Core & Main (NYSE:CNM) Price Target Raised to $57.00 at The Goldman Sachs Group

Core & Main (NYSE:CNM) had its target price raised by equities researchers at The Goldman Sachs Group from $50.00 to $57.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the stock. The Goldman Sachs Group’s price target points to a potential upside of 4.36% from the stock’s current price.

A number of other research analysts have also weighed in on the stock. Truist Financial raised their target price on shares of Core & Main from $38.00 to $56.00 and gave the stock a “hold” rating in a research note on Wednesday. JPMorgan Chase & Co. dropped their price target on shares of Core & Main from $54.00 to $52.00 and set an “overweight” rating for the company in a research note on Tuesday, September 3rd. Barclays lifted their price objective on shares of Core & Main from $57.00 to $65.00 and gave the stock an “overweight” rating in a research report on Wednesday. Loop Capital lifted their price objective on shares of Core & Main from $52.00 to $63.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $62.00 price target (up from $53.00) on shares of Core & Main in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $58.10.

Core & Main Trading Down 1.1 %

Core & Main stock traded down $0.63 during trading hours on Thursday, hitting $54.62. The company had a trading volume of 789,575 shares, compared to its average volume of 2,595,378. Core & Main has a 1 year low of $35.70 and a 1 year high of $62.15. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.34 and a current ratio of 2.14. The firm has a market cap of $10.99 billion, a P/E ratio of 25.64, a P/E/G ratio of 3.63 and a beta of 1.04. The company has a 50-day moving average price of $45.25 and a two-hundred day moving average price of $48.11.

Core & Main (NYSE:CNM) last issued its earnings results on Tuesday, December 3rd. The company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.04. The company had revenue of $2.04 billion during the quarter, compared to analyst estimates of $1.99 billion. Core & Main had a return on equity of 24.71% and a net margin of 5.71%. The firm’s quarterly revenue was up 11.5% on a year-over-year basis. During the same quarter last year, the business posted $0.65 EPS. On average, sell-side analysts anticipate that Core & Main will post 2.1 earnings per share for the current year.

Institutional Investors Weigh In On Core & Main

A number of hedge funds have recently modified their holdings of CNM. Ashton Thomas Securities LLC purchased a new stake in shares of Core & Main in the 3rd quarter worth approximately $26,000. ORG Wealth Partners LLC purchased a new stake in Core & Main during the third quarter valued at approximately $31,000. Wilmington Savings Fund Society FSB purchased a new stake in Core & Main during the third quarter valued at approximately $49,000. GAMMA Investing LLC lifted its position in Core & Main by 61.1% during the third quarter. GAMMA Investing LLC now owns 1,348 shares of the company’s stock valued at $60,000 after acquiring an additional 511 shares during the last quarter. Finally, Brown Brothers Harriman & Co. purchased a new position in shares of Core & Main in the second quarter worth $76,000. Institutional investors own 94.19% of the company’s stock.

Core & Main Company Profile

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.