Brokerages Set Core & Main, Inc. (NYSE:CNM) PT at $50.08

Core & Main, Inc. (NYSE:CNM) has been given an average recommendation of “Moderate Buy” by the nine ratings firms that are presently covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12-month target price among brokers that have covered the stock in the last year is $50.08.

CNM has been the subject of several recent research reports. Royal Bank of Canada boosted their target price on shares of Core & Main from $59.00 to $60.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 20th. The Goldman Sachs Group upped their price objective on shares of Core & Main from $42.00 to $61.00 and gave the stock a “neutral” rating in a report on Tuesday, March 26th. Truist Financial reaffirmed a “hold” rating and set a $38.00 price objective on shares of Core & Main in a report on Wednesday, March 20th. JPMorgan Chase & Co. upped their price objective on shares of Core & Main from $38.00 to $54.00 and gave the stock an “overweight” rating in a report on Tuesday, March 19th. Finally, Citigroup downgraded shares of Core & Main from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $63.00 to $64.00 in a report on Friday, April 5th.

Core & Main Stock Performance

CNM stock opened at $56.16 on Thursday. The company has a quick ratio of 1.30, a current ratio of 2.29 and a debt-to-equity ratio of 1.22. The company has a market capitalization of $11.31 billion, a price-to-earnings ratio of 26.12, a P/E/G ratio of 1.69 and a beta of 1.15. Core & Main has a 12 month low of $25.16 and a 12 month high of $60.83. The firm has a 50 day moving average of $52.65 and a two-hundred day moving average of $42.34.

Core & Main (NYSE:CNM) last posted its earnings results on Tuesday, March 19th. The company reported $0.34 EPS for the quarter, hitting the consensus estimate of $0.34. The company had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.43 billion. Core & Main had a net margin of 5.54% and a return on equity of 18.22%. The company’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.31 earnings per share. As a group, equities analysts anticipate that Core & Main will post 2.59 EPS for the current fiscal year.

Insider Activity

In other news, CAO John Weldon Stephens sold 15,000 shares of the stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $57.91, for a total value of $868,650.00. Following the completion of the transaction, the chief accounting officer now owns 4,281 shares in the company, valued at approximately $247,912.71. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, CAO John Weldon Stephens sold 15,000 shares of the stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $57.91, for a total value of $868,650.00. Following the completion of the transaction, the chief accounting officer now owns 4,281 shares in the company, valued at approximately $247,912.71. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Stephen O. Leclair sold 150,000 shares of the stock in a transaction on Monday, February 12th. The shares were sold at an average price of $44.14, for a total transaction of $6,621,000.00. Following the completion of the transaction, the chief executive officer now owns 73,692 shares of the company’s stock, valued at approximately $3,252,764.88. The disclosure for this sale can be found here. In the last 90 days, insiders sold 520,500 shares of company stock worth $25,511,067. 3.49% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Core & Main

A number of hedge funds have recently made changes to their positions in CNM. Barclays PLC increased its position in shares of Core & Main by 895.1% during the 2nd quarter. Barclays PLC now owns 31,724 shares of the company’s stock worth $993,000 after purchasing an additional 28,536 shares in the last quarter. National Bank of Canada FI increased its position in shares of Core & Main by 57.0% during the 3rd quarter. National Bank of Canada FI now owns 12,001 shares of the company’s stock worth $342,000 after purchasing an additional 4,357 shares in the last quarter. Harbor Investment Advisory LLC acquired a new stake in shares of Core & Main during the 3rd quarter worth about $33,000. Exchange Traded Concepts LLC increased its position in shares of Core & Main by 17.3% during the 3rd quarter. Exchange Traded Concepts LLC now owns 18,419 shares of the company’s stock worth $531,000 after purchasing an additional 2,716 shares in the last quarter. Finally, Measured Wealth Private Client Group LLC acquired a new stake in shares of Core & Main during the 3rd quarter worth about $265,000. Institutional investors and hedge funds own 94.19% of the company’s stock.

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.