Core & Main, Inc. (NYSE:CNM) Stock Has Consensus Target Price of $54.40

Core & Main, Inc. (NYSE:CNM) has received an average recommendation of “Moderate Buy” from the fourteen research firms that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and eight have assigned a buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $54.27.

Several research analysts have commented on CNM shares. William Blair initiated coverage on Core & Main in a research report on Thursday, July 23rd. They set a “market perform” rating on the stock. Wells Fargo & Company reduced their price objective on Core & Main from $65.00 to $48.00 and set an “overweight” rating for the company in a research note on Thursday, September 10th. Royal Bank Of Canada decreased their price objective on Core & Main from $60.00 to $57.00 and set an “outperform” rating for the company in a report on Wednesday, October 7th. Wolfe Research assumed coverage on shares of Core & Main in a research report on Tuesday, September 15th. They set an “outperform” rating and a $63.00 target price on the stock. Finally, Barclays lowered their target price on shares of Core & Main from $62.00 to $61.00 and set an “overweight” rating on the stock in a research report on Thursday, September 10th.

Core & Main Stock Performance

Shares of CNM stock opened at $46.93 on Friday. The stock’s 50-day moving average is $42.45 and its two-hundred day moving average is $47.79. The firm has a market cap of $8.94 billion, a price-to-earnings ratio of 19.31, a PEG ratio of 2.04 and a beta of 0.91. Core & Main has a 1 year low of $39.42 and a 1 year high of $59.66. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.51 and a current ratio of 2.47.

Core & Main (NYSE:CNM) last posted its earnings results on Wednesday, September 9th. The company reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.03. The business had revenue of $2.15 billion during the quarter, compared to the consensus estimate of $2.14 billion. Core & Main had a return on equity of 25.98% and a net margin of 5.96%. The business’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.87 EPS. Analysts predict that Core & Main will post 3.00 earnings per share for the current year.

Institutional Trading of Core & Main

Large investors have recently bought and sold shares of the business. California State Teachers Retirement System increased its stake in Core & Main by 22.3% in the 1st quarter. California State Teachers Retirement System now owns 219,934 shares of the company’s stock valued at $10,865,000 after buying an additional 40,050 shares during the period. KBC Group NV raised its position in 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 buying an additional 119,076 shares during the last quarter. Wellington Management Group LLP raised its position in Core & Main by 52.5% during the 2nd quarter. Wellington Management Group LLP now owns 251,724 shares of the company’s stock worth $12,146,000 after buying an additional 86,672 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Core & Main in the 2nd quarter worth $4,461,000. Finally, Bornite Capital Management LP acquired a new stake in shares of Core & Main in the 2nd quarter worth $36,622,000. Institutional investors and hedge funds own 94.19% of the company’s stock.

About Core & Main

Core & Main, Inc is a distributor of specialized products for public and private infrastructure in the United States. The company primarily serves municipalities, contractors, and other customers involved in water, wastewater, storm drainage, and fire protection projects.

Its product offerings include water, sewer, and storm drainage pipe; valves, hydrants, and related waterworks products; fire protection equipment; and geosynthetic and other stormwater management products. Core & Main also provides product expertise, technical support, and related services to help customers plan and complete infrastructure projects.

The company traces its roots to the waterworks distribution business formerly operated by HD Supply.