Core & Main, Inc. (NYSE:CNM) Receives $50.08 Consensus Target Price from Brokerages

Shares of Core & Main, Inc. (NYSE:CNM) have been assigned a consensus rating of “Moderate Buy” from the nine research firms that are presently covering the company, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $50.08.

A number of equities research analysts have commented on CNM shares. Royal Bank of Canada raised their target price on Core & Main from $59.00 to $60.00 and gave the company an “outperform” rating in a report on Wednesday, March 20th. The Goldman Sachs Group boosted their price target on Core & Main from $42.00 to $61.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 26th. Barclays increased their price objective on shares of Core & Main from $49.00 to $65.00 and gave the company an “overweight” rating in a research note on Wednesday, March 20th. Loop Capital raised their price target on Core & Main from $58.00 to $64.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. Finally, Citigroup downgraded Core & Main from a “buy” rating to a “neutral” rating and upped their price objective for the company from $63.00 to $64.00 in a research report on Friday, April 5th.

Core & Main Trading Up 0.8 %

CNM opened at $54.61 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. Core & Main has a 52 week low of $25.16 and a 52 week high of $60.83. The business’s 50 day moving average is $52.15 and its two-hundred day moving average is $42.06. The firm has a market cap of $11.00 billion, a price-to-earnings ratio of 25.40, a price-to-earnings-growth ratio of 1.68 and a beta of 1.15.

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

Insider Transactions at Core & Main

In related news, VP Jeffrey D. Giles sold 40,000 shares of Core & Main stock in a transaction on Monday, February 12th. The shares were sold at an average price of $44.14, for a total transaction of $1,765,600.00. Following the transaction, the vice president now owns 8,217 shares in the company, valued at approximately $362,698.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Mark R. Witkowski sold 50,000 shares of the stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $58.51, for a total value of $2,925,500.00. Following the completion of the transaction, the chief financial officer now owns 23,898 shares of the company’s stock, valued at $1,398,271.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Jeffrey D. Giles sold 40,000 shares of the company’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $44.14, for a total transaction of $1,765,600.00. Following the completion of the sale, the vice president now directly owns 8,217 shares of the company’s stock, valued at approximately $362,698.38. The disclosure for this sale can be found here. Insiders have sold a total of 23,363,315 shares of company stock worth $960,746,759 in the last three months. 3.49% of the stock is currently owned by company insiders.

Institutional Trading of Core & Main

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Renaissance Capital LLC increased its stake in shares of Core & Main by 59.0% during the fourth quarter. Renaissance Capital LLC now owns 85,574 shares of the company’s stock valued at $3,458,000 after acquiring an additional 31,740 shares during the period. State of Michigan Retirement System acquired a new position in shares of Core & Main during the 4th quarter valued at $1,325,000. Exchange Traded Concepts LLC raised its stake in shares of Core & Main by 328.1% in the 4th quarter. Exchange Traded Concepts LLC now owns 78,854 shares of the company’s stock worth $3,186,000 after buying an additional 60,435 shares in the last quarter. Vaughan Nelson Investment Management L.P. lifted its holdings in shares of Core & Main by 4.4% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 1,734,897 shares of the company’s stock valued at $70,107,000 after buying an additional 73,790 shares during the period. Finally, New York State Teachers Retirement System bought a new position in Core & Main during the fourth quarter valued at about $1,805,000. 94.19% of the stock is currently owned by institutional investors.

Core & Main Company Profile

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.