.00. Following the transaction, the general counsel now directly owns 7,667 shares of the company’s stock, valued at $387,106.83. This represents a 86.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 184,294 shares of company stock valued at $9,383,685 in the last ninety days. Insiders own 3.49% of the company’s stock.

Institutional Investors Weigh In On Core & Main

Several institutional investors have recently made changes to their positions in CNM. Avior Wealth Management LLC boosted its holdings in Core & Main by 51.3% during the fourth quarter. Avior Wealth Management LLC now owns 799 shares of the company’s stock worth $41,000 after buying an additional 271 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Core & Main during the 3rd quarter valued at approximately $49,000. UMB Bank n.a. boosted its stake in shares of Core & Main by 246.0% during the 4th quarter. UMB Bank n.a. now owns 962 shares of the company’s stock worth $49,000 after acquiring an additional 684 shares in the last quarter. Quadrant Capital Group LLC grew its holdings in shares of Core & Main by 30.1% in the 4th quarter. Quadrant Capital Group LLC now owns 1,203 shares of the company’s stock worth $61,000 after acquiring an additional 278 shares during the period. Finally, Blue Trust Inc. grew its holdings in shares of Core & Main by 187.4% in the 4th quarter. Blue Trust Inc. now owns 1,273 shares of the company’s stock worth $65,000 after acquiring an additional 830 shares during the period. 94.19% of the stock is currently owned by hedge funds and other institutional investors.

Core & Main Company Profile

Core & Main, Inc is a specialty distributor focused on water, wastewater, storm drainage and fire protection products, and related services. The company provides infrastructure solutions to municipalities, private water companies and professional contractors across municipal, non-residential, and residential end markets, nationwide.