Core & Main (NYSE:CNM) Stock Rating Cut to “Hold” at Wall Street Zen

Wall Street Zen lowered shares of Core & Main (NYSE:CNM) from a buy rating to a hold rating in a research report released on Saturday morning,Wall Street Zen reports.

Several other analysts have also recently weighed in on the company. Barclays cut their price objective on Core & Main from $62.00 to $61.00 and set an “overweight” rating on the stock in a research report on Thursday, September 10th. Zacks Research downgraded shares of Core & Main from a “hold” rating to a “strong sell” rating in a report on Monday, September 14th. Royal Bank Of Canada dropped their target price on Core & Main from $60.00 to $57.00 and set an “outperform” rating for the company in a research report on Wednesday. Robert W. Baird dropped their target price on shares of Core & Main from $66.00 to $57.00 and set an “outperform” rating on the stock in a report on Thursday, September 10th. Finally, Truist Financial decreased their price target on Core & Main from $50.00 to $45.00 and set a “hold” rating for the company in a research note on Thursday, September 10th. Seven analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $54.40.

Core & Main Price Performance

CNM stock opened at $40.37 on Friday. Core & Main has a 52-week low of $39.42 and a 52-week high of $59.66. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.51 and a current ratio of 2.47. The company has a fifty day moving average price of $43.43 and a 200-day moving average price of $46.53. The company has a market capitalization of $7.69 billion, a P/E ratio of 16.61, a PEG ratio of 1.69 and a beta of 0.91.

Core & Main (NYSE:CNM) last posted its earnings results on Wednesday, September 9th. The company reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.03. The company had revenue of $2.15 billion for 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 firm’s revenue was up 2.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.87 EPS. As a group, equities analysts expect that Core & Main will post 3.00 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of CNM. Root Financial Partners LLC raised its stake in shares of Core & Main by 111.6% in the 1st quarter. Root Financial Partners LLC now owns 895 shares of the company’s stock valued at $44,000 after acquiring an additional 472 shares during the period. EverSource Wealth Advisors LLC raised its stake in shares of Core & Main by 42.3% during the first quarter. EverSource Wealth Advisors LLC now owns 2,389 shares of the company’s stock valued at $118,000 after purchasing an additional 710 shares in the last quarter. SkyView Investment Advisors LLC bought a new position in Core & Main during the second quarter valued at about $145,000. HB Wealth Management LLC purchased a new stake in shares of Core & Main during the first quarter valued at $205,000. Finally, iSAM Funds UK Ltd acquired a new position in Core & Main during the second quarter valued at $207,000. 94.19% of the stock is currently owned by institutional investors and hedge funds.

Core & Main Company Profile

Core & Main, Inc (NYSE: CNM) is a specialized distributor of infrastructure products serving the water, wastewater, storm drainage, fire protection and related utility markets. The company supplies products used to build, repair and maintain essential public and private infrastructure across the United States.

Its product portfolio includes ductile iron and plastic pipe, valves, hydrants, water meters, fittings, and other waterworks components. Core & Main also distributes stormwater drainage products, fire protection equipment and related solutions.