Loop Capital Cuts Core & Main (NYSE:CNM) Price Target to $52.00

Core & Main (NYSE:CNM - Free Report) had its price objective decreased by Loop Capital from $64.00 to $52.00 in a report issued on Thursday, Benzinga reports. Loop Capital currently has a buy rating on the stock.

Other equities research analysts also recently issued reports about the company. JPMorgan Chase & Co. lowered their price target on Core & Main from $54.00 to $52.00 and set an overweight rating for the company in a report on Tuesday. Bank of America cut their price target on shares of Core & Main from $38.00 to $34.00 and set an underperform rating on the stock in a research note on Thursday. Barclays dropped their price objective on shares of Core & Main from $65.00 to $57.00 and set an overweight rating on the stock in a report on Thursday. Royal Bank of Canada reaffirmed an outperform rating and issued a $60.00 target price on shares of Core & Main in a research note on Wednesday, June 5th. Finally, Robert W. Baird dropped their price target on Core & Main from $62.00 to $53.00 and set an outperform rating on the stock in a research note on Thursday. One 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 company has an average rating of Moderate Buy and a consensus target price of $48.82.

Core & Main Trading Down 3.6 %

NYSE:CNM traded down $1.41 during mid-day trading on Thursday, hitting $37.99. The company had a trading volume of 8,047,595 shares, compared to its average volume of 2,545,824. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.23 and a current ratio of 2.14. Core & Main has a fifty-two week low of $27.75 and a fifty-two week high of $62.15. The firm has a market cap of $7.65 billion, a P/E ratio of 18.28, a P/E/G ratio of 1.82 and a beta of 1.06. The business's fifty day moving average is $50.10 and its two-hundred day moving average is $52.74.

Core & Main (NYSE:CNM - Get Free Report) last issued its quarterly earnings data on Wednesday, September 4th. The company reported $0.61 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.74 by ($0.13). The firm had revenue of $1.96 billion for the quarter, compared to analyst estimates of $2.05 billion. Core & Main had a net margin of 5.53% and a return on equity of 20.01%. The firm's revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.66 EPS. As a group, research analysts expect that Core & Main will post 2.32 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director James G. Castellano sold 12,500 shares of the firm's stock in a transaction on Monday, July 15th. The shares were sold at an average price of $52.22, for a total value of $652,750.00. Following the completion of the transaction, the director now directly owns 11,769 shares of the company's stock, valued at $614,577.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 3.49% of the company's stock.

Institutional Investors Weigh In On Core & Main

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Core & Main by 35.2% during the first quarter. Vanguard Group Inc. now owns 18,138,994 shares of the company's stock worth $1,038,457,000 after purchasing an additional 4,721,510 shares during the period. Select Equity Group L.P. boosted its holdings in shares of Core & Main by 0.3% during the 2nd quarter. Select Equity Group L.P. now owns 15,426,777 shares of the company's stock worth $754,986,000 after buying an additional 39,475 shares during the period. Capital International Investors grew its stake in Core & Main by 470.6% in the 1st quarter. Capital International Investors now owns 5,093,278 shares of the company's stock valued at $291,590,000 after buying an additional 4,200,591 shares during the last quarter. Pacer Advisors Inc. raised its holdings in Core & Main by 37.1% in the 2nd quarter. Pacer Advisors Inc. now owns 4,208,698 shares of the company's stock valued at $205,974,000 after acquiring an additional 1,137,817 shares during the period. Finally, Anomaly Capital Management LP boosted its holdings in shares of Core & Main by 35.9% during the second quarter. Anomaly Capital Management LP now owns 3,608,523 shares of the company's stock worth $176,601,000 after acquiring an additional 953,489 shares during the period. 94.19% of the stock is currently owned by institutional investors and hedge funds.

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.