Core & Main, Inc. (NYSE:CNM) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Core & Main, Inc. (NYSE:CNM) has been assigned an average rating of “Moderate Buy” from the ten research firms that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and six have given a buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $51.20.

CNM has been the subject of a number of analyst reports. JPMorgan Chase & Co. decreased their price target on Core & Main from $54.00 to $52.00 and set an “overweight” rating for the company in a research note on Tuesday, September 3rd. Bank of America decreased their target price on shares of Core & Main from $38.00 to $34.00 and set an “underperform” rating for the company in a research note on Thursday, September 5th. Royal Bank of Canada dropped their price target on shares of Core & Main from $60.00 to $53.00 and set an “outperform” rating on the stock in a research report on Thursday, September 5th. Truist Financial decreased their price objective on shares of Core & Main from $50.00 to $38.00 and set a “hold” rating for the company in a research report on Thursday, September 5th. Finally, The Goldman Sachs Group dropped their target price on shares of Core & Main from $57.00 to $50.00 and set a “neutral” rating on the stock in a report on Friday, September 6th.

Institutional Investors Weigh In On Core & Main

Several hedge funds have recently bought and sold shares of the stock. Ashton Thomas Securities LLC acquired a new position in shares of Core & Main in the third quarter valued at approximately $26,000. ORG Wealth Partners LLC bought a new stake in Core & Main in the 3rd quarter valued at $31,000. Wilmington Savings Fund Society FSB bought a new stake in Core & Main in the 3rd quarter valued at $49,000. GAMMA Investing LLC grew its holdings in Core & Main by 61.1% in the 3rd quarter. GAMMA Investing LLC now owns 1,348 shares of the company’s stock valued at $60,000 after buying an additional 511 shares in the last quarter. Finally, Brown Brothers Harriman & Co. bought a new position in Core & Main during the 2nd quarter worth $76,000. 94.19% of the stock is currently owned by institutional investors and hedge funds.

Core & Main Stock Performance

Shares of CNM stock opened at $47.11 on Friday. The firm has a market cap of $9.48 billion, a PE ratio of 22.54, a P/E/G ratio of 3.09 and a beta of 1.02. Core & Main has a 12 month low of $34.02 and a 12 month high of $62.15. The company’s fifty day simple moving average is $44.57 and its 200-day simple moving average is $48.44. The company has a quick ratio of 1.34, a current ratio of 2.29 and a debt-to-equity ratio of 1.40.

Core & Main (NYSE:CNM) last posted its quarterly earnings data 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 return on equity of 21.91% and a net margin of 5.58%. The company’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.66 earnings per share. Equities research analysts expect that Core & Main will post 2.1 EPS for the current fiscal year.

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.