Core & Main, Inc. (NYSE:CNM) Stock Has Consensus Price Target of $54.70 According to Analysts

Core & Main, Inc. (NYSE:CNM) has earned a consensus recommendation of “Hold” from the thirteen research firms that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $54.40.

Several equities analysts have recently weighed in on CNM shares. Wall Street Zen cut shares of Core & Main from a “buy” rating to a “hold” rating in a research note on Saturday. Zacks Research cut shares of Core & Main from a “hold” rating to a “strong sell” rating in a report on Monday, September 14th. Wells Fargo & Company decreased their target price on shares of Core & Main from $65.00 to $48.00 and set an “overweight” rating for the company in a research report on Thursday, September 10th. Citigroup lowered their price target on shares of Core & Main from $53.00 to $46.00 and set a “neutral” rating on the stock in a research note on Friday, September 11th. Finally, Wolfe Research reissued an “outperform” rating and set a $63.00 price target on shares of Core & Main in a research report on Tuesday, September 15th.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CNM. Capital World Investors raised its stake in Core & Main by 5.8% in the fourth quarter. Capital World Investors now owns 6,292,740 shares of the company’s stock valued at $327,034,000 after buying an additional 344,606 shares during the period. First Trust Advisors LP boosted its stake in shares of Core & Main by 15.3% during the 1st quarter. First Trust Advisors LP now owns 6,130,840 shares of the company’s stock worth $302,863,000 after acquiring an additional 812,770 shares during the period. Royal London Asset Management Ltd. increased its holdings in shares of Core & Main by 12.5% during the 4th quarter. Royal London Asset Management Ltd. now owns 5,688,595 shares of the company’s stock worth $295,636,000 after acquiring an additional 632,077 shares during the last quarter. KBC Group NV increased its holdings in shares of Core & Main by 4.5% during the 1st quarter. KBC Group NV now owns 2,737,992 shares of the company’s stock worth $135,257,000 after acquiring an additional 119,076 shares during the last quarter. Finally, Bessemer Group Inc. raised its stake in Core & Main by 2.8% in the 1st quarter. Bessemer Group Inc. now owns 2,663,161 shares of the company’s stock valued at $131,561,000 after acquiring an additional 72,712 shares during the period. 94.19% of the stock is owned by institutional investors and hedge funds.

Core & Main Stock Up 0.0%

CNM stock opened at $40.37 on Monday. The company has a debt-to-equity ratio of 1.16, a current ratio of 2.47 and a quick ratio of 1.51. The stock has a market capitalization of $7.69 billion, a P/E ratio of 16.61, a P/E/G ratio of 1.69 and a beta of 0.91. The business has a 50-day moving average of $43.43 and a 200-day moving average of $46.53. Core & Main has a fifty-two week low of $39.42 and a fifty-two week high of $59.66.

Core & Main (NYSE:CNM) last announced its earnings results on Wednesday, September 9th. The company reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.03. The business had revenue of $2.15 billion for the quarter, compared to analyst estimates of $2.14 billion. Core & Main had a return on equity of 25.98% and a net margin of 5.96%. Core & Main’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.87 EPS. On average, sell-side analysts anticipate that Core & Main will post 3.00 earnings per share for the current fiscal year.

About Core & Main

Core & Main, Inc (NYSE: CNM) is a specialized distributor of infrastructure products serving the water, wastewater, storm drainage, fire protection and related utility markets. The company supplies products used to build, repair and maintain essential public and private infrastructure across the United States.

Its product portfolio includes ductile iron and plastic pipe, valves, hydrants, water meters, fittings, and other waterworks components. Core & Main also distributes stormwater drainage products, fire protection equipment and related solutions.