The Goldman Sachs Group Raises Core & Main (NYSE:CNM) Price Target to $57.00

Core & Main (NYSE:CNM) had its price target hoisted by investment analysts at The Goldman Sachs Group from $50.00 to $57.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. The Goldman Sachs Group’s price target would indicate a potential upside of 5.79% from the company’s previous close.

A number of other research analysts also recently commented on CNM. Truist Financial increased their price target on Core & Main from $38.00 to $56.00 and gave the company a “hold” rating in a report on Wednesday. JPMorgan Chase & Co. reduced their target price on Core & Main from $54.00 to $52.00 and set an “overweight” rating for the company in a research note on Tuesday, September 3rd. Royal Bank of Canada restated an “outperform” rating and issued a $62.00 price target (up previously from $53.00) on shares of Core & Main in a research note on Wednesday. Barclays upped their price target on shares of Core & Main from $57.00 to $65.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, Wells Fargo & Company raised their price objective on shares of Core & Main from $52.00 to $62.00 and gave the stock an “overweight” rating in a report on Thursday. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $58.10.

Core & Main Stock Down 1.4 %

Shares of NYSE CNM opened at $53.88 on Thursday. The stock has a fifty day moving average price of $45.44 and a 200 day moving average price of $48.15. The company has a current ratio of 2.14, a quick ratio of 1.34 and a debt-to-equity ratio of 1.36. Core & Main has a 12-month low of $35.70 and a 12-month high of $62.15. The company has a market cap of $10.84 billion, a P/E ratio of 25.64, a P/E/G ratio of 3.63 and a beta of 1.04.

Core & Main (NYSE:CNM) last posted its earnings results on Tuesday, December 3rd. The company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.04. Core & Main had a net margin of 5.71% and a return on equity of 24.71%. The business had revenue of $2.04 billion for the quarter, compared to analysts’ expectations of $1.99 billion. During the same period in the previous year, the company posted $0.65 earnings per share. The business’s revenue for the quarter was up 11.5% compared to the same quarter last year. Research analysts anticipate that Core & Main will post 2.1 EPS for the current fiscal year.

Insider Buying and Selling at Core & Main

In other Core & Main news, Director Margaret Newman sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $55.25, for a total transaction of $828,750.00. Following the transaction, the director now owns 11,769 shares of the company’s stock, valued at approximately $650,237.25. This trade represents a 56.03 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jeffrey D. Giles sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $54.71, for a total transaction of $1,367,750.00. Following the transaction, the executive vice president now owns 11,615 shares in the company, valued at $635,456.65. This represents a 68.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 290,000 shares of company stock worth $15,926,000 over the last ninety days. Company insiders own 3.49% of the company’s stock.

Institutional Trading of Core & Main

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Ashton Thomas Securities LLC acquired a new stake in shares of Core & Main during the 3rd quarter valued at $26,000. ORG Wealth Partners LLC acquired a new stake in shares of Core & Main during the third quarter worth $31,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Core & Main during the third quarter valued at $49,000. GAMMA Investing LLC boosted its position in shares of Core & Main by 61.1% in the 3rd quarter. GAMMA Investing LLC now owns 1,348 shares of the company’s stock valued at $60,000 after purchasing an additional 511 shares during the period. Finally, Brown Brothers Harriman & Co. purchased a new position in Core & Main in the 2nd quarter worth about $76,000. 94.19% of the stock is currently owned by institutional investors.

Core & Main Company Profile

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.