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

Core & Main (NYSE:CNM) had its price target lowered by stock analysts at Robert W. Baird from $66.00 to $65.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Robert W. Baird’s price objective suggests a potential upside of 30.11% from the company’s current price.

Several other analysts have also recently commented on the company. Wells Fargo & Company raised their target price on Core & Main from $62.00 to $65.00 and gave the company an “overweight” rating in a research report on Tuesday, February 4th. Citigroup increased their price target on Core & Main from $43.00 to $56.00 and gave the stock a “neutral” rating in a research note on Monday, January 6th. Loop Capital lifted their price objective on shares of Core & Main from $52.00 to $63.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. The Goldman Sachs Group increased their target price on shares of Core & Main from $50.00 to $57.00 and gave the company a “neutral” rating in a research report on Thursday, December 5th. Finally, Truist Financial raised their target price on shares of Core & Main from $38.00 to $56.00 and gave the company a “hold” rating in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $57.30.

Core & Main Stock Performance

Shares of CNM opened at $49.96 on Wednesday. The firm has a fifty day moving average of $52.00 and a 200-day moving average of $48.74. The company has a market cap of $9.92 billion, a price-to-earnings ratio of 23.45, a price-to-earnings-growth ratio of 2.61 and a beta of 1.05. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.28 and a current ratio of 2.14. Core & Main has a 1 year low of $37.22 and a 1 year high of $62.15.

Core & Main (NYSE:CNM) last posted 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). Core & Main had a net margin of 5.71% and a return on equity of 24.71%. The firm had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.67 billion. During the same period in the previous year, the firm earned $0.34 earnings per share. The company’s revenue for the quarter was up 17.9% on a year-over-year basis. As a group, equities analysts anticipate that Core & Main will post 2.16 earnings per share for the current year.

Insider Buying and Selling

In related news, General Counsel Mark G. Whittenburg sold 50,000 shares of the stock in a transaction on Friday, January 10th. The stock was sold at an average price of $50.49, for a total value of $2,524,500.00. Following the completion of the transaction, the general counsel now owns 7,667 shares in the company, valued at $387,106.83. This trade represents a 86.70 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, President Bradford A. Cowles sold 12,500 shares of Core & Main stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $50.50, for a total value of $631,250.00. Following the completion of the transaction, the president now directly owns 16,010 shares in the company, valued at $808,505. This represents a 43.84 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 184,294 shares of company stock worth $9,383,685. Corporate insiders own 3.49% of the company’s stock.

Hedge Funds Weigh In On Core & Main

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CNM. Avior Wealth Management LLC raised its stake in Core & Main by 51.3% during the 4th quarter. Avior Wealth Management LLC now owns 799 shares of the company’s stock valued at $41,000 after purchasing an additional 271 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in Core & Main during the third quarter valued at $49,000. UMB Bank n.a. raised its position in Core & Main by 246.0% during the fourth quarter. UMB Bank n.a. now owns 962 shares of the company’s stock valued at $49,000 after buying an additional 684 shares during the period. Quadrant Capital Group LLC lifted its stake in 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 in the last quarter. Finally, Blue Trust Inc. boosted its position in Core & Main by 187.4% during 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. Institutional investors and hedge funds own 94.19% of the company’s stock.

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.