Core & Main (NYSE:CNM) Price Target Raised to $31.00 at Barclays

Core & Main (NYSE:CNMGet Rating) had its price target raised by Barclays to $31.00 in a report issued on Tuesday, Stock Target Advisor reports.

Several other equities analysts have also recently issued reports on CNM. Royal Bank of Canada lifted their price objective on Core & Main from $25.00 to $27.00 and gave the stock an outperform rating in a report on Thursday, September 15th. Citigroup raised their price target on Core & Main from $25.00 to $26.00 in a research report on Wednesday, September 14th. Truist Financial raised their price target on Core & Main from $25.00 to $28.00 and gave the stock a hold rating in a research report on Wednesday, September 14th. Robert W. Baird raised their price target on Core & Main from $27.00 to $30.00 and gave the stock an outperform rating in a research report on Wednesday, September 14th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Core & Main in a research report on Wednesday, August 17th. They issued a buy rating and a $40.00 price objective for the company. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of Hold and a consensus price target of $29.30.

Core & Main Trading Down 2.0 %

CNM opened at $23.36 on Tuesday. Core & Main has a one year low of $20.00 and a one year high of $32.54. The company has a market cap of $5.74 billion, a P/E ratio of 12.70, a PEG ratio of 0.90 and a beta of 1.08. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.20 and a current ratio of 2.28. The business’s 50-day simple moving average is $23.66 and its 200-day simple moving average is $23.28.

Core & Main (NYSE:CNMGet Rating) last posted its quarterly earnings data on Tuesday, September 13th. The company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.16. The company had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.65 billion. Core & Main had a return on equity of 23.39% and a net margin of 5.13%. The firm’s revenue for the quarter was up 43.4% on a year-over-year basis. During the same period last year, the firm earned $0.10 EPS. As a group, equities research analysts expect that Core & Main will post 1.86 EPS for the current fiscal year.

Insider Buying and Selling at Core & Main

In other Core & Main news, General Counsel Mark G. Whittenburg sold 6,179 shares of the stock in a transaction on Tuesday, August 16th. The shares were sold at an average price of $24.79, for a total transaction of $153,177.41. Following the transaction, the general counsel now directly owns 5,286 shares of the company’s stock, valued at $131,039.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, General Counsel Mark G. Whittenburg sold 6,179 shares of the stock in a transaction dated Tuesday, August 16th. The shares were sold at an average price of $24.79, for a total value of $153,177.41. Following the completion of the sale, the general counsel now owns 5,286 shares in the company, valued at $131,039.94. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Stephen O. Leclair sold 25,270 shares of the stock in a transaction dated Tuesday, August 16th. The shares were sold at an average price of $24.61, for a total transaction of $621,894.70. Following the completion of the sale, the chief executive officer now owns 35,742 shares of the company’s stock, valued at approximately $879,610.62. The disclosure for this sale can be found here. Insiders have sold a total of 104,537 shares of company stock valued at $2,592,657 in the last three months. 1.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CNM. UMB Bank N A MO acquired a new stake in shares of Core & Main in the first quarter valued at approximately $37,000. Assetmark Inc. boosted its position in shares of Core & Main by 155.2% during the second quarter. Assetmark Inc. now owns 1,613 shares of the company’s stock worth $36,000 after purchasing an additional 981 shares in the last quarter. MetLife Investment Management LLC bought a new position in shares of Core & Main during the first quarter worth $58,000. Point72 Hong Kong Ltd bought a new position in shares of Core & Main during the fourth quarter worth $76,000. Finally, NN Investment Partners Holdings N.V. bought a new position in shares of Core & Main during the first quarter worth $102,000. Institutional investors own 94.93% of the company’s stock.

Core & Main Company Profile

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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 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, and other related products; fire protection products, including fire protection pipes, sprinkler heads and other devices, fire suppression systems, and related accessories, as well as fabrication services; and meter products, such as smart meter products, installation, software and other services.

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