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

Core & Main, Inc. (NYSE:CNM - Get Free Report) has been given a consensus rating of "Moderate Buy" by the ten research firms that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $51.20.

A number of research analysts recently weighed in on the company. The Goldman Sachs Group reduced their price objective 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. Royal Bank of Canada reduced their price target on Core & Main from $60.00 to $53.00 and set an "outperform" rating for the company in a report on Thursday, September 5th. Robert W. Baird upped their price target on shares of Core & Main from $53.00 to $60.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 16th. Wells Fargo & Company began coverage on shares of Core & Main in a report on Monday, September 23rd. They issued an "overweight" rating and a $52.00 target price for the company. Finally, JPMorgan Chase & Co. cut their price target on shares of Core & Main from $54.00 to $52.00 and set an "overweight" rating on the stock in a report on Tuesday, September 3rd.

Core & Main Stock Up 0.8 %

CNM traded up $0.33 during trading on Monday, reaching $43.58. The stock had a trading volume of 2,037,925 shares, compared to its average volume of 2,541,559. Core & Main has a one year low of $29.60 and a one year high of $62.15. The company has a market capitalization of $8.77 billion, a price-to-earnings ratio of 20.85, a P/E/G ratio of 2.88 and a beta of 1.02. The company has a current ratio of 2.29, a quick ratio of 1.34 and a debt-to-equity ratio of 1.40. The stock's 50 day moving average is $44.00 and its two-hundred day moving average is $49.92.

Core & Main (NYSE:CNM - Get Free Report) last posted its quarterly earnings data 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 return on equity of 21.91% and a net margin of 5.58%. The business had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $2.05 billion. During the same period in the previous year, the firm earned $0.66 EPS. The company's revenue was up 5.5% on a year-over-year basis. As a group, analysts expect that Core & Main will post 2.1 earnings per share for the current year.

Hedge Funds Weigh In On Core & Main

Several hedge funds and other institutional investors have recently modified their holdings of the company. Ashton Thomas Securities LLC purchased a new stake in Core & Main during the third quarter valued at $26,000. ORG Wealth Partners LLC bought a new position in shares of Core & Main in the 3rd quarter worth approximately $31,000. ORG Partners LLC bought a new stake in Core & Main during the first quarter valued at approximately $38,000. GAMMA Investing LLC increased its holdings in Core & Main by 61.1% during the third quarter. GAMMA Investing LLC now owns 1,348 shares of the company's stock valued at $60,000 after buying an additional 511 shares during the last quarter. Finally, Brown Brothers Harriman & Co. bought a new position in Core & Main in the second quarter worth approximately $76,000. 94.19% of the stock is owned by institutional investors.

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.