Brokerages Set Core & Main, Inc. (NYSE:CNM) Target Price at $50.08

Core & Main, Inc. (NYSE:CNMGet Free Report) has received a consensus rating of “Moderate Buy” from the nine research firms that are covering the company, MarketBeat.com reports. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $50.08.

Several research analysts recently commented on the company. Citigroup cut Core & Main from a “buy” rating to a “neutral” rating and increased their price target for the company from $63.00 to $64.00 in a research report on Friday, April 5th. Royal Bank of Canada increased their price objective on Core & Main from $59.00 to $60.00 and gave the company an “outperform” rating in a report on Wednesday, March 20th. Truist Financial restated a “hold” rating and set a $38.00 target price on shares of Core & Main in a report on Wednesday, March 20th. The Goldman Sachs Group increased their price target 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. Finally, Barclays boosted their price objective on shares of Core & Main from $49.00 to $65.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 20th.

Check Out Our Latest Stock Analysis on Core & Main

Core & Main Stock Down 0.8 %

Core & Main stock opened at $54.17 on Thursday. The company has a 50 day moving average of $51.94 and a 200-day moving average of $41.81. The stock has a market capitalization of $10.91 billion, a PE ratio of 25.20, a price-to-earnings-growth ratio of 1.69 and a beta of 1.15. The company has a quick ratio of 1.30, a current ratio of 2.29 and a debt-to-equity ratio of 1.22. Core & Main has a twelve month low of $25.08 and a twelve month high of $60.83.

Core & Main (NYSE:CNMGet Free Report) last posted its quarterly earnings data on Tuesday, March 19th. The company reported $0.34 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.34. Core & Main had a net margin of 5.54% and a return on equity of 18.22%. The company had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.43 billion. During the same period last year, the company earned $0.31 earnings per share. The firm’s revenue was up 4.8% compared to the same quarter last year. On average, equities research analysts anticipate that Core & Main will post 2.59 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, VP John Weldon Stephens sold 1,100 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $50.02, for a total transaction of $55,022.00. Following the completion of the sale, the vice president now owns 3,468 shares of the company’s stock, valued at approximately $173,469.36. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Core & Main news, VP John Weldon Stephens sold 1,100 shares of Core & Main stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $50.02, for a total value of $55,022.00. Following the transaction, the vice president now owns 3,468 shares in the company, valued at $173,469.36. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Stephen O. Leclair sold 150,000 shares of the stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $44.14, for a total transaction of $6,621,000.00. Following the completion of the transaction, the chief executive officer now directly owns 73,692 shares of the company’s stock, valued at approximately $3,252,764.88. The disclosure for this sale can be found here. Insiders sold 23,363,315 shares of company stock worth $960,746,759 in the last quarter. 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 the company. Vanguard Group Inc. lifted its holdings in Core & Main by 41.4% during the 4th quarter. Vanguard Group Inc. now owns 13,417,484 shares of the company’s stock worth $542,201,000 after buying an additional 3,926,588 shares during the period. FMR LLC lifted its stake in shares of Core & Main by 51.1% in the third quarter. FMR LLC now owns 7,865,719 shares of the company’s stock worth $226,926,000 after acquiring an additional 2,660,097 shares during the period. Norges Bank bought a new stake in Core & Main in the fourth quarter valued at approximately $108,023,000. Amundi increased its position in Core & Main by 34.2% during the 4th quarter. Amundi now owns 4,675,562 shares of the company’s stock valued at $91,317,000 after purchasing an additional 1,192,629 shares during the period. Finally, Morgan Stanley raised its holdings in Core & Main by 23.0% during the 3rd quarter. Morgan Stanley now owns 4,219,363 shares of the company’s stock worth $121,729,000 after purchasing an additional 788,801 shares during the last quarter. Institutional investors and hedge funds own 94.19% of the company’s stock.

About Core & Main

(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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