Core & Main (NYSE:CNM) Given New $60.00 Price Target at Robert W. Baird

Core & Main (NYSE:CNM) had its target price lifted by Robert W. Baird from $53.00 to $60.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Robert W. Baird’s price objective would indicate a potential upside of 32.68% from the stock’s previous close.

Several other brokerages have also weighed in on CNM. Barclays lowered their price objective on Core & Main from $65.00 to $57.00 and set an “overweight” rating for the company in a report on Thursday, September 5th. Bank of America lowered their target price on Core & Main from $38.00 to $34.00 and set an “underperform” rating on the stock in a research report on Thursday, September 5th. Wells Fargo & Company initiated coverage on shares of Core & Main in a research note on Monday, September 23rd. They issued an “overweight” rating and a $52.00 price target for the company. Loop Capital cut their price objective on Core & Main from $64.00 to $52.00 and set a “buy” rating for the company in a report on Thursday, September 5th. Finally, The Goldman Sachs Group decreased their price target on shares of Core & Main from $57.00 to $50.00 and set a “neutral” rating on the stock in a research report on Friday, September 6th. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Core & Main has a consensus rating of “Moderate Buy” and an average target price of $51.20.

Core & Main Stock Down 0.1 %

CNM opened at $45.22 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 business’s fifty day moving average is $45.48 and its two-hundred day moving average is $51.08. Core & Main has a one year low of $29.13 and a one year high of $62.15. The company has a market cap of $9.11 billion, a price-to-earnings ratio of 21.13, a PEG ratio of 2.83 and a beta of 1.02.

Core & Main (NYSE:CNM) last announced its quarterly earnings results on Wednesday, September 4th. The company reported $0.61 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.13). Core & Main had a net margin of 5.58% and a return on equity of 21.91%. The company had revenue of $1.96 billion during the quarter, compared to analyst estimates of $2.05 billion. During the same quarter last year, the business earned $0.66 EPS. The firm’s revenue for the quarter was up 5.5% compared to the same quarter last year. Analysts anticipate that Core & Main will post 2.1 EPS for the current fiscal year.

Institutional Investors Weigh In On Core & Main

Hedge funds and other institutional investors have recently bought and sold shares of the company. Rise Advisors LLC acquired a new position in Core & Main during the first quarter worth approximately $27,000. ORG Partners LLC bought a new stake in shares of Core & Main during the 1st quarter worth approximately $38,000. ORG Wealth Partners LLC acquired a new stake in shares of Core & Main in the 3rd quarter valued at $31,000. GAMMA Investing LLC boosted its stake in Core & Main by 61.1% in the third quarter. GAMMA Investing LLC now owns 1,348 shares of the company’s stock valued at $60,000 after buying an additional 511 shares in the last quarter. Finally, Brown Brothers Harriman & Co. acquired a new position in Core & Main during the 2nd quarter worth approximately $76,000. Institutional investors and hedge funds own 94.19% of the company’s stock.

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.