Core & Main (NYSE:CNM) Stock Breaks Below 50-Day Moving Average - Should You Sell?

Core & Main, Inc. (NYSE:CNM - Get Free Report) shares crossed below its 50-day moving average during trading on Wednesday. The stock has a 50-day moving average of $42.31 and traded as low as $41.60. Core & Main shares last traded at $41.9930, with a volume of 1,620,063 shares trading hands.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CNM. The Goldman Sachs Group restated a "neutral" rating and issued a $53.00 target price on shares of Core & Main in a research note on Thursday, September 10th. Deutsche Bank Aktiengesellschaft set a $55.00 price target on Core & Main in a research note on Thursday, September 10th. Truist Financial reduced their price target on Core & Main from $50.00 to $45.00 and set a "hold" rating for the company in a report on Thursday, September 10th. Zacks Research lowered Core & Main from a "hold" rating to a "strong sell" rating in a report on Monday, September 14th. Finally, William Blair initiated coverage on Core & Main in a research note on Thursday, July 23rd. They issued a "market perform" rating for the company. Seven equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $54.40.

Core & Main Stock Performance

The company has a market cap of $8.00 billion, a price-to-earnings ratio of 17.28, a P/E/G ratio of 1.76 and a beta of 0.91. The company has a debt-to-equity ratio of 1.16, a current ratio of 2.47 and a quick ratio of 1.51. The firm has a fifty day simple moving average of $42.31 and a 200 day simple moving average of $48.13.

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 for the quarter, topping analysts' consensus estimates of $0.91 by $0.03. The business had revenue of $2.15 billion during the quarter, compared to analysts' expectations 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 for the quarter was up 2.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.87 earnings per share. On average, sell-side analysts expect that Core & Main, Inc. will post 3.00 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. First Trust Advisors LP increased its holdings in shares of Core & Main by 15.3% during the 1st quarter. First Trust Advisors LP now owns 6,130,840 shares of the company's stock worth $302,863,000 after purchasing an additional 812,770 shares during the period. KBC Group NV raised its position in shares of Core & Main by 4.5% during the first quarter. KBC Group NV now owns 2,737,992 shares of the company's stock valued at $135,257,000 after buying an additional 119,076 shares during the last quarter. Bessemer Group Inc. lifted its stake in shares of Core & Main by 2.8% in the first quarter. Bessemer Group Inc. now owns 2,663,161 shares of the company's stock valued at $131,561,000 after buying an additional 72,712 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Core & Main by 6.1% in the first quarter. Dimensional Fund Advisors LP now owns 2,661,022 shares of the company's stock valued at $131,425,000 after buying an additional 152,077 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in shares of Core & Main by 12.6% in the first quarter. Bank of New York Mellon Corp now owns 1,231,839 shares of the company's stock valued at $60,853,000 after buying an additional 138,115 shares during the period. Institutional investors 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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