Core & Main, Inc. (NYSE:CNM) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Core & Main, Inc. (NYSE:CNM) have been assigned an average rating of “Moderate Buy” from the eight research firms that are covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $52.90.

A number of equities research analysts recently weighed in on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $60.00 price target on shares of Core & Main in a research report on Wednesday, June 5th. The Goldman Sachs Group boosted their target price on Core & Main from $42.00 to $61.00 and gave the company a “neutral” rating in a report on Tuesday, March 26th. JPMorgan Chase & Co. upped their target price on Core & Main from $38.00 to $54.00 and gave the company an “overweight” rating in a research report on Tuesday, March 19th. Citigroup downgraded Core & Main from a “buy” rating to a “neutral” rating and raised their price target for the stock from $63.00 to $64.00 in a research note on Friday, April 5th. Finally, Barclays boosted their price objective on Core & Main from $49.00 to $65.00 and gave the company an “overweight” rating in a research note on Wednesday, March 20th.

Core & Main Trading Down 1.1 %

CNM opened at $48.41 on Tuesday. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.23 and a current ratio of 2.14. Core & Main has a one year low of $27.75 and a one year high of $62.15. The company has a market cap of $9.75 billion, a P/E ratio of 22.62, a PEG ratio of 1.85 and a beta of 1.06. The business’s 50-day simple moving average is $55.04 and its 200-day simple moving average is $49.82.

Core & Main (NYSE:CNM) 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 business had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.72 billion. Core & Main had a net margin of 5.53% and a return on equity of 20.01%. The business’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period last year, the company earned $0.50 earnings per share. As a group, equities research analysts expect that Core & Main will post 2.32 EPS for the current fiscal year.

Insider Activity

In other Core & Main news, CFO Mark R. Witkowski sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $58.51, for a total transaction of $2,925,500.00. Following the transaction, the chief financial officer now owns 23,898 shares in the company, valued at approximately $1,398,271.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Core & Main news, CFO Mark R. Witkowski sold 50,000 shares of Core & Main stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $58.51, for a total transaction of $2,925,500.00. Following the completion of the transaction, the chief financial officer now owns 23,898 shares in the company, valued at $1,398,271.98. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO John Weldon Stephens sold 5,503 shares of the stock in a transaction that occurred on Friday, April 19th. The shares were sold at an average price of $54.23, for a total transaction of $298,427.69. Following the completion of the sale, the chief accounting officer now owns 4,281 shares in the company, valued at $232,158.63. The disclosure for this sale can be found here. Insiders have sold a total of 165,000 shares of company stock valued at $9,427,067 over the last quarter. Corporate insiders own 3.49% of the company’s stock.

Hedge Funds Weigh In On Core & Main

Several hedge funds have recently bought and sold shares of CNM. Rise Advisors LLC purchased a new position in shares of Core & Main during the first quarter valued at approximately $27,000. ORG Partners LLC purchased a new position in shares of Core & Main during the 1st quarter worth $38,000. Quadrant Capital Group LLC boosted its holdings 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 purchasing an additional 365 shares during the last quarter. GAMMA Investing LLC purchased a new stake in shares of Core & Main in the fourth quarter valued at $41,000. Finally, Principal Securities Inc. purchased a new stake in shares of Core & Main in the fourth quarter valued at $43,000. Hedge funds and other institutional investors own 94.19% of the company’s stock.

About Core & Main

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.