Core & Main, Inc. (NYSE:CNM) Receives Average Rating of "Hold" from Analysts

Key Points

• Core & Main has a consensus “Hold” rating from 13 analysts: seven rate it a buy, five recommend holding, and one rates it a sell. The average 12-month price target is $54.70.
• Recent analyst views were mixed, with Zacks Research downgrading the stock to “strong sell,” Wall Street Zen upgrading it to “buy,” and Wolfe Research maintaining an “outperform” rating with a $63 target.
• The stock opened at $41.33, near its 52-week low, while the company’s latest quarterly results exceeded expectations: EPS was $0.94 versus a $0.91 consensus, and revenue rose 2.5% year over year to $2.15 billion.

Core & Main, Inc. (NYSE:CNM - Get Free Report) has earned a consensus rating of "Hold" from the thirteen research firms that are covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and seven have assigned a buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $54.70.

CNM has been the subject of several recent research reports. Zacks Research lowered Core & Main from a "hold" rating to a "strong sell" rating in a research report on Monday, September 14th. William Blair assumed coverage on shares of Core & Main in a report on Thursday, July 23rd. They issued a "market perform" rating for the company. Wall Street Zen raised shares of Core & Main from a "hold" rating to a "buy" rating in a research report on Saturday, September 26th. Wolfe Research reaffirmed an "outperform" rating and issued a $63.00 price objective on shares of Core & Main in a research report on Tuesday, September 15th. Finally, Truist Financial reduced their price objective 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.

Institutional Trading of Core & Main

Hedge funds and other institutional investors have recently made changes to their positions in the business. CX Institutional boosted its position in shares of Core & Main by 211,716.1% in the 3rd quarter. CX Institutional now owns 118,617 shares of the company's stock worth $4,920,000 after purchasing an additional 118,561 shares in the last quarter. SkyView Investment Advisors LLC acquired a new position in Core & Main during the 2nd quarter valued at about $145,000. WINTON GROUP Ltd increased its position in Core & Main by 41.4% during the 2nd quarter. WINTON GROUP Ltd now owns 46,061 shares of the company's stock valued at $2,222,000 after buying an additional 13,482 shares in the last quarter. Squarepoint Ops LLC raised its stake in Core & Main by 109.4% in the second quarter. Squarepoint Ops LLC now owns 215,273 shares of the company's stock valued at $10,387,000 after buying an additional 112,444 shares during the last quarter. Finally, Allworth Financial LP raised its stake in Core & Main by 176.7% in the second quarter. Allworth Financial LP now owns 33,752 shares of the company's stock valued at $1,629,000 after buying an additional 21,555 shares during the last quarter. Hedge funds and other institutional investors own 94.19% of the company's stock.

Core & Main Trading Down 0.1%

NYSE CNM opened at $41.33 on Monday. Core & Main has a one year low of $40.03 and a one year high of $59.66. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.51 and a current ratio of 2.47. The company has a market capitalization of $7.87 billion, a price-to-earnings ratio of 17.01, a price-to-earnings-growth ratio of 1.73 and a beta of 0.91. The company's 50-day simple moving average is $43.67 and its two-hundred day simple moving average is $46.76.

Core & Main (NYSE:CNM - Get Free Report) last issued its quarterly earnings data on Wednesday, September 9th. The company reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.03. The company had revenue of $2.15 billion for the quarter, compared to analyst estimates of $2.14 billion. Core & Main had a net margin of 5.96% and a return on equity of 25.98%. Core & Main's revenue was up 2.5% compared to the same quarter last year. During the same period last year, the company posted $0.87 earnings per share. Equities analysts forecast that Core & Main will post 3 EPS for the current fiscal year.

About Core & Main

Core & Main, Inc NYSE: CNM is a specialized distributor of infrastructure products serving the water, wastewater, storm drainage, fire protection and related utility markets. The company supplies products used to build, repair and maintain essential public and private infrastructure across the United States.

Its product portfolio includes ductile iron and plastic pipe, valves, hydrants, water meters, fittings, and other waterworks components. Core & Main also distributes stormwater drainage products, fire protection equipment and related solutions.

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