Core & Main, Inc. (NYSE:CNM) Given Average Rating of “Moderate Buy” by Analysts

Shares of Core & Main, Inc. (NYSE:CNM) have earned a consensus rating of “Moderate Buy” from the ten analysts that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation and six have given a buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $58.10.

A number of research firms have weighed in on CNM. JPMorgan Chase & Co. decreased their price target on Core & Main from $54.00 to $52.00 and set an “overweight” rating for the company in a report on Tuesday, September 3rd. Bank of America decreased their price target on Core & Main from $38.00 to $34.00 and set an “underperform” rating for the company in a report on Thursday, September 5th. Truist Financial upped their price target on Core & Main from $38.00 to $56.00 and gave the stock a “hold” rating in a report on Wednesday. The Goldman Sachs Group increased their target price on Core & Main from $50.00 to $57.00 and gave the company a “neutral” rating in a research note on Thursday. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $62.00 target price (up from $53.00) on shares of Core & Main in a research note on Wednesday.

Core & Main Stock Down 1.1 %

CNM opened at $54.62 on Friday. The company has a market cap of $10.99 billion, a PE ratio of 25.64, a price-to-earnings-growth ratio of 3.63 and a beta of 1.04. Core & Main has a 1 year low of $35.70 and a 1 year high of $62.15. The firm has a 50 day moving average price of $45.25 and a 200 day moving average price of $48.11. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.34 and a current ratio of 2.14.

Core & Main (NYSE:CNM) last released its quarterly earnings results on Tuesday, December 3rd. The company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.04. The firm had revenue of $2.04 billion during the quarter, compared to analysts’ expectations of $1.99 billion. Core & Main had a return on equity of 24.71% and a net margin of 5.71%. Core & Main’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.65 EPS. Sell-side analysts expect that Core & Main will post 2.1 earnings per share for the current year.

Insider Buying and Selling

In other Core & Main news, President Bradford A. Cowles sold 50,000 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $55.07, for a total value of $2,753,500.00. Following the sale, the president now directly owns 18,423 shares of the company’s stock, valued at $1,014,554.61. This trade represents a 73.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Stephen O. Leclair sold 200,000 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $54.88, for a total value of $10,976,000.00. Following the completion of the sale, the chief executive officer now directly owns 92,349 shares in the company, valued at $5,068,113.12. This represents a 68.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 290,000 shares of company stock worth $15,926,000 over the last ninety days. 3.49% of the stock is owned by insiders.

Institutional Investors Weigh In On Core & Main

Several large investors have recently added to or reduced their stakes in CNM. Ashton Thomas Securities LLC acquired a new stake in Core & Main in the third quarter worth $26,000. ORG Wealth Partners LLC acquired a new stake in Core & Main in the third quarter worth $31,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Core & Main during the third quarter valued at $49,000. GAMMA Investing LLC increased its holdings in shares of Core & Main by 61.1% during the third quarter. GAMMA Investing LLC now owns 1,348 shares of the company’s stock valued at $60,000 after purchasing an additional 511 shares during the period. Finally, Brown Brothers Harriman & Co. acquired a new position in shares of Core & Main during the second quarter valued at $76,000. 94.19% of the stock is owned by institutional investors and hedge funds.

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.