Core & Main (NYSE:CNM) Price Target Cut to $29.00 by Analysts at Robert W. Baird

Core & Main (NYSE:CNMGet Rating) had its price objective reduced by Robert W. Baird from $30.00 to $29.00 in a research note published on Tuesday morning, Benzinga reports. They currently have an outperform rating on the stock.

Other equities research analysts have also recently issued reports about the stock. Citigroup reduced their price target on shares of Core & Main from $26.00 to $22.00 and set a neutral rating for the company in a research report on Friday, December 16th. Royal Bank of Canada boosted their price target on shares of Core & Main from $27.00 to $28.00 and gave the company an outperform rating in a research report on Wednesday, December 14th. Truist Financial dropped their price objective on shares of Core & Main to $22.00 in a research note on Wednesday, December 14th. The Goldman Sachs Group dropped their price objective on shares of Core & Main from $29.00 to $25.00 and set a neutral rating on the stock in a research note on Thursday, December 15th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Core & Main from $41.00 to $40.00 and set a buy rating on the stock in a research note on Tuesday, January 10th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus price target of $28.11.

Core & Main Price Performance

Core & Main stock opened at $21.18 on Tuesday. The stock has a market cap of $5.21 billion, a P/E ratio of 10.09, a price-to-earnings-growth ratio of 0.52 and a beta of 0.75. The company has a fifty day simple moving average of $20.44 and a 200-day simple moving average of $22.13. Core & Main has a 12-month low of $18.75 and a 12-month high of $26.63. The company has a current ratio of 2.49, a quick ratio of 1.32 and a debt-to-equity ratio of 0.65.

Core & Main (NYSE:CNMGet Rating) last released its quarterly earnings data on Tuesday, December 13th. The company reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.05. Core & Main had a net margin of 5.52% and a return on equity of 22.01%. The business had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.78 billion. Equities analysts expect that Core & Main will post 2.15 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Robeco Schweiz AG purchased a new stake in Core & Main during the first quarter worth about $51,950,000. The Manufacturers Life Insurance Company boosted its holdings in Core & Main by 186.0% during the third quarter. The Manufacturers Life Insurance Company now owns 3,102,381 shares of the company’s stock worth $70,548,000 after buying an additional 2,017,607 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Core & Main by 58.6% during the first quarter. Vanguard Group Inc. now owns 4,472,479 shares of the company’s stock worth $108,189,000 after buying an additional 1,652,035 shares in the last quarter. First Trust Advisors LP purchased a new stake in shares of Core & Main in the first quarter valued at about $28,253,000. Finally, BlackRock Inc. lifted its holdings in shares of Core & Main by 55.9% in the first quarter. BlackRock Inc. now owns 2,148,449 shares of the company’s stock valued at $51,972,000 after purchasing an additional 770,677 shares in the last quarter. 95.16% of the stock is currently owned by institutional investors and hedge funds.

Core & Main Company Profile

(Get Rating)

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 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, and other related products; fire protection products, including fire protection pipes, sprinkler heads and other devices, fire suppression systems, and related accessories, as well as fabrication services; and meter products, such as smart meter products, installation, software and other services.

Read More

Analyst Recommendations for Core & Main (NYSE:CNM)

Receive News & Ratings for Core & Main Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Core & Main and related companies with MarketBeat.com's FREE daily email newsletter.