Core & Main (NYSE:CNM) Stock Rating Lowered by Wall Street Zen

Core & Main (NYSE:CNM) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Saturday, Wall Street Zen reports.

A number of other research firms have also recently issued reports on CNM. The Goldman Sachs Group restated a “neutral” rating and set a $53.00 price objective on shares of Core & Main in a report on Thursday, September 10th. Zacks Research downgraded Core & Main from a “hold” rating to a “strong sell” rating in a research report on Monday, September 14th. Wolfe Research reiterated an “outperform” rating and issued a $63.00 target price on shares of Core & Main in a research note on Tuesday, September 15th. Robert W. Baird reduced their target price on Core & Main from $66.00 to $57.00 and set an “outperform” rating on the stock in a research note on Thursday, September 10th. Finally, William Blair assumed coverage on Core & Main in a research report on Thursday, July 23rd. They set a “market perform” rating for the company. Seven research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $54.40.

Core & Main Stock Performance

Core & Main stock opened at $40.37 on Friday. The company has a debt-to-equity ratio of 1.16, a current ratio of 2.47 and a quick ratio of 1.51. Core & Main has a 1-year low of $39.42 and a 1-year high of $59.66. The firm has a market capitalization of $7.69 billion, a P/E ratio of 16.61, a price-to-earnings-growth ratio of 1.69 and a beta of 0.91. The company’s 50-day moving average is $43.43 and its 200 day moving average is $46.52.

Core & Main (NYSE:CNM) last announced its quarterly earnings data on Wednesday, September 9th. The company reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.03. Core & Main had a net margin of 5.96% and a return on equity of 25.98%. The business had revenue of $2.15 billion during the quarter, compared to the consensus estimate of $2.14 billion. During the same quarter last year, the firm earned $0.87 earnings per share. The firm’s quarterly revenue was up 2.5% compared to the same quarter last year. Research analysts forecast that Core & Main will post 3.00 EPS for the current year.

Hedge Funds Weigh In On Core & Main

A number of hedge funds have recently added to or reduced their stakes in the stock. California State Teachers Retirement System boosted its holdings in shares of Core & Main by 22.3% in the first quarter. California State Teachers Retirement System now owns 219,934 shares of the company’s stock valued at $10,865,000 after purchasing an additional 40,050 shares during the period. KBC Group NV grew its stake in Core & Main by 4.5% in the first quarter. KBC Group NV now owns 2,737,992 shares of the company’s stock worth $135,257,000 after purchasing an additional 119,076 shares in the last quarter. Wellington Management Group LLP grew its stake in Core & Main by 52.5% in the second quarter. Wellington Management Group LLP now owns 251,724 shares of the company’s stock worth $12,146,000 after purchasing an additional 86,672 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Core & Main during the 2nd quarter worth $4,461,000. Finally, Bornite Capital Management LP purchased a new position in Core & Main during the 2nd quarter worth $36,622,000. 94.19% of the stock is currently owned by institutional investors.

Core & Main Company Profile

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.