Core & Main, Inc. (NYSE:CNM) Receives $52.90 Average Price Target from Brokerages

Core & Main, Inc. (NYSE:CNM) has earned an average recommendation of “Moderate Buy” from the eight analysts that are currently covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $52.90.

A number of research analysts recently issued reports on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Core & Main from $38.00 to $54.00 and gave the company an “overweight” rating in a research note on Tuesday, March 19th. Citigroup cut shares of Core & Main from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $63.00 to $64.00 in a research note on Friday, April 5th. Barclays raised their target price on shares of Core & Main from $49.00 to $65.00 and gave the company an “overweight” rating in a research report on Wednesday, March 20th. Loop Capital raised their target price on shares of Core & Main from $58.00 to $64.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Finally, The Goldman Sachs Group raised their target price on shares of Core & Main from $42.00 to $61.00 and gave the company a “neutral” rating in a research report on Tuesday, March 26th.

Insider Transactions at Core & Main

In other news, CAO John Weldon Stephens sold 5,503 shares of Core & Main stock in a transaction on Friday, April 19th. The shares were sold at an average price of $54.23, for a total transaction of $298,427.69. Following the transaction, the chief accounting officer now owns 4,281 shares in the company, valued at $232,158.63. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CAO John Weldon Stephens sold 5,503 shares of Core & Main stock in a transaction on Friday, April 19th. The shares were sold at an average price of $54.23, for a total transaction of $298,427.69. Following the transaction, the chief accounting officer now owns 4,281 shares in the company, valued at $232,158.63. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Mark R. Witkowski sold 50,000 shares of the business’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $59.50, for a total transaction of $2,975,000.00. Following the completion of the transaction, the chief financial officer now owns 23,898 shares in the company, valued at approximately $1,421,931. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 115,000 shares of company stock worth $6,501,567. Company insiders own 3.49% of the company’s stock.

Hedge Funds Weigh In On Core & Main

Several hedge funds and other institutional investors have recently bought and sold shares of CNM. Rise Advisors LLC acquired a new position in Core & Main in the first quarter valued at $27,000. Quadrant Capital Group LLC increased its stake in Core & Main by 74.5% in the fourth quarter. Quadrant Capital Group LLC now owns 855 shares of the company’s stock valued at $35,000 after purchasing an additional 365 shares in the last quarter. ORG Partners LLC bought a new stake in Core & Main in the first quarter valued at $38,000. Kepos Capital LP bought a new stake in Core & Main in the third quarter valued at $41,000. Finally, GAMMA Investing LLC bought a new stake in Core & Main in the fourth quarter valued at $41,000. Institutional investors and hedge funds own 94.19% of the company’s stock.

Core & Main Stock Up 2.9 %

Shares of CNM opened at $49.73 on Tuesday. The firm’s 50 day moving average is $54.25 and its 200-day moving average is $50.15. The stock has a market capitalization of $10.02 billion, a PE ratio of 23.24, a P/E/G ratio of 1.83 and a beta of 1.06. The company has a current ratio of 2.14, a quick ratio of 1.23 and a debt-to-equity ratio of 1.46. Core & Main has a 12 month low of $27.75 and a 12 month high of $62.15.

Core & Main (NYSE:CNM) last announced its quarterly earnings data on Tuesday, June 4th. The company reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.02). The firm had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.72 billion. Core & Main had a net margin of 5.53% and a return on equity of 20.01%. The business’s revenue was up 10.6% compared to the same quarter last year. During the same period last year, the business earned $0.50 earnings per share. Equities research analysts forecast that Core & Main will post 2.32 EPS for the current 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.