Core & Main, Inc. (NYSE:CNM) Receives $51.20 Consensus Price Target from Analysts

Core & Main, Inc. (NYSE:CNM - Get Free Report) has earned an average recommendation of "Moderate Buy" from the ten analysts that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and six have issued a buy recommendation on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $51.20.

A number of research analysts recently commented on the company. Truist Financial lowered their price objective on Core & Main from $50.00 to $38.00 and set a "hold" rating for the company in a research note on Thursday, September 5th. JPMorgan Chase & Co. lowered their price objective on Core & Main from $54.00 to $52.00 and set an "overweight" rating on the stock in a report 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 on the stock in a research report on Thursday, September 5th. Wells Fargo & Company started coverage on shares of Core & Main in a research note on Monday, September 23rd. They set an "overweight" rating and a $52.00 price target on the stock. Finally, The Goldman Sachs Group cut 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.

Hedge Funds Weigh In On Core & Main

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. QRG Capital Management Inc. grew its holdings in shares of Core & Main by 1.9% in the second quarter. QRG Capital Management Inc. now owns 12,153 shares of the company's stock valued at $595,000 after purchasing an additional 228 shares in the last quarter. United Services Automobile Association increased its stake in shares of Core & Main by 2.0% during the second quarter. United Services Automobile Association now owns 13,307 shares of the company's stock valued at $651,000 after buying an additional 266 shares during the period. Andina Capital Management LLC increased its stake in shares of Core & Main by 3.5% during the third quarter. Andina Capital Management LLC now owns 8,707 shares of the company's stock valued at $387,000 after buying an additional 294 shares during the period. CWM LLC grew its stake in Core & Main by 25.6% in the second quarter. CWM LLC now owns 1,638 shares of the company's stock valued at $80,000 after purchasing an additional 334 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in Core & Main by 61.1% in the third quarter. GAMMA Investing LLC now owns 1,348 shares of the company's stock valued at $60,000 after purchasing an additional 511 shares during the last quarter. Institutional investors own 94.19% of the company's stock.

Core & Main Stock Up 3.0 %

CNM stock traded up $1.42 during midday trading on Friday, reaching $48.53. 1,956,639 shares of the company were exchanged, compared to its average volume of 2,558,897. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.34 and a current ratio of 2.29. The company has a market cap of $9.76 billion, a price-to-earnings ratio of 23.23, a price-to-earnings-growth ratio of 3.07 and a beta of 1.02. The stock's 50-day simple moving average is $44.61 and its 200 day simple moving average is $48.43. Core & Main has a 1-year low of $34.32 and a 1-year high of $62.15.

Core & Main (NYSE:CNM - Get Free Report) last announced its earnings results on Wednesday, September 4th. The company reported $0.61 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.13). Core & Main had a net margin of 5.58% and a return on equity of 21.91%. The firm had revenue of $1.96 billion during the quarter, compared to analyst estimates of $2.05 billion. During the same period in the previous year, the firm posted $0.66 EPS. The company's revenue for the quarter was up 5.5% compared to the same quarter last year. On average, equities analysts forecast that Core & Main will post 2.1 earnings per share for the current year.

Core & Main Company Profile

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.