Core & Main (NYSE:CNM) PT Lowered to $50.00 at The Goldman Sachs Group

Core & Main (NYSE:CNM - Free Report) had its price target cut by The Goldman Sachs Group from $57.00 to $50.00 in a report released on Friday, Benzinga reports. They currently have a neutral rating on the stock.

A number of other equities analysts have also recently weighed in on CNM. JPMorgan Chase & Co. lowered their price target 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. Robert W. Baird lowered their price target on shares of Core & Main from $62.00 to $53.00 and set an outperform rating on the stock in a research note on Thursday. Bank of America lowered 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. Royal Bank of Canada lowered their price target on shares of Core & Main from $60.00 to $53.00 and set an outperform rating on the stock in a research note on Thursday. Finally, Barclays lowered their price target on shares of Core & Main from $65.00 to $57.00 and set an overweight rating on the stock in a research note on Thursday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of $47.82.

Core & Main Stock Performance

CNM traded up $0.05 during trading on Friday, hitting $38.05. The stock had a trading volume of 7,911,736 shares, compared to its average volume of 2,577,030. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.23 and a current ratio of 2.14. The firm has a market capitalization of $7.67 billion, a P/E ratio of 18.02, a PEG ratio of 1.82 and a beta of 1.04. The company's 50-day moving average price is $49.88 and its 200 day moving average price is $52.64. Core & Main has a twelve month low of $27.75 and a twelve month high of $62.15.

Core & Main (NYSE:CNM - Get Free Report) last announced its quarterly earnings data on Wednesday, September 4th. The company reported $0.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.13). The firm had revenue of $1.96 billion during 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 business's quarterly revenue was up 5.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.66 earnings per share. On average, equities research analysts forecast that Core & Main will post 2.32 EPS for the current fiscal year.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Rise Advisors LLC purchased a new position in Core & Main in the 1st quarter valued at about $27,000. Quadrant Capital Group LLC lifted its holdings in Core & Main by 74.5% in the 4th quarter. Quadrant Capital Group LLC now owns 855 shares of the company's stock valued at $35,000 after purchasing an additional 365 shares in the last quarter. ORG Partners LLC acquired a new position in shares of Core & Main during the 1st quarter valued at about $38,000. Principal Securities Inc. acquired a new position in shares of Core & Main during the 4th quarter valued at about $43,000. Finally, Brown Brothers Harriman & Co. acquired a new position in shares of Core & Main during the 2nd quarter valued at about $76,000. 94.19% of the stock is currently owned by hedge funds and other 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.