Robert W. Baird Boosts Core & Main (NYSE:CNM) Price Target to $60.00

Core & Main (NYSE:CNM - Free Report) had its price target increased by Robert W. Baird from $53.00 to $60.00 in a research report report published on Wednesday, Benzinga reports. Robert W. Baird currently has an outperform rating on the stock.

CNM has been the subject of a number of other reports. Royal Bank of Canada dropped their price target on shares of Core & Main from $60.00 to $53.00 and set an "outperform" rating for the company in a research report on Thursday, September 5th. The Goldman Sachs Group cut their target price on Core & Main from $57.00 to $50.00 and set a "neutral" rating for the company in a research report on Friday, September 6th. Barclays dropped their price target on Core & Main from $65.00 to $57.00 and set an "overweight" rating for the company in a research note on Thursday, September 5th. JPMorgan Chase & Co. reduced their price objective on shares of Core & Main from $54.00 to $52.00 and set an "overweight" rating on the stock in a research note on Tuesday, September 3rd. Finally, Bank of America dropped 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 report on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $51.20.

Core & Main Stock Performance

NYSE CNM traded up $1.14 on Wednesday, reaching $46.35. The stock had a trading volume of 1,586,399 shares, compared to its average volume of 2,616,337. The company has a debt-to-equity ratio of 1.40, a current ratio of 2.29 and a quick ratio of 1.34. The company has a market cap of $9.34 billion, a P/E ratio of 21.40, a price-to-earnings-growth ratio of 2.83 and a beta of 1.02. The firm has a fifty day moving average of $45.48 and a two-hundred day moving average of $51.08. Core & Main has a 1-year low of $29.13 and a 1-year high of $62.15.

Core & Main (NYSE:CNM - Get Free Report) last released its quarterly earnings results on Wednesday, September 4th. The company reported $0.61 EPS 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 business had revenue of $1.96 billion during the quarter, compared to analyst estimates of $2.05 billion. During the same quarter last year, the company posted $0.66 earnings per share. The company's revenue was up 5.5% on a year-over-year basis. On average, equities research analysts anticipate that Core & Main will post 2.1 EPS for the current year.

Institutional Investors Weigh In On Core & Main

Several hedge funds have recently modified their holdings of CNM. Swedbank AB increased its holdings in Core & Main by 8.2% in the 3rd quarter. Swedbank AB now owns 1,782,100 shares of the company's stock worth $79,125,000 after purchasing an additional 135,000 shares in the last quarter. Washington Capital Management Inc. acquired a new position in shares of Core & Main in the third quarter valued at approximately $346,000. CX Institutional bought a new position in Core & Main in the 3rd quarter valued at approximately $3,804,000. Wedge Capital Management L L P NC bought a new stake in Core & Main during the 3rd quarter worth approximately $13,420,000. Finally, ORG Wealth Partners LLC acquired a new position in Core & Main during the 3rd quarter worth about $31,000. Institutional investors and hedge funds own 94.19% of the company's stock.

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.