Core & Main (NYSE:CNM – Get Rating) had its price target dropped by equities research analysts at Truist Financial from $28.00 to $25.00 in a research note issued on Thursday, The Fly reports. Truist Financial’s price objective would indicate a potential upside of 11.41% from the stock’s current price.
CNM has been the topic of several other research reports. Robert W. Baird lifted their price target on shares of Core & Main from $28.00 to $29.00 and gave the company an “outperform” rating in a report on Wednesday. Bank of America cut shares of Core & Main from a “neutral” rating to an “underperform” rating and reduced their price objective for the company from $31.00 to $25.00 in a research report on Thursday, February 17th. The Goldman Sachs Group reduced their price objective on shares of Core & Main from $31.00 to $27.00 and set a “neutral” rating on the stock in a research report on Wednesday. Royal Bank of Canada reduced their price objective on shares of Core & Main from $31.00 to $28.00 in a research report on Wednesday. Finally, Barclays upgraded shares of Core & Main from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $32.00 to $34.00 in a research report on Thursday, March 31st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $29.25.
CNM opened at $22.44 on Thursday. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.11 and a quick ratio of 1.09. The company’s 50 day moving average is $23.42 and its 200 day moving average is $24.26. Core & Main has a 12-month low of $20.00 and a 12-month high of $32.54.
Core & Main (NYSE:CNM – Get Rating) last issued its quarterly earnings results on Wednesday, March 30th. The company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.06. The firm had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.14 billion. The firm’s quarterly revenue was up 49.9% compared to the same quarter last year. Equities analysts forecast that Core & Main will post 1.27 earnings per share for the current year.
In other news, VP Jeffrey D. Giles sold 30,000 shares of the business’s stock in a transaction on Friday, May 27th. The shares were sold at an average price of $25.04, for a total transaction of $751,200.00. Following the completion of the sale, the vice president now directly owns 4,146 shares of the company’s stock, valued at $103,815.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Jeffrey D. Giles sold 2,600 shares of the business’s stock in a transaction on Monday, May 16th. The shares were sold at an average price of $22.12, for a total transaction of $57,512.00. Following the sale, the vice president now directly owns 4,146 shares of the company’s stock, valued at $91,709.52. The disclosure for this sale can be found here. 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. Advisor Group Holdings Inc. lifted its stake in Core & Main by 2.7% in the fourth quarter. Advisor Group Holdings Inc. now owns 26,083 shares of the company’s stock worth $790,000 after acquiring an additional 689 shares during the period. Metropolitan Life Insurance Co NY purchased a new stake in shares of Core & Main during the third quarter valued at about $32,000. UMB Bank N A MO purchased a new stake in shares of Core & Main during the first quarter valued at about $37,000. Levin Capital Strategies L.P. lifted its position in shares of Core & Main by 15.4% during the first quarter. Levin Capital Strategies L.P. now owns 15,000 shares of the company’s stock valued at $363,000 after buying an additional 2,000 shares during the last quarter. Finally, UBS Group AG acquired a new position in shares of Core & Main during the third quarter valued at about $54,000. 95.48% of the stock is owned by institutional investors.
Core & Main Company Profile (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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Source: defenseworld.net
