Core & Main (NYSE:CNM) Given New $50.00 Price Target at The Goldman Sachs Group

Core & Main (NYSE:CNM) had its price target trimmed by The Goldman Sachs Group from $57.00 to $50.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has a neutral rating on the stock.

CNM has been the topic of several other research reports. Loop Capital cut their price objective on Core & Main from $64.00 to $52.00 and set a buy rating on the stock in a research report on Thursday. Royal Bank of Canada cut their price target on shares of Core & Main from $60.00 to $53.00 and set an outperform rating on the stock in a report on Thursday. Robert W. Baird decreased their price objective on shares of Core & Main from $62.00 to $53.00 and set an outperform rating for the company in a report on Thursday. JPMorgan Chase & Co. reduced their target price on shares of Core & Main from $54.00 to $52.00 and set an overweight rating for the company in a research report on Tuesday. Finally, Barclays lowered their price target on shares of Core & Main from $65.00 to $57.00 and set an overweight rating on the stock in a report on Thursday. One analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Core & Main presently has an average rating of Moderate Buy and an average price target of $47.82.

Core & Main Stock Up 0.1 %

Core & Main stock opened at $38.02 on Friday. The firm has a market capitalization of $7.66 billion, a price-to-earnings ratio of 17.77, a price-to-earnings-growth ratio of 1.82 and a beta of 1.04. The firm’s fifty day moving average price is $49.66 and its two-hundred day moving average price is $52.59. Core & Main has a 1-year low of $27.75 and a 1-year high of $62.15. The company has a current ratio of 2.14, a quick ratio of 1.23 and a debt-to-equity ratio of 1.46.

Core & Main (NYSE:CNM) last issued 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). Core & Main had a return on equity of 20.01% and a net margin of 5.53%. The company had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $2.05 billion. During the same period last year, the company earned $0.66 earnings per share. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. On average, equities research analysts predict that Core & Main will post 2.32 earnings per share for the current fiscal year.

Insider Buying and Selling at Core & Main

In related news, Director James G. Castellano sold 12,500 shares of the company’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $52.22, for a total value of $652,750.00. Following the completion of the transaction, the director now directly owns 11,769 shares in the company, valued at $614,577.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.49% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Core & Main

Institutional investors have recently made changes to their positions in the business. Norges Bank purchased a new stake in Core & Main during the 4th quarter valued at about $69,282,000. Forest Avenue Capital Management LP bought a new position in shares of Core & Main in the fourth quarter worth approximately $13,085,000. Charles Schwab Investment Management Inc. increased its stake in shares of Core & Main by 27.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,348,537 shares of the company’s stock worth $54,494,000 after buying an additional 286,513 shares during the period. Chesapeake Capital Corp IL bought a new stake in Core & Main during the 4th quarter valued at $962,000. Finally, American International Group Inc. boosted its position in Core & Main by 20,185.1% during the 4th quarter. American International Group Inc. now owns 184,594 shares of the company’s stock valued at $7,459,000 after buying an additional 183,684 shares during the period. Hedge funds and other 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.