Core & Main (NYSE:CNM) Research Coverage Started at Jefferies Financial Group

Jefferies Financial Group initiated coverage on shares of Core & Main (NYSE:CNM) in a research report released on Wednesday, Marketbeat.com reports. The brokerage issued a buy rating and a $53.00 price target on the stock.

Several other analysts have also recently commented on the company. Truist Financial lowered their price target on Core & Main from $50.00 to $45.00 and set a “hold” rating for the company in a report on Thursday, September 10th. Wall Street Zen raised Core & Main from a “hold” rating to a “buy” rating in a research report on Sunday, October 18th. Deutsche Bank Aktiengesellschaft set a $55.00 price target on Core & Main in a research report on Thursday, September 10th. Citigroup decreased their target price on Core & Main from $53.00 to $46.00 and set a “neutral” rating on the stock in a report on Friday, September 11th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $53.00 target price on shares of Core & Main in a report on Thursday, September 10th. Eight research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $54.27.

Core & Main Stock Down 2.4%

CNM opened at $45.83 on Wednesday. The company’s 50-day moving average price is $42.49 and its two-hundred day moving average price is $47.73. The stock has a market cap of $8.73 billion, a price-to-earnings ratio of 18.86, a PEG ratio of 1.89 and a beta of 0.91. Core & Main has a twelve month low of $39.42 and a twelve month high of $59.66. The company has a quick ratio of 1.51, a current ratio of 2.47 and a debt-to-equity ratio of 1.16.

Core & Main (NYSE:CNM) last announced its earnings results on Wednesday, September 9th. The company reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.03. The business had revenue of $2.15 billion during the quarter, compared to analyst estimates of $2.14 billion. Core & Main had a net margin of 5.96% and a return on equity of 25.98%. The company’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.87 EPS. As a group, equities analysts expect that Core & Main will post 3.00 earnings per share for the current year.

Institutional Investors Weigh In On Core & Main

A number of large investors have recently bought and sold shares of CNM. First Trust Advisors LP boosted its position in Core & Main by 15.3% during the first quarter. First Trust Advisors LP now owns 6,130,840 shares of the company’s stock valued at $302,863,000 after purchasing an additional 812,770 shares during the last quarter. KBC Group NV grew its stake in shares of Core & Main by 4.5% during the 1st quarter. KBC Group NV now owns 2,737,992 shares of the company’s stock valued at $135,257,000 after acquiring an additional 119,076 shares during the period. Bessemer Group Inc. lifted its holdings in shares of Core & Main by 2.8% in the 1st quarter. Bessemer Group Inc. now owns 2,663,161 shares of the company’s stock worth $131,561,000 after buying an additional 72,712 shares during the period. Dimensional Fund Advisors LP boosted its position in Core & Main by 6.1% during the first quarter. Dimensional Fund Advisors LP now owns 2,661,022 shares of the company’s stock worth $131,425,000 after purchasing an additional 152,077 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in Core & Main by 12.6% during the 1st quarter. Bank of New York Mellon Corp now owns 1,231,839 shares of the company’s stock worth $60,853,000 after buying an additional 138,115 shares in the last quarter. 94.19% of the stock is currently owned by institutional investors.

Core & Main Company Profile

Core & Main, Inc is a distributor of specialized products for public and private infrastructure in the United States. The company primarily serves municipalities, contractors, and other customers involved in water, wastewater, storm drainage, and fire protection projects.

Its product offerings include water, sewer, and storm drainage pipe; valves, hydrants, and related waterworks products; fire protection equipment; and geosynthetic and other stormwater management products. Core & Main also provides product expertise, technical support, and related services to help customers plan and complete infrastructure projects.

The company traces its roots to the waterworks distribution business formerly operated by HD Supply.