Core & Main, Inc. (NYSE:CNM) Receives $60.82 Average Target Price from Brokerages

by · The Cerbat Gem

Shares of Core & Main, Inc. (NYSE:CNM – Get Free Report) have earned an average rating of “Moderate Buy” from the twelve research firms that are covering the stock, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $60.8182.

A number of research firms recently issued reports on CNM. Royal Bank Of Canada lowered their target price on shares of Core & Main from $67.00 to $62.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 10th. JPMorgan Chase & Co. raised their price target on Core & Main from $58.00 to $59.00 and gave the company an “overweight” rating in a research report on Wednesday, December 10th. Citigroup boosted their price objective on Core & Main from $54.00 to $56.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 10th. The Goldman Sachs Group decreased their target price on Core & Main from $68.00 to $60.00 and set a “neutral” rating for the company in a research note on Friday, September 12th. Finally, Robert W. Baird lifted their price target on Core & Main from $62.00 to $64.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 10th.

View Our Latest Stock Analysis on CNM

Core & Main Stock Down 4.3%

Shares of CNM stock opened at $53.26 on Friday. The stock’s 50 day simple moving average is $51.12 and its 200 day simple moving average is $56.04. Core & Main has a twelve month low of $43.17 and a twelve month high of $67.18. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.35 and a current ratio of 2.26. The company has a market capitalization of $10.41 billion, a price-to-earnings ratio of 23.46, a PEG ratio of 1.87 and a beta of 0.98.

Core & Main (NYSE:CNM – Get Free Report) last announced its quarterly earnings results on Tuesday, December 9th. The company reported $0.72 EPS for the quarter, meeting the consensus estimate of $0.72. Core & Main had a return on equity of 24.63% and a net margin of 5.60%.The company had revenue of $2.06 billion for the quarter, compared to the consensus estimate of $2.06 billion. During the same quarter last year, the company posted $0.69 earnings per share. The company’s revenue for the quarter was up 1.2% compared to the same quarter last year. As a group, research analysts predict that Core & Main will post 2.16 EPS for the current year.

Core & Main announced that its Board of Directors has initiated a stock repurchase program on Tuesday, December 9th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 5% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Institutional Trading of Core & Main

A number of hedge funds have recently bought and sold shares of CNM. Bfsg LLC lifted its stake in shares of Core & Main by 56.4% in the second quarter. Bfsg LLC now owns 560 shares of the company’s stock valued at $34,000 after buying an additional 202 shares during the period. Modern Wealth Management LLC raised its holdings in Core & Main by 5.8% in the 3rd quarter. Modern Wealth Management LLC now owns 3,970 shares of the company’s stock valued at $214,000 after acquiring an additional 218 shares in the last quarter. Johnson Investment Counsel Inc. lifted its position in shares of Core & Main by 0.6% in the 3rd quarter. Johnson Investment Counsel Inc. now owns 43,070 shares of the company’s stock worth $2,318,000 after acquiring an additional 244 shares during the period. Wedmont Private Capital grew its holdings in shares of Core & Main by 5.6% during the 3rd quarter. Wedmont Private Capital now owns 4,733 shares of the company’s stock worth $241,000 after purchasing an additional 251 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Core & Main by 145.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 454 shares of the company’s stock worth $27,000 after purchasing an additional 269 shares in the last quarter. 94.19% of the stock is owned by institutional investors.

Core & Main Company Profile

(Get Free Report)

Core & Main, Inc (NYSE:CNM) is a leading distributor of water, sewer, storm drainage and fire protection products across North America. The company’s product portfolio includes valves, hydrants, pipe and fittings, meters, couplings and other essential components that support municipal, industrial and environmental infrastructure projects. By combining a comprehensive inventory with logistics and technical support, Core & Main helps customers address complex water system and distribution challenges.

With more than 300 branch locations and over 3,500 employees, Core & Main serves a diverse customer base that includes municipalities, contractors, engineers and utility providers.

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