Core & Main (NYSE:CNM) Rating Reiterated by Royal Bank of Canada

Core & Main (NYSE:CNMGet Free Report)‘s stock had its “outperform” rating reaffirmed by analysts at Royal Bank of Canada in a research report issued to clients and investors on Wednesday, Benzinga reports. They currently have a $60.00 price target on the stock. Royal Bank of Canada’s price target indicates a potential upside of 26.64% from the stock’s current price.

CNM has been the subject of a number of other research reports. Citigroup lowered Core & Main from a “buy” rating to a “neutral” rating and increased their price target for the stock from $63.00 to $64.00 in a research note on Friday, April 5th. Truist Financial cut their price objective on Core & Main from $56.00 to $50.00 and set a “hold” rating for the company in a research report on Wednesday. The Goldman Sachs Group raised their price objective on Core & Main from $42.00 to $61.00 and gave the company a “neutral” rating in a research report on Tuesday, March 26th. Loop Capital raised their price objective on Core & Main from $58.00 to $64.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Finally, JPMorgan Chase & Co. raised their price objective on Core & Main from $38.00 to $54.00 and gave the company an “overweight” rating in a research report on Tuesday, March 19th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $51.08.

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Core & Main Trading Down 4.5 %

Shares of CNM stock opened at $47.38 on Wednesday. Core & Main has a 52-week low of $27.06 and a 52-week high of $62.15. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.30 and a current ratio of 2.14. The firm has a market capitalization of $9.54 billion, a PE ratio of 22.14, a PEG ratio of 1.50 and a beta of 1.12. The stock has a fifty day simple moving average of $57.41 and a two-hundred day simple moving average of $48.01.

Core & Main (NYSE:CNMGet Free Report) last issued 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). Core & Main had a return on equity of 20.01% and a net margin of 5.53%. The business had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.72 billion. During the same quarter in the previous year, the company posted $0.50 EPS. The company’s quarterly revenue was up 10.6% on a year-over-year basis. On average, analysts predict that Core & Main will post 2.57 EPS for the current fiscal year.

Insider Activity at Core & Main

In related news, CAO John Weldon Stephens sold 15,000 shares of the stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $57.91, for a total value of $868,650.00. Following the completion of the transaction, the chief accounting officer now owns 4,281 shares of the company’s stock, valued at approximately $247,912.71. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Core & Main news, CAO John Weldon Stephens sold 15,000 shares of the firm’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $57.91, for a total value of $868,650.00. Following the completion of the sale, the chief accounting officer now owns 4,281 shares of the company’s stock, valued at $247,912.71. The sale was disclosed in a legal filing with the SEC, 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 dated 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 sale, the chief financial officer now directly owns 23,898 shares of the company’s stock, valued at approximately $1,421,931. The disclosure for this sale can be found here. In the last quarter, insiders sold 230,000 shares of company stock valued at $13,191,217. Insiders own 3.49% of the company’s stock.

Institutional Trading of Core & Main

Several institutional investors have recently added to or reduced their stakes in CNM. Rise Advisors LLC purchased a new position in shares of Core & Main during the first quarter worth approximately $27,000. Mitsubishi UFJ Trust & Banking Corp purchased a new position in shares of Core & Main during the third quarter worth approximately $28,000. Quadrant Capital Group LLC increased its position in shares of Core & Main by 74.5% during the fourth quarter. Quadrant Capital Group LLC now owns 855 shares of the company’s stock worth $35,000 after acquiring an additional 365 shares during the period. ORG Partners LLC purchased a new position in shares of Core & Main during the first quarter worth approximately $38,000. Finally, Kepos Capital LP purchased a new position in shares of Core & Main during the third quarter worth approximately $41,000. Institutional investors own 94.19% 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 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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