Core & Main (NYSE:CNM) Price Target Raised to $66.00 at Robert W. Baird

Core & Main (NYSE:CNM) had its price objective increased by equities research analysts at Robert W. Baird from $60.00 to $66.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Robert W. Baird’s target price points to a potential upside of 18.32% from the company’s current price.

CNM has been the topic of several other research reports. Loop Capital cut their price objective on Core & Main from $64.00 to $52.00 and set a “buy” rating on the stock in a report on Thursday, September 5th. The Goldman Sachs Group cut their price target on shares of Core & Main from $57.00 to $50.00 and set a “neutral” rating on the stock in a report on Friday, September 6th. Wells Fargo & Company assumed coverage on shares of Core & Main in a research note on Monday, September 23rd. They issued an “overweight” rating and a $52.00 price objective for the company. JPMorgan Chase & Co. decreased their target price on Core & Main from $54.00 to $52.00 and set an “overweight” rating for the company in a research report on Tuesday, September 3rd. Finally, Truist Financial lowered their target price on Core & Main from $50.00 to $38.00 and set a “hold” rating on the stock in a research note on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $52.60.

Core & Main Trading Up 15.5 %

Shares of NYSE:CNM opened at $55.78 on Wednesday. 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 has a market capitalization of $11.22 billion, a price-to-earnings ratio of 26.69, a PEG ratio of 3.14 and a beta of 1.04. Core & Main has a 1-year low of $35.03 and a 1-year high of $62.15. The company has a 50 day moving average price of $44.80 and a 200 day moving average price of $48.09.

Core & Main (NYSE:CNM) last released its quarterly earnings data on Tuesday, December 3rd. The company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.04. The business had revenue of $2.04 billion during the quarter, compared to analyst estimates of $1.99 billion. Core & Main had a return on equity of 21.91% and a net margin of 5.58%. The company’s revenue was up 11.5% compared to the same quarter last year. During the same period last year, the company posted $0.65 EPS. On average, research analysts anticipate that Core & Main will post 2.1 EPS for the current fiscal year.

Hedge Funds Weigh In On Core & Main

Hedge funds have recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC acquired a new stake in Core & Main in the third quarter valued at approximately $26,000. ORG Wealth Partners LLC acquired a new stake in shares of Core & Main in the 3rd quarter valued at $31,000. Wilmington Savings Fund Society FSB bought a new stake in Core & Main in the third quarter worth $49,000. GAMMA Investing LLC increased its position in Core & Main by 61.1% during the third quarter. GAMMA Investing LLC now owns 1,348 shares of the company’s stock worth $60,000 after buying an additional 511 shares during the last quarter. Finally, Brown Brothers Harriman & Co. acquired a new stake in shares of Core & Main in the second quarter worth about $76,000. Institutional investors and hedge funds own 94.19% of the company’s stock.

Core & Main Company Profile

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.