Core & Main, Inc. (NYSE:CNM) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Core & Main, Inc. (NYSE:CNM) have received an average recommendation of “Moderate Buy” from the twelve research firms that are presently covering the firm, Marketbeat reports. Five investment analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $60.8182.

Several research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Core & Main from $63.00 to $65.00 and gave the stock a “buy” rating in a research note on Thursday, December 11th. Truist Financial reduced their price target on shares of Core & Main from $56.00 to $50.00 and set a “hold” rating on the stock in a research report on Thursday, September 11th. JPMorgan Chase & Co. boosted their price target on shares of Core & Main from $58.00 to $59.00 and gave the company an “overweight” rating in a report on Wednesday, December 10th. Citigroup upped their price objective on shares of Core & Main from $54.00 to $56.00 and gave the company a “neutral” rating in a research report on Wednesday, December 10th. Finally, Robert W. Baird raised their price objective on Core & Main from $62.00 to $64.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 10th.

Institutional Investors Weigh In On Core & Main

Several large investors have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC lifted its position in Core & Main by 145.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 454 shares of the company’s stock valued at $27,000 after acquiring an additional 269 shares in the last quarter. Bfsg LLC raised its stake in shares of Core & Main by 56.4% in the 2nd quarter. Bfsg LLC now owns 560 shares of the company’s stock valued at $34,000 after purchasing an additional 202 shares during the period. Cubist Systematic Strategies LLC boosted its position in shares of Core & Main by 262.0% during the first quarter. Cubist Systematic Strategies LLC now owns 724 shares of the company’s stock worth $35,000 after buying an additional 524 shares during the period. Hantz Financial Services Inc. boosted its position in shares of Core & Main by 815.7% during the second quarter. Hantz Financial Services Inc. now owns 641 shares of the company’s stock worth $39,000 after buying an additional 571 shares during the period. Finally, Rothschild Investment LLC boosted its position in shares of Core & Main by 5,013.3% during the third quarter. Rothschild Investment LLC now owns 767 shares of the company’s stock worth $41,000 after buying an additional 752 shares during the period. Institutional investors own 94.19% of the company’s stock.

Core & Main Stock Up 2.7%

Shares of Core & Main stock opened at $53.38 on Friday. The business has a fifty day simple moving average of $51.03 and a 200 day simple moving average of $56.07. The stock has a market cap of $10.44 billion, a PE ratio of 23.52, a price-to-earnings-growth ratio of 1.87 and a beta of 0.98. The company has a quick ratio of 1.35, a current ratio of 2.26 and a debt-to-equity ratio of 1.04. Core & Main has a 12 month low of $43.17 and a 12 month high of $67.18.

Core & Main (NYSE:CNM) last issued its earnings results on Tuesday, December 9th. The company reported $0.72 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.72. The firm had revenue of $2.06 billion for the quarter, compared to analysts’ expectations of $2.06 billion. Core & Main had a return on equity of 24.63% and a net margin of 5.60%.The company’s revenue was up 1.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.69 earnings per share. Research analysts predict that Core & Main will post 2.16 EPS for the current year.

Core & Main declared that its Board of Directors has authorized a share buyback plan on Tuesday, December 9th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

Core & Main Company Profile

Core & Main, Inc (NYSE:CNM) is a leading distributor of water, sewer, storm drainage and fire protection products across North America. The company’s product portfolio includes valves, hydrants, pipe and fittings, meters, couplings and other essential components that support municipal, industrial and environmental infrastructure projects. By combining a comprehensive inventory with logistics and technical support, Core & Main helps customers address complex water system and distribution challenges.

With more than 300 branch locations and over 3,500 employees, Core & Main serves a diverse customer base that includes municipalities, contractors, engineers and utility providers.