Core & Main (NYSE:CNM) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Core & Main (NYSE:CNM) from a hold rating to a buy rating in a research report sent to investors on Sunday morning,Wall Street Zen reports.

A number of other research firms have also commented on CNM. Northcoast Research lowered Core & Main from a “buy” rating to a “neutral” rating in a report on Wednesday, August 26th. Zacks Research cut Core & Main from a “hold” rating to a “strong sell” rating in a research note on Monday, September 14th. William Blair began coverage on Core & Main in a report on Thursday, July 23rd. They set a “market perform” rating on the stock. Deutsche Bank Aktiengesellschaft set a $55.00 price target on Core & Main in a report on Thursday, September 10th. Finally, Robert W. Baird dropped their price objective on Core & Main from $66.00 to $57.00 and set an “outperform” rating on the stock in a research report on Thursday, September 10th. Seven research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $54.40.

Core & Main Trading Down 0.2%

Shares of NYSE CNM opened at $41.59 on Friday. The firm’s 50 day moving average price is $42.73 and its 200-day moving average price is $46.11. The company has a market cap of $7.92 billion, a PE ratio of 17.11, a P/E/G ratio of 1.74 and a beta of 0.91. 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.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CNM. IFP Advisors Inc grew its position in shares of Core & Main by 142.7% during the 3rd quarter. IFP Advisors Inc now owns 1,296 shares of the company’s stock valued at $54,000 after acquiring an additional 762 shares during the period. Counterpoint Mutual Funds LLC purchased a new stake in shares of Core & Main in the 3rd quarter worth $250,000. Ellsworth Advisors LLC purchased a new stake in shares of Core & Main in the 3rd quarter worth $6,417,000. Perpetual Ltd raised its holdings in Core & Main by 1.5% in the 3rd quarter. Perpetual Ltd now owns 239,677 shares of the company’s stock worth $9,942,000 after purchasing an additional 3,642 shares during the period. Finally, Diversified Management Inc. bought a new position in Core & Main in the 3rd quarter worth $1,177,000. Institutional investors own 94.19% of the company’s stock.

About Core & Main

Core & Main, Inc is a distributor of specialized products for public and private infrastructure in the United States. The company primarily serves municipalities, contractors, and other customers involved in water, wastewater, storm drainage, and fire protection projects.

Its product offerings include water, sewer, and storm drainage pipe; valves, hydrants, and related waterworks products; fire protection equipment; and geosynthetic and other stormwater management products. Core & Main also provides product expertise, technical support, and related services to help customers plan and complete infrastructure projects.

The company traces its roots to the waterworks distribution business formerly operated by HD Supply.