Analysts Set Core & Main, Inc. (NYSE:CNM) Price Target at $58.10

Core & Main, Inc. (NYSE:CNM) has been given an average recommendation of “Moderate Buy” by the ten ratings firms that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $58.10.

A number of equities research analysts recently issued reports on CNM shares. The Goldman Sachs Group upped 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, December 5th. Robert W. Baird increased their price objective on Core & Main from $60.00 to $66.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Bank of America cut their target price on shares of Core & Main from $38.00 to $34.00 and set an “underperform” rating for the company in a research note on Thursday, September 5th. JPMorgan Chase & Co. reduced their target price on shares of Core & Main from $54.00 to $52.00 and set an “overweight” rating on the stock in a report on Tuesday, September 3rd. Finally, Barclays lifted their price target on shares of Core & Main from $57.00 to $65.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th.

Insiders Place Their Bets

In other Core & Main news, EVP Jeffrey D. Giles sold 25,000 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $54.71, for a total transaction of $1,367,750.00. Following the transaction, the executive vice president now owns 11,615 shares in the company, valued at $635,456.65. The trade was a 68.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President Bradford A. Cowles sold 50,000 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $55.07, for a total value of $2,753,500.00. Following the completion of the sale, the president now owns 18,423 shares of the company’s stock, valued at approximately $1,014,554.61. This trade represents a 73.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 290,000 shares of company stock valued at $15,926,000 over the last quarter. Company insiders own 3.49% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Ashton Thomas Securities LLC acquired a new stake in Core & Main during the 3rd quarter valued at approximately $26,000. ORG Wealth Partners LLC acquired a new stake in shares of Core & Main during the third quarter worth approximately $31,000. Wilmington Savings Fund Society FSB acquired a new stake in Core & Main in the third quarter valued at $49,000. GAMMA Investing LLC boosted its stake in Core & Main by 61.1% during the 3rd quarter. GAMMA Investing LLC now owns 1,348 shares of the company’s stock valued at $60,000 after acquiring an additional 511 shares during the last quarter. Finally, Brown Brothers Harriman & Co. acquired a new stake in shares of Core & Main in the 2nd quarter valued at about $76,000. 94.19% of the stock is currently owned by hedge funds and other institutional investors.

Core & Main Trading Down 0.5 %

Shares of CNM stock opened at $50.77 on Tuesday. The stock has a market cap of $10.09 billion, a P/E ratio of 23.84, a P/E/G ratio of 2.95 and a beta of 1.04. The company has a quick ratio of 1.28, a current ratio of 2.14 and a debt-to-equity ratio of 1.36. Core & Main has a fifty-two week low of $37.22 and a fifty-two week high of $62.15. The business has a fifty day simple moving average of $47.87 and a 200-day simple moving average of $47.74.

Core & Main (NYSE:CNM) last posted its earnings results on Tuesday, December 3rd. The company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.04. The firm had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $1.99 billion. Core & Main had a net margin of 5.71% and a return on equity of 24.71%. The firm’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same period last year, the firm posted $0.65 EPS. On average, analysts forecast that Core & Main will post 2.16 earnings per share for the current fiscal year.

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.