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

Core & Main (NYSE:CNM - Free Report) had its price objective trimmed by Robert W. Baird from $66.00 to $65.00 in a research note published on Wednesday,Benzinga reports. The brokerage currently has an outperform rating on the stock.

Several other brokerages have also commented on CNM. The Goldman Sachs Group boosted their price target on Core & Main from $50.00 to $57.00 and gave the company a "neutral" rating in a research note on Thursday, December 5th. Barclays upped their target price on shares of Core & Main from $57.00 to $65.00 and gave the stock an "overweight" rating in a report on Wednesday, December 4th. Truist Financial lifted their price target 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. Citigroup upped their price objective on shares of Core & Main from $43.00 to $56.00 and gave the stock a "neutral" rating in a research note on Monday, January 6th. Finally, Wells Fargo & Company lifted their target price on shares of Core & Main from $62.00 to $65.00 and gave the company an "overweight" rating in a research note on Tuesday, February 4th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Core & Main has an average rating of "Moderate Buy" and a consensus price target of $57.30.

Remove Ads

Core & Main Stock Performance

Shares of Core & Main stock traded down $1.47 during trading on Wednesday, reaching $48.46. The company's stock had a trading volume of 2,285,425 shares, compared to its average volume of 2,270,730. The firm has a market cap of $9.63 billion, a price-to-earnings ratio of 22.75, a price-to-earnings-growth ratio of 2.61 and a beta of 1.05. The business's fifty day moving average price is $51.87 and its 200-day moving average price is $48.88. 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 one year low of $37.22 and a one year high of $62.15.

Core & Main (NYSE:CNM - Get Free Report) last announced its quarterly earnings data on Tuesday, March 25th. The company reported $0.33 EPS for the quarter, missing analysts' consensus estimates of $0.36 by ($0.03). The company had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.67 billion. Core & Main had a net margin of 5.71% and a return on equity of 24.71%. The firm's quarterly revenue was up 17.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.34 EPS. As a group, equities research analysts predict that Core & Main will post 2.16 earnings per share for the current year.

Insider Transactions at Core & Main

In other Core & Main news, EVP John R. Schaller sold 21,868 shares of the business's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $46.82, for a total transaction of $1,023,859.76. Following the completion of the sale, the executive vice president now directly owns 16,452 shares of the company's stock, valued at approximately $770,282.64. The trade was a 57.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, General Counsel Mark G. Whittenburg sold 50,000 shares of the company's stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $50.49, for a total transaction of $2,524,500.00. Following the transaction, the general counsel now owns 7,667 shares in the company, valued at approximately $387,106.83. The trade was 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 worth $9,383,685 over the last 90 days. 3.49% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Intech Investment Management LLC acquired a new position in Core & Main in the third quarter valued at about $541,000. Cerity Partners LLC boosted its stake in Core & Main by 53.9% during the 3rd quarter. Cerity Partners LLC now owns 31,728 shares of the company's stock worth $1,409,000 after acquiring an additional 11,118 shares during the last quarter. Summit Trail Advisors LLC grew its holdings in Core & Main by 11.8% during the third quarter. Summit Trail Advisors LLC now owns 8,923 shares of the company's stock valued at $396,000 after purchasing an additional 945 shares during the period. FMR LLC increased its stake in Core & Main by 28.0% in the third quarter. FMR LLC now owns 8,697,084 shares of the company's stock valued at $386,151,000 after purchasing an additional 1,903,280 shares in the last quarter. Finally, Forest Avenue Capital Management LP raised its holdings in Core & Main by 18.4% in the third quarter. Forest Avenue Capital Management LP now owns 1,122,251 shares of the company's stock worth $49,828,000 after purchasing an additional 174,082 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.