Core & Main, Inc. (NYSE:CNM) Receives $56.70 Consensus PT from Brokerages

Shares of Core & Main, Inc. (NYSE:CNM) have earned a consensus recommendation of “Moderate Buy” from the twelve brokerages that are presently covering the company, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $56.70.

A number of equities analysts have recently issued reports on CNM shares. Citigroup cut their price objective on shares of Core & Main from $54.00 to $53.00 and set a “neutral” rating on the stock in a research report on Thursday, June 11th. William Blair began coverage on Core & Main in a research report on Thursday, July 23rd. They set a “market perform” rating on the stock. Wall Street Zen cut shares of Core & Main from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Finally, The Goldman Sachs Group restated a “neutral” rating and set a $24.00 price target on shares of Core & Main in a report on Thursday, June 11th.

Insider Activity

In other news, Director James D. Hope purchased 2,067 shares of the company’s stock in a transaction dated Monday, July 6th. The shares were purchased at an average price of $46.01 per share, with a total value of $95,102.67. Following the transaction, the director directly owned 11,805 shares of the company’s stock, valued at approximately $543,148.05. This represents a 21.23% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.51% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. TD Waterhouse Canada Inc. purchased a new stake in shares of Core & Main during the fourth quarter worth $26,000. EverSource Wealth Advisors LLC grew its stake in Core & Main by 145.4% during the second quarter. EverSource Wealth Advisors LLC now owns 454 shares of the company’s stock valued at $27,000 after acquiring an additional 269 shares in the last quarter. Whittier Trust Co. bought a new stake in Core & Main during the 4th quarter worth approximately $28,000. Cubist Systematic Strategies LLC lifted its stake in Core & Main by 262.0% in the 1st quarter. Cubist Systematic Strategies LLC now owns 724 shares of the company’s stock worth $35,000 after purchasing an additional 524 shares in the last quarter. Finally, Quarry LP bought a new position in Core & Main in the 4th quarter valued at $38,000. 94.19% of the stock is owned by institutional investors.

Core & Main Trading Up 0.2%

CNM opened at $45.43 on Friday. Core & Main has a 1-year low of $41.88 and a 1-year high of $67.18. The company has a current ratio of 2.31, a quick ratio of 1.31 and a debt-to-equity ratio of 1.00. The company has a market cap of $8.79 billion, a P/E ratio of 19.25, a price-to-earnings-growth ratio of 1.58 and a beta of 0.92. The company has a fifty day moving average price of $45.96 and a two-hundred day moving average price of $49.42.

Core & Main Company Profile

Core & Main, Inc (NYSE:CNM) is a leading distributor of water, sewer, storm drainage and fire protection products across North America. The company’s product portfolio includes valves, hydrants, pipe and fittings, meters, couplings and other essential components that support municipal, industrial and environmental infrastructure projects. By combining a comprehensive inventory with logistics and technical support, Core & Main helps customers address complex water system and distribution challenges.

With more than 300 branch locations and over 3,500 employees, Core & Main serves a diverse customer base that includes municipalities, contractors, engineers and utility providers.