Core & Main, Inc. (NYSE:CNM) Receives $57.55 Consensus PT from Analysts

Core & Main, Inc. (NYSE:CNM) has been given a consensus recommendation of “Moderate Buy” by the eleven ratings firms that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $57.55.

A number of research firms recently commented on CNM. Robert W. Baird decreased their price objective on Core & Main from $66.00 to $65.00 and set an “outperform” rating on the stock in a report on Wednesday, March 26th. Wells Fargo & Company lifted their target price on Core & Main from $62.00 to $65.00 and gave the company an “overweight” rating in a research report on Tuesday, February 4th. Deutsche Bank Aktiengesellschaft assumed coverage on Core & Main in a report on Tuesday, April 1st. They set a “buy” rating and a $60.00 price target for the company. Citigroup boosted their price objective on shares of Core & Main from $43.00 to $56.00 and gave the company a “neutral” rating in a report on Monday, January 6th. Finally, Royal Bank of Canada decreased their target price on shares of Core & Main from $62.00 to $60.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 26th.

Core & Main Stock Down 2.3 %

Shares of CNM opened at $46.12 on Thursday. Core & Main has a 52-week low of $37.22 and a 52-week high of $62.15. The company has a quick ratio of 1.28, a current ratio of 2.14 and a debt-to-equity ratio of 1.36. The stock has a fifty day simple moving average of $51.06 and a two-hundred day simple moving average of $49.15. The company has a market capitalization of $9.13 billion, a PE ratio of 21.65, a price-to-earnings-growth ratio of 2.61 and a beta of 1.05.

Core & Main (NYSE:CNM) last released its quarterly earnings data on Tuesday, March 25th. The company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.03). The firm had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.67 billion. Core & Main had a return on equity of 24.71% and a net margin of 5.71%. Core & Main’s revenue for the quarter was up 17.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.34 earnings per share. As a group, equities analysts forecast that Core & Main will post 2.16 EPS for the current year.

Insider Transactions at Core & Main

In other Core & Main news, President Bradford A. Cowles sold 12,500 shares of the stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $50.50, for a total transaction of $631,250.00. Following the sale, the president now directly owns 16,010 shares in the company, valued at $808,505. This represents a 43.84 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP John R. Schaller sold 60,452 shares of the business’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $50.57, for a total transaction of $3,057,057.64. Following the completion of the transaction, the executive vice president now owns 17,898 shares of the company’s stock, valued at approximately $905,101.86. This trade represents a 77.16 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 226,257 shares of company stock valued at $11,501,977. 3.49% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Core & Main

Several hedge funds and other institutional investors have recently made changes to their positions in CNM. Vanguard Group Inc. raised its holdings in Core & Main by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 18,219,997 shares of the company’s stock valued at $927,580,000 after acquiring an additional 221,970 shares in the last quarter. FMR LLC increased its position in shares of Core & Main by 4.1% in the 4th quarter. FMR LLC now owns 9,055,993 shares of the company’s stock valued at $461,041,000 after purchasing an additional 358,909 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Core & Main by 0.8% in the 4th quarter. Invesco Ltd. now owns 5,926,569 shares of the company’s stock valued at $301,722,000 after purchasing an additional 44,513 shares in the last quarter. State Street Corp lifted its position in shares of Core & Main by 9.7% during the 3rd quarter. State Street Corp now owns 5,522,009 shares of the company’s stock worth $245,177,000 after purchasing an additional 489,224 shares during the last quarter. Finally, Bessemer Group Inc. grew its stake in shares of Core & Main by 0.5% during the fourth quarter. Bessemer Group Inc. now owns 3,835,182 shares of the company’s stock worth $195,250,000 after purchasing an additional 20,756 shares in the last quarter. Hedge funds and other institutional investors own 94.19% of the company’s stock.

Core & Main Company Profile

Core & Main, Inc is a specialty distributor focused on water, wastewater, storm drainage and fire protection products, and related services. The company provides infrastructure solutions to municipalities, private water companies and professional contractors across municipal, non-residential, and residential end markets, nationwide.