Robert W. Baird Cuts Core & Main (NYSE:CNM) Price Target to $65.00

Core & Main (NYSE:CNM) had its price objective reduced by Robert W. Baird from $66.00 to $65.00 in a research note released on Wednesday morning,Benzinga reports. Robert W. Baird currently has an outperform rating on the stock.

Several other equities research analysts also recently weighed in on the company. Barclays raised their price target on Core & Main from $57.00 to $65.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Royal Bank of Canada reissued an “outperform” rating and set a $62.00 target price (up previously from $53.00) on shares of Core & Main in a research report on Wednesday, December 4th. Loop Capital upped their price target on shares of Core & Main from $52.00 to $63.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Wells Fargo & Company lifted their target price on Core & Main from $62.00 to $65.00 and gave the stock an “overweight” rating in a report on Tuesday, February 4th. Finally, Citigroup lifted their price objective on shares of Core & Main from $43.00 to $56.00 and gave the company a “neutral” rating in a research note on Monday, January 6th. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $57.30.

Core & Main Price Performance

Shares of CNM stock opened at $48.46 on Wednesday. The stock’s 50-day moving average is $51.87 and its 200 day moving average is $48.81. Core & Main has a 1-year low of $37.22 and a 1-year high of $62.15. The company has a debt-to-equity ratio of 1.36, a current ratio of 2.14 and a quick ratio of 1.28. The company has a market cap of $9.63 billion, a P/E ratio of 22.75, a PEG ratio of 2.61 and a beta of 1.05.

Core & Main (NYSE:CNM) last posted its quarterly earnings data on Tuesday, March 25th. The company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.03). Core & Main had a return on equity of 24.71% and a net margin of 5.71%. The firm had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.67 billion. During the same quarter last year, the firm earned $0.34 EPS. The company’s revenue was up 17.9% compared to the same quarter last year. Research analysts predict that Core & Main will post 2.16 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP John R. Schaller sold 21,868 shares of the company’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $46.82, for a total transaction of $1,023,859.76. Following the completion of the sale, the executive vice president now owns 16,452 shares of the company’s stock, valued at $770,282.64. This represents a 57.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Bradford A. Cowles sold 12,500 shares of the company’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $50.50, for a total transaction of $631,250.00. Following the sale, the president now directly owns 16,010 shares of the company’s stock, valued at approximately $808,505. This represents a 43.84 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 184,294 shares of company stock valued at $9,383,685. 3.49% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Core & Main

A number of large investors have recently made changes to their positions in CNM. Wealth Enhancement Advisory Services LLC purchased a new stake in Core & Main in the 4th quarter valued at $201,000. Polar Asset Management Partners Inc. grew its holdings in shares of Core & Main by 12.9% in the fourth quarter. Polar Asset Management Partners Inc. now owns 76,900 shares of the company’s stock valued at $3,915,000 after purchasing an additional 8,800 shares during the period. PharVision Advisers LLC acquired a new stake in Core & Main during the fourth quarter worth about $417,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Core & Main by 14.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 786,744 shares of the company’s stock worth $40,053,000 after purchasing an additional 97,005 shares during the period. Finally, Woodline Partners LP boosted its holdings in Core & Main by 64.5% in the 4th quarter. Woodline Partners LP now owns 310,014 shares of the company’s stock valued at $15,783,000 after purchasing an additional 121,538 shares during the last quarter. 94.19% of the stock is currently owned by hedge funds and other institutional investors.

Core & Main Company Profile

Core & Main, Inc is a specialty distributor focused on water, wastewater, storm drainage and fire protection products, and related services. The company provides infrastructure solutions to municipalities, private water companies and professional contractors across municipal, non-residential, and residential end markets, nationwide.