Core & Main (NYSE:CNM) Upgraded to Hold at Zacks Research

Core & Main (NYSE:CNM) was upgraded by stock analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Monday, Zacks reports.

CNM has been the topic of several other reports. William Blair initiated coverage on Core & Main in a research report on Thursday, July 23rd. They set a “market perform” rating on the stock. Wolfe Research initiated coverage on Core & Main in a research report on Tuesday, September 15th. They issued an “outperform” rating and a $63.00 target price for the company. Wells Fargo & Company decreased their target price on Core & Main from $65.00 to $48.00 and set an “overweight” rating for the company in a research report on Thursday, September 10th. Royal Bank Of Canada lowered their target price on shares of Core & Main from $60.00 to $57.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 7th. Finally, Jefferies Financial Group began coverage on shares of Core & Main in a report on Wednesday, November 4th. They set a “buy” rating and a $53.00 price objective for the company. Eight analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $54.27.

Core & Main Price Performance

CNM stock opened at $47.38 on Monday. 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 firm has a market capitalization of $9.02 billion, a price-to-earnings ratio of 19.50, a PEG ratio of 2.00 and a beta of 0.91. The firm has a 50 day moving average price of $42.68 and a 200-day moving average price of $47.62.

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

Institutional Trading of Core & Main

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GW&K Investment Management LLC bought a new position in Core & Main in the third quarter worth approximately $27,000. Voya Investment Management LLC grew its position in shares of Core & Main by 41.7% during the 3rd quarter. Voya Investment Management LLC now owns 175,459 shares of the company’s stock valued at $7,278,000 after acquiring an additional 51,661 shares during the period. Impax Asset Management Group plc increased its stake in shares of Core & Main by 14.9% in the 3rd quarter. Impax Asset Management Group plc now owns 4,829,730 shares of the company’s stock worth $200,337,000 after purchasing an additional 626,112 shares in the last quarter. Cullen Capital Management LLC increased its stake in shares of Core & Main by 30.3% in the 3rd quarter. Cullen Capital Management LLC now owns 17,371 shares of the company’s stock worth $721,000 after purchasing an additional 4,041 shares in the last quarter. Finally, Edgestream Partners L.P. purchased a new stake in shares of Core & Main in the 3rd quarter worth $663,000. 94.19% of the stock is owned by hedge funds and other institutional investors.

Core & Main Company Profile

Core & Main, Inc. is a distributor of products and services used in water, wastewater, storm drainage, and fire protection infrastructure. Its customers include municipalities, water utilities, contractors, and other commercial and industrial organizations. The company offers products such as pipe, valves, fittings, hydrants, meters, and related supplies. It also provides services supporting infrastructure projects, including product fabrication and technical assistance. Based in St. Louis, Missouri, Core & Main serves customers across the United States through a network of branches.