Core & Main, Inc. (NYSE:CNM) Receives $49.30 Consensus Target Price from Brokerages

by · The Markets Daily

Core & Main, Inc. (NYSE:CNM – Get Free Report) has been given an average rating of “Moderate Buy” by the ten analysts that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $49.30.

CNM has been the subject of several research reports. The Goldman Sachs Group dropped their price objective on shares of Core & Main from $57.00 to $50.00 and set a “neutral” rating for the company in a report on Friday, September 6th. Robert W. Baird dropped their price target on Core & Main from $62.00 to $53.00 and set an “outperform” rating for the company in a research note on Thursday, September 5th. Royal Bank of Canada cut their price target on Core & Main from $60.00 to $53.00 and set an “outperform” rating for the company in a report on Thursday, September 5th. Barclays lowered their target price on Core & Main from $65.00 to $57.00 and set an “overweight” rating for the company in a research report on Thursday, September 5th. Finally, Bank of America reduced 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 report on Thursday, September 5th.

Check Out Our Latest Stock Analysis on Core & Main

Core & Main Stock Performance

NYSE:CNM opened at $43.41 on Friday. The stock has a 50-day moving average price of $48.03 and a 200 day moving average price of $52.18. The stock has a market capitalization of $8.75 billion, a P/E ratio of 20.29, a P/E/G ratio of 2.52 and a beta of 1.04. Core & Main has a 12-month low of $27.75 and a 12-month high of $62.15. The company has a current ratio of 2.29, a quick ratio of 1.34 and a debt-to-equity ratio of 1.40.

Core & Main (NYSE:CNM – Get Free Report) last released 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). Core & Main had a net margin of 5.58% and a return on equity of 21.91%. The company had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $2.05 billion. During the same quarter in the previous year, the business earned $0.66 EPS. The company’s quarterly revenue was up 5.5% on a year-over-year basis. Equities research analysts forecast that Core & Main will post 2.1 EPS for the current fiscal year.

Core & Main announced that its Board of Directors has initiated a stock buyback program on Wednesday, June 12th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to reacquire up to 6.4% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at Core & Main

In related news, Director James G. Castellano sold 12,500 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $52.22, for a total transaction of $652,750.00. Following the completion of the sale, the director now directly owns 11,769 shares of the company’s stock, valued at approximately $614,577.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 3.49% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Rise Advisors LLC bought a new position in Core & Main in the 1st quarter worth about $27,000. Quadrant Capital Group LLC boosted its holdings in shares of Core & Main by 74.5% in the fourth quarter. Quadrant Capital Group LLC now owns 855 shares of the company’s stock valued at $35,000 after purchasing an additional 365 shares during the period. ORG Partners LLC purchased a new stake in shares of Core & Main in the first quarter valued at approximately $38,000. Principal Securities Inc. bought a new position in Core & Main in the fourth quarter worth approximately $43,000. Finally, Brown Brothers Harriman & Co. purchased a new position in Core & Main during the 2nd quarter worth $76,000. Hedge funds and other institutional investors own 94.19% of the company’s stock.

Core & Main Company Profile

(Get Free Report

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.

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