Loop Capital Raises Core & Main (NYSE:CNM) Price Target to $64.00

Core & Main (NYSE:CNMFree Report) had its price target increased by Loop Capital from $58.00 to $64.00 in a research note published on Wednesday, Benzinga reports. The brokerage currently has a buy rating on the stock.

CNM has been the topic of several other reports. Citigroup raised Core & Main from a neutral rating to a buy rating and upped their target price for the company from $38.00 to $48.00 in a research report on Monday, January 8th. Royal Bank of Canada upped their target price on Core & Main from $34.00 to $38.00 and gave the company an outperform rating in a research report on Tuesday, November 28th. The Goldman Sachs Group upped their target price on Core & Main from $38.00 to $42.00 and gave the company a neutral rating in a research report on Thursday, December 14th. Barclays upped their target price on Core & Main from $38.00 to $49.00 and gave the company an overweight rating in a research report on Friday, December 8th. Finally, Truist Financial increased their price target on Core & Main from $30.00 to $38.00 and gave the stock a hold rating in a research report on Friday, December 8th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and an average price target of $48.42.

Read Our Latest Stock Report on CNM

Core & Main Stock Up 0.5 %

Shares of NYSE:CNM opened at $58.18 on Wednesday. Core & Main has a 52-week low of $20.62 and a 52-week high of $58.26. The stock has a market cap of $12.58 billion, a P/E ratio of 27.06, a price-to-earnings-growth ratio of 2.60 and a beta of 1.11. The business’s 50 day moving average is $45.45 and its 200 day moving average is $37.67. The company has a quick ratio of 1.46, a current ratio of 2.29 and a debt-to-equity ratio of 1.22.

Core & Main (NYSE:CNMGet Free Report) last posted its earnings results on Tuesday, March 19th. The company reported $0.34 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.34. The company had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.43 billion. Core & Main had a return on equity of 18.22% and a net margin of 5.54%. Core & Main’s revenue was up 4.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.31 earnings per share. Sell-side analysts predict that Core & Main will post 2.5 EPS for the current year.

Insider Activity at Core & Main

In related news, VP John Weldon Stephens sold 43,900 shares of Core & Main stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $50.02, for a total value of $2,195,878.00. Following the completion of the sale, the vice president now owns 3,468 shares in the company, valued at approximately $173,469.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Core & Main news, VP John Weldon Stephens sold 43,900 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $50.02, for a total value of $2,195,878.00. Following the completion of the transaction, the vice president now owns 3,468 shares in the company, valued at $173,469.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Stephen O. Leclair sold 150,000 shares of Core & Main stock in a transaction on Thursday, January 11th. The stock was sold at an average price of $40.66, for a total transaction of $6,099,000.00. Following the sale, the chief executive officer now directly owns 73,692 shares of the company’s stock, valued at $2,996,316.72. The disclosure for this sale can be found here. In the last quarter, insiders sold 46,269,043 shares of company stock worth $1,832,498,260. Insiders own 3.49% of the company’s stock.

Institutional Investors Weigh In On Core & Main

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of Core & Main by 41.4% during the fourth quarter. Vanguard Group Inc. now owns 13,417,484 shares of the company’s stock worth $542,201,000 after acquiring an additional 3,926,588 shares during the period. Wellington Management Group LLP lifted its stake in shares of Core & Main by 486.6% during the fourth quarter. Wellington Management Group LLP now owns 350,547 shares of the company’s stock valued at $14,166,000 after buying an additional 290,792 shares during the period. American International Group Inc. lifted its stake in shares of Core & Main by 20,185.1% during the fourth quarter. American International Group Inc. now owns 184,594 shares of the company’s stock valued at $7,459,000 after buying an additional 183,684 shares during the period. Teachers Retirement System of The State of Kentucky purchased a new position in Core & Main during the fourth quarter worth approximately $1,414,000. Finally, Quarry LP raised its stake in Core & Main by 87.0% during the fourth quarter. Quarry LP now owns 1,909 shares of the company’s stock worth $77,000 after purchasing an additional 888 shares during the period. 94.19% of the stock is owned by hedge funds and other institutional investors.

About Core & Main

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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 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.

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Analyst Recommendations for Core & Main (NYSE:CNM)

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