Core & Main (NYSE:CNM) Cut to Neutral at Northcoast Research

Northcoast Research cut shares of Core & Main (NYSE:CNM) from a buy rating to a neutral rating in a research note published on Wednesday morning, Marketbeat.com reports.

CNM has been the topic of a number of other reports. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $24.00 price objective on shares of Core & Main in a research note on Thursday, June 11th. William Blair initiated coverage on shares of Core & Main in a report on Thursday, July 23rd. They issued a “market perform” rating on the stock. Wall Street Zen lowered shares of Core & Main from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Finally, Citigroup dropped their price target 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. Seven research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, Core & Main has an average rating of “Moderate Buy” and an average target price of $56.70.

Core & Main Price Performance

Shares of NYSE:CNM opened at $42.95 on Wednesday. The stock’s 50 day moving average is $45.30 and its 200-day moving average is $48.84. Core & Main has a twelve month low of $41.88 and a twelve month high of $67.18. The company has a quick ratio of 1.31, a current ratio of 2.31 and a debt-to-equity ratio of 1.00. The firm has a market capitalization of $8.31 billion, a price-to-earnings ratio of 18.20, a PEG ratio of 1.51 and a beta of 0.92.

Insider Buying and Selling

In related news, Director James D. Hope acquired 2,067 shares of the company’s stock in a transaction on Monday, July 6th. The shares were acquired at an average cost of $46.01 per share, for a total transaction of $95,102.67. Following the purchase, the director owned 11,805 shares in the company, valued at approximately $543,148.05. The trade was a 21.23% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 1.51% of the company’s stock.

Institutional Trading of Core & Main

Several institutional investors have recently made changes to their positions in CNM. TD Waterhouse Canada Inc. bought a new position in shares of Core & Main during the fourth quarter valued at about $26,000. EverSource Wealth Advisors LLC grew its position in Core & Main by 145.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 454 shares of the company’s stock worth $27,000 after purchasing an additional 269 shares in the last quarter. Cubist Systematic Strategies LLC grew its position 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. Quarry LP purchased a new stake in Core & Main in the 4th quarter valued at about $38,000. Finally, Root Financial Partners LLC increased its stake in Core & Main by 111.6% in the 1st quarter. Root Financial Partners LLC now owns 895 shares of the company’s stock valued at $44,000 after buying an additional 472 shares during the last quarter. Institutional investors own 94.19% of the company’s stock.

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.