Core & Main, Inc. (CNM) - What Are Investment Firms Thinking About This Stock?

Key Points

• Analyst sentiment is mixed: Thirteen brokerages rate Core & Main an average “Hold,” with seven buys, five holds, and one sell. The average 12-month price target is $54.40, though several firms recently lowered their targets.
• Core & Main exceeded quarterly expectations, reporting $0.94 in EPS versus the $0.91 consensus estimate and $2.15 billion in revenue versus $2.14 billion expected. Revenue increased 2.5% year over year, and analysts forecast $3.00 in full-year EPS.
• Institutional ownership remains high at 94.19%, while the stock recently traded at $44.05—near its 52-week low of $39.42 and below its 200-day moving average of $48.07.

Shares of Core & Main, Inc. (NYSE:CNM - Get Free Report) have earned an average recommendation of "Hold" from the thirteen brokerages that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $54.40.

Several equities research analysts have recently weighed in on the stock. Zacks Research downgraded shares of Core & Main from a "hold" rating to a "strong sell" rating in a research note on Monday, September 14th. Barclays lowered their price objective on shares of Core & Main from $62.00 to $61.00 and set an "overweight" rating on the stock in a research report on Thursday, September 10th. Royal Bank Of Canada cut their price objective on shares of Core & Main from $60.00 to $57.00 and set an "outperform" rating for the company in a research report on Wednesday, October 7th. Truist Financial reduced their target price on shares of Core & Main from $50.00 to $45.00 and set a "hold" rating for the company in a research note on Thursday, September 10th. Finally, William Blair assumed coverage on shares of Core & Main in a report on Thursday, July 23rd. They issued a "market perform" rating on the stock.

Core & Main Price Performance

Shares of CNM opened at $44.05 on Friday. Core & Main has a fifty-two week low of $39.42 and a fifty-two week high of $59.66. The firm's 50 day moving average price is $42.28 and its 200 day moving average price is $48.07. The company has a market cap of $8.39 billion, a P/E ratio of 18.13, a PEG ratio of 1.76 and a beta of 0.91. The company has a quick ratio of 1.51, a current ratio of 2.47 and a debt-to-equity ratio of 1.16.

Core & Main (NYSE:CNM - Get Free Report) last issued its quarterly earnings results on Wednesday, September 9th. The company reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.03. The company had revenue of $2.15 billion for the quarter, compared to the consensus estimate of $2.14 billion. Core & Main had a return on equity of 25.98% and a net margin of 5.96%. Core & Main's revenue was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.87 EPS. On average, research analysts forecast that Core & Main will post 3.00 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Core & Main

Large investors have recently bought and sold shares of the stock. Root Financial Partners LLC lifted its position in shares of Core & Main by 111.6% in the first quarter. Root Financial Partners LLC now owns 895 shares of the company's stock valued at $44,000 after acquiring an additional 472 shares in the last quarter. IFP Advisors Inc increased its position in Core & Main by 142.7% during the 3rd quarter. IFP Advisors Inc now owns 1,296 shares of the company's stock worth $54,000 after purchasing an additional 762 shares in the last quarter. Nisa Investment Advisors LLC increased its position in Core & Main by 42.9% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,615 shares of the company's stock worth $67,000 after purchasing an additional 485 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in Core & Main by 42.3% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,389 shares of the company's stock valued at $118,000 after purchasing an additional 710 shares during the last quarter. Finally, SkyView Investment Advisors LLC acquired a new position in Core & Main in the 2nd quarter valued at about $145,000. Institutional investors and hedge funds own 94.19% of the company's stock.

About Core & Main

Core & Main, Inc is a distributor of specialized products for public and private infrastructure in the United States. The company primarily serves municipalities, contractors, and other customers involved in water, wastewater, storm drainage, and fire protection projects.

Its product offerings include water, sewer, and storm drainage pipe; valves, hydrants, and related waterworks products; fire protection equipment; and geosynthetic and other stormwater management products. Core & Main also provides product expertise, technical support, and related services to help customers plan and complete infrastructure projects.

The company traces its roots to the waterworks distribution business formerly operated by HD Supply.

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