Core & Main (NYSE:CNM – Get Rating) had its price target increased by equities researchers at Robert W. Baird from $28.00 to $29.00 in a note issued to investors on Wednesday, The Fly reports. Robert W. Baird’s price target would suggest a potential upside of 30.10% from the stock’s current price.
Other research analysts have also issued research reports about the stock. Truist Financial cut their price target on shares of Core & Main from $32.00 to $28.00 and set a “hold” rating on the stock in a report on Thursday, March 31st. Barclays raised shares of Core & Main from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $32.00 to $34.00 in a research report on Thursday, March 31st. Bank of America downgraded shares of Core & Main from a “neutral” rating to an “underperform” rating and decreased their price objective for the stock from $31.00 to $25.00 in a report on Thursday, February 17th. Finally, Royal Bank of Canada cut their price objective on shares of Core & Main from $33.00 to $31.00 and set an “outperform” rating on the stock in a research note on Thursday, March 31st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $30.42.
Shares of Core & Main stock opened at $22.29 on Wednesday. The company has a fifty day simple moving average of $23.44 and a 200-day simple moving average of $24.28. Core & Main has a 12-month low of $20.00 and a 12-month high of $32.54. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.09 and a current ratio of 2.11.
Core & Main (NYSE:CNM – Get Rating) last announced its quarterly earnings results on Wednesday, March 30th. The company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.06. The company had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.14 billion. The company’s revenue was up 49.9% on a year-over-year basis. Equities research analysts forecast that Core & Main will post 1.27 earnings per share for the current year.
In other Core & Main news, VP Jeffrey D. Giles sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, May 27th. The stock was sold at an average price of $25.04, for a total value of $751,200.00. Following the completion of the transaction, the vice president now directly owns 4,146 shares in the company, valued at $103,815.84. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Jeffrey D. Giles sold 2,600 shares of Core & Main stock in a transaction that occurred on Monday, May 16th. The stock was sold at an average price of $22.12, for a total value of $57,512.00. Following the transaction, the vice president now owns 4,146 shares of the company’s stock, valued at $91,709.52. The disclosure for this sale can be found here. Corporate insiders own 1.20% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE increased its stake in shares of Core & Main by 49.2% in the 1st quarter. Bank of America Corp DE now owns 133,418 shares of the company’s stock valued at $3,227,000 after purchasing an additional 44,019 shares during the last quarter. Verition Fund Management LLC bought a new stake in shares of Core & Main in the 1st quarter valued at about $480,000. The Manufacturers Life Insurance Company lifted its stake in shares of Core & Main by 8.0% in the 1st quarter. The Manufacturers Life Insurance Company now owns 55,419 shares of the company’s stock valued at $1,341,000 after purchasing an additional 4,118 shares during the period. Alyeska Investment Group L.P. acquired a new position in shares of Core & Main in the 1st quarter valued at about $7,497,000. Finally, Quantbot Technologies LP lifted its stake in shares of Core & Main by 267.7% in the 1st quarter. Quantbot Technologies LP now owns 9,927 shares of the company’s stock valued at $240,000 after purchasing an additional 7,227 shares during the period. 95.48% of the stock is owned by institutional investors and hedge funds.
About Core & Main (Get Rating)
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 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, and other related products; fire protection products, including fire protection pipes, sprinkler heads and other devices, fire suppression systems, and related accessories, as well as fabrication services; and meter products, such as smart meter products, installation, software and other services.
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