Core & Main (NYSE:CNM – Get Free Report) had its price target raised by equities research analysts at Robert W. Baird from $53.00 to $60.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Robert W. Baird’s target price would suggest a potential upside of 30.55% from the stock’s previous close.
Several other brokerages have also commented on CNM. Royal Bank of Canada decreased their price target on Core & Main from $60.00 to $53.00 and set an “outperform” rating on the stock in a research note on Thursday, September 5th. Bank of America dropped their price target on shares of Core & Main from $38.00 to $34.00 and set an “underperform” rating for the company in a research report on Thursday, September 5th. JPMorgan Chase & Co. decreased their price objective on shares of Core & Main from $54.00 to $52.00 and set an “overweight” rating on the stock in a report on Tuesday, September 3rd. Wells Fargo & Company assumed coverage on shares of Core & Main in a research note on Monday, September 23rd. They set an “overweight” rating and a $52.00 target price on the stock. Finally, The Goldman Sachs Group lowered their price target on Core & Main from $57.00 to $50.00 and set a “neutral” rating for the company in a report on Friday, September 6th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $51.20.
View Our Latest Analysis on Core & Main
Core & Main Price Performance
Core & Main (NYSE:CNM – Get Free Report) last released its quarterly earnings data on Wednesday, September 4th. The company reported $0.61 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.13). The company had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $2.05 billion. Core & Main had a return on equity of 21.91% and a net margin of 5.58%. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.66 EPS. As a group, equities analysts expect that Core & Main will post 2.1 EPS for the current fiscal year.
Hedge Funds Weigh In On Core & Main
A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Core & Main by 35.2% in the 1st quarter. Vanguard Group Inc. now owns 18,138,994 shares of the company’s stock valued at $1,038,457,000 after purchasing an additional 4,721,510 shares during the last quarter. Select Equity Group L.P. increased its position in shares of Core & Main by 0.3% during the second quarter. Select Equity Group L.P. now owns 15,426,777 shares of the company’s stock worth $754,986,000 after acquiring an additional 39,475 shares during the last quarter. Capital International Investors boosted its stake in shares of Core & Main by 470.6% during the 1st quarter. Capital International Investors now owns 5,093,278 shares of the company’s stock valued at $291,590,000 after buying an additional 4,200,591 shares during the last quarter. Pacer Advisors Inc. increased its stake in shares of Core & Main by 37.1% in the second quarter. Pacer Advisors Inc. now owns 4,208,698 shares of the company’s stock worth $205,974,000 after buying an additional 1,137,817 shares during the last quarter. Finally, Anomaly Capital Management LP increased its holdings in shares of Core & Main by 35.9% in the 2nd quarter. Anomaly Capital Management LP now owns 3,608,523 shares of the company’s stock valued at $176,601,000 after acquiring an additional 953,489 shares during the last quarter. 94.19% of the stock is owned by institutional investors and hedge funds.
About Core & Main
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 portfolio 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, erosion control, and other related products; fire protection products, including fire protection pipes, and sprinkler heads and devices, as well as fabrication services; and meter products, such as smart meter products, meter sets, meter accessories, installation, software, and other services.
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