Core & Main, Inc. (NYSE:CNM) Receives $58.10 Consensus Target Price from Analysts

Core & Main, Inc. (NYSE:CNM) has been given an average recommendation of “Moderate Buy” by the ten analysts that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and six have issued a buy recommendation on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $58.10.

A number of equities research analysts have recently weighed in on the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $62.00 price target (up from $53.00) on shares of Core & Main in a research note on Wednesday, December 4th. Barclays boosted their target price on Core & Main from $57.00 to $65.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. JPMorgan Chase & Co. dropped their price target on shares of Core & Main from $54.00 to $52.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 3rd. Robert W. Baird lifted their target price on shares of Core & Main from $60.00 to $66.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Finally, Bank of America decreased their price target on shares of Core & Main from $38.00 to $34.00 and set an “underperform” rating for the company in a report on Thursday, September 5th.

Core & Main Price Performance

Shares of NYSE CNM opened at $50.77 on Tuesday. Core & Main has a fifty-two week low of $37.22 and a fifty-two week high of $62.15. 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 firm’s 50-day simple moving average is $47.87 and its 200 day simple moving average is $47.74. 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 (NYSE:CNM) last released its quarterly earnings results on Tuesday, December 3rd. The company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.04. The business had revenue of $2.04 billion for the quarter, compared to analyst estimates 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 was up 11.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.65 earnings per share. Equities analysts expect that Core & Main will post 2.16 EPS for the current year.

Insider Buying and Selling

In other news, CEO Stephen O. Leclair sold 200,000 shares of Core & Main stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $54.88, for a total transaction of $10,976,000.00. Following the sale, the chief executive officer now owns 92,349 shares of the company’s stock, valued at approximately $5,068,113.12. This trade represents a 68.41 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Bradford A. Cowles sold 50,000 shares of the firm’s 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 completion of the transaction, the president now directly 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 ownership of the stock. 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 three months. 3.49% of the stock is owned by corporate insiders.

Institutional Trading of Core & Main

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Rhumbline Advisers lifted its stake in Core & Main by 6.2% during the second quarter. Rhumbline Advisers now owns 508,554 shares of the company’s stock worth $24,889,000 after purchasing an additional 29,490 shares during the period. Eagle Asset Management Inc. lifted its position in shares of Core & Main by 2.6% during the 3rd quarter. Eagle Asset Management Inc. now owns 1,720,496 shares of the company’s stock worth $74,979,000 after buying an additional 44,282 shares during the period. Quest Partners LLC boosted its stake in Core & Main by 1,195,600.0% in the 3rd quarter. Quest Partners LLC now owns 11,957 shares of the company’s stock valued at $531,000 after buying an additional 11,956 shares in the last quarter. B. Riley Wealth Advisors Inc. bought a new stake in Core & Main in the third quarter valued at $774,000. Finally, South Street Advisors LLC acquired a new position in Core & Main during the second quarter worth $8,427,000. Institutional investors own 94.19% of the company’s stock.

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.