Robert W. Baird Boosts Core & Main (NYSE:CNM) Price Target to $60.00

by · The Markets Daily

Core & Main (NYSE:CNM – Free Report) had its price target upped by Robert W. Baird from $53.00 to $60.00 in a research note published on Wednesday morning, Benzinga reports. They currently have an outperform rating on the stock.

A number of other equities analysts have also recently issued reports on the company. Wells Fargo & Company started coverage on Core & Main in a report on Monday, September 23rd. They issued an “overweight” rating and a $52.00 target price on the stock. Loop Capital decreased their target price on Core & Main from $64.00 to $52.00 and set a “buy” rating on the stock in a report on Thursday, September 5th. Royal Bank of Canada decreased their target price on Core & Main from $60.00 to $53.00 and set an “outperform” rating on the stock in a report on Thursday, September 5th. The Goldman Sachs Group decreased their target price on Core & Main from $57.00 to $50.00 and set a “neutral” rating on the stock in a report on Friday, September 6th. Finally, Bank of America lowered their price target on Core & Main from $38.00 to $34.00 and set an “underperform” rating on the stock in a report on Thursday, September 5th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $51.20.

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Core & Main Stock Up 1.7 %

CNM opened at $46.74 on Wednesday. Core & Main has a one year low of $29.13 and a one year high of $62.15. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.34 and a current ratio of 2.29. The stock’s fifty day moving average is $45.35 and its 200-day moving average is $50.94. The company has a market capitalization of $9.42 billion, a PE ratio of 21.84, a P/E/G ratio of 2.83 and a beta of 1.02.

Core & Main (NYSE:CNM – Get Free Report) last issued its earnings results on Wednesday, September 4th. The company reported $0.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.13). The company had revenue of $1.96 billion during the quarter, compared to analyst estimates of $2.05 billion. Core & Main had a return on equity of 21.91% and a net margin of 5.58%. The business’s revenue was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.66 earnings per share. On average, equities analysts predict that Core & Main will post 2.1 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of CNM. Rise Advisors LLC purchased a new position in Core & Main in the first quarter valued at about $27,000. ORG Wealth Partners LLC purchased a new position in Core & Main in the third quarter valued at about $31,000. ORG Partners LLC purchased a new position in Core & Main in the first quarter valued at about $38,000. GAMMA Investing LLC grew its stake in Core & Main by 61.1% in the third quarter. GAMMA Investing LLC now owns 1,348 shares of the company’s stock valued at $60,000 after purchasing an additional 511 shares in the last quarter. Finally, Brown Brothers Harriman & Co. purchased a new position in Core & Main in the second quarter valued at about $76,000. Hedge funds and other institutional investors own 94.19% of the company’s stock.

About Core & Main

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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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