Core & Main, Inc. (NYSE:CNM) Given Average Rating of “Moderate Buy” by Analysts

Shares of Core & Main, Inc. (NYSE:CNMGet Free Report) have received an average rating of “Moderate Buy” from the nine brokerages that are currently covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $51.08.

CNM has been the topic of a number of recent analyst reports. 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 note on Tuesday, March 26th. 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 note on Wednesday, March 20th. Citigroup downgraded shares of Core & Main from a “buy” rating to a “neutral” rating and raised their target price for the company from $63.00 to $64.00 in a research note on Friday, April 5th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $60.00 target price on shares of Core & Main in a research note on Wednesday. Finally, Truist Financial lowered their target price on shares of Core & Main from $56.00 to $50.00 and set a “hold” rating on the stock in a research note on Wednesday.

Get Our Latest Analysis on CNM

Core & Main Trading Down 4.5 %

Shares of Core & Main stock opened at $47.38 on Friday. Core & Main has a 12-month low of $27.06 and a 12-month high of $62.15. The company has a market cap of $9.54 billion, a price-to-earnings ratio of 22.14, a PEG ratio of 1.50 and a beta of 1.12. The company has a current ratio of 2.14, a quick ratio of 1.30 and a debt-to-equity ratio of 1.46. The company’s 50-day moving average price is $57.41 and its 200-day moving average price is $48.01.

Core & Main (NYSE:CNMGet Free Report) last announced its quarterly earnings results 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 analysts’ expectations of $1.72 billion. Core & Main had a return on equity of 20.01% and a net margin of 5.53%. The company’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.50 earnings per share. On average, equities analysts expect that Core & Main will post 2.57 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Mark R. Witkowski sold 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $59.50, for a total value of $2,975,000.00. Following the transaction, the chief financial officer now owns 23,898 shares in the company, valued at $1,421,931. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CAO John Weldon Stephens sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $57.91, for a total value of $868,650.00. Following the transaction, the chief accounting officer now owns 4,281 shares in the company, valued at $247,912.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Mark R. Witkowski sold 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The stock was 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 ninety days, insiders have sold 230,000 shares of company stock valued at $13,191,217. 3.49% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CNM. Quadrant Capital Group LLC boosted its holdings 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 acquiring an additional 365 shares in the last quarter. Lisanti Capital Growth LLC boosted its holdings in Core & Main by 0.3% in the first quarter. Lisanti Capital Growth LLC now owns 157,865 shares of the company’s stock valued at $9,038,000 after acquiring an additional 395 shares in the last quarter. Rise Advisors LLC bought a new stake in Core & Main in the first quarter valued at $27,000. Sheaff Brock Investment Advisors LLC boosted its holdings in Core & Main by 7.1% in the first quarter. Sheaff Brock Investment Advisors LLC now owns 7,229 shares of the company’s stock valued at $414,000 after acquiring an additional 481 shares in the last quarter. Finally, Isthmus Partners LLC boosted its holdings in Core & Main by 0.7% in the first quarter. Isthmus Partners LLC now owns 97,637 shares of the company’s stock valued at $5,590,000 after acquiring an additional 660 shares in the last quarter. Institutional investors own 94.19% of the company’s stock.

Core & Main Company Profile

(Get Free Report

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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