Core & Main’s (CNM) “Outperform” Rating Reiterated at Wolfe Research

Wolfe Research reissued their outperform rating on shares of Core & Main (NYSE:CNM) in a research note published on Tuesday morning,Benzinga reports. The firm currently has a $63.00 price target on the stock.

Several other equities analysts have also weighed in on CNM. Citigroup cut their price objective on shares of Core & Main from $53.00 to $46.00 and set a “neutral” rating on the stock in a research report on Friday, September 11th. Deutsche Bank Aktiengesellschaft set a $55.00 target price on shares of Core & Main in a research report on Thursday, September 10th. Robert W. Baird decreased their price target on Core & Main from $66.00 to $57.00 and set an “outperform” rating for the company in a research note on Thursday, September 10th. Royal Bank Of Canada lowered their price objective on Core & Main from $63.00 to $60.00 and set an “outperform” rating on the stock in a report on Thursday, September 10th. Finally, Truist Financial cut their price objective on Core & Main from $50.00 to $45.00 and set a “hold” rating on the stock in a research note on Thursday, September 10th. Eight investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $55.64.

Core & Main Trading Up 0.2%

Shares of NYSE CNM opened at $42.92 on Tuesday. The company has a quick ratio of 1.51, a current ratio of 2.47 and a debt-to-equity ratio of 1.16. Core & Main has a 12 month low of $40.03 and a 12 month high of $59.66. The company has a market cap of $8.31 billion, a price-to-earnings ratio of 17.66, a P/E/G ratio of 1.79 and a beta of 0.91. The business has a fifty day simple moving average of $44.18 and a 200-day simple moving average of $47.41.

Core & Main (NYSE:CNM) last issued its earnings results on Wednesday, September 9th. The company reported $0.94 EPS for the quarter, topping the consensus estimate of $0.91 by $0.03. Core & Main had a return on equity of 25.98% and a net margin of 5.96%.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 firm posted $0.87 earnings per share. Core & Main’s revenue was up 2.5% compared to the same quarter last year. Sell-side analysts predict that Core & Main will post 3 EPS for the current year.

Insider Transactions at Core & Main

In other news, Director James Hope bought 2,067 shares of the stock in a transaction dated Monday, July 6th. The shares were acquired at an average price of $46.01 per share, with a total value of $95,102.67. Following the acquisition, the director owned 11,805 shares in the company, valued at $543,148.05. This trade represents a 21.23% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.51% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Core & Main

Institutional investors and hedge funds have recently bought and sold shares of the business. Root Financial Partners LLC lifted its position in shares of Core & Main by 111.6% during the first quarter. Root Financial Partners LLC now owns 895 shares of the company’s stock worth $44,000 after purchasing an additional 472 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of Core & Main by 377.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,679 shares of the company’s stock valued at $87,000 after acquiring an additional 1,327 shares during the last quarter. Eurizon Capital SGR S.p.A. acquired a new stake in shares of Core & Main during the 4th quarter valued at approximately $92,000. Covestor Ltd raised its position in shares of Core & Main by 30.8% during the 4th quarter. Covestor Ltd now owns 1,913 shares of the company’s stock valued at $99,000 after acquiring an additional 450 shares in the last quarter. Finally, SkyView Investment Advisors LLC bought a new position in Core & Main during the second quarter worth $145,000. Institutional investors and hedge funds own 94.19% of the company’s stock.

Core & Main Company Profile

Core & Main, Inc (NYSE: CNM) is a specialized distributor of water, wastewater, storm drainage and fire protection products in the United States. The company supplies infrastructure materials used in the construction, maintenance and repair of public and private utility systems.

Its product offerings include ductile iron and PVC pipe, valves, hydrants, water meters, storm drainage systems, pipe fittings, fire protection equipment and related products. Core & Main also provides services such as product sourcing, technical support, fabrication, field assistance and inventory management to help customers complete infrastructure projects.

Core & Main serves municipalities, utility contractors, water and wastewater authorities, private water companies, civil and site-development contractors, and other industrial customers through a nationwide distribution network.