Truist Financial Boosts Core & Main (NYSE:CNM) Price Target to $56.00

Core & Main (NYSE:CNM) had its price objective boosted by Truist Financial from $38.00 to $56.00 in a report published on Wednesday morning,Benzinga reports. The firm currently has a hold rating on the stock.

Other equities analysts have also issued research reports about the stock. Barclays increased their target price on shares of Core & Main from $57.00 to $65.00 and gave the company an “overweight” rating in a research report on Wednesday. Bank of America decreased their target price on shares of Core & Main from $38.00 to $34.00 and set an “underperform” rating for the company in a research report on Thursday, September 5th. JPMorgan Chase & Co. cut their price target on shares of Core & Main from $54.00 to $52.00 and set an “overweight” rating for the company in a report on Tuesday, September 3rd. Loop Capital cut their price target on shares of Core & Main from $64.00 to $52.00 and set a “buy” rating for the company in a report on Thursday, September 5th. Finally, Royal Bank of Canada cut their price target on shares of Core & Main from $60.00 to $53.00 and set an “outperform” rating for the company in a report on Thursday, September 5th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Core & Main currently has a consensus rating of “Moderate Buy” and an average price target of $55.30.

Core & Main Stock Down 0.9 %

Core & Main stock opened at $55.26 on Wednesday. The company has a 50-day simple moving average of $45.03 and a 200-day simple moving average of $48.06. The firm has a market capitalization of $11.11 billion, a P/E ratio of 26.44, a P/E/G ratio of 3.14 and a beta of 1.04. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.34 and a current ratio of 2.29. Core & Main has a one year low of $35.03 and a one year high of $62.15.

Core & Main (NYSE:CNM) last announced its earnings results on Tuesday, December 3rd. The company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.04. The firm had revenue of $2.04 billion during the quarter, compared to analyst estimates of $1.99 billion. Core & Main had a net margin of 5.58% and a return on equity of 21.91%. Core & Main’s revenue was up 11.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.65 EPS. As a group, equities analysts expect that Core & Main will post 2.1 earnings per share for the current year.

Institutional Trading of Core & Main

A number of hedge funds have recently bought and sold shares of CNM. Ashton Thomas Securities LLC purchased a new stake in Core & Main during the third quarter valued at about $26,000. ORG Wealth Partners LLC purchased a new stake in Core & Main during the third quarter valued at about $31,000. Wilmington Savings Fund Society FSB purchased a new stake in Core & Main during the third quarter valued at about $49,000. GAMMA Investing LLC lifted its position in shares of Core & Main by 61.1% in the third quarter. GAMMA Investing LLC now owns 1,348 shares of the company’s stock worth $60,000 after purchasing an additional 511 shares in the last quarter. Finally, Brown Brothers Harriman & Co. acquired a new stake in shares of Core & Main during the second quarter worth approximately $76,000. 94.19% of the stock is owned by hedge funds and other institutional investors.

About Core & Main

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.