Core & Main (NYSE:CNM) Price Target Raised to $56.00 at Citigroup

Core & Main (NYSE:CNM) had its price target hoisted by Citigroup from $43.00 to $56.00 in a research report report published on Monday,Benzinga reports. Citigroup currently has a neutral rating on the stock.

Several other analysts have also weighed in on CNM. Loop Capital upped their target price on Core & Main from $52.00 to $63.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Barclays raised their target price on shares of Core & Main from $57.00 to $65.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Wells Fargo & Company upped their price target on shares of Core & Main from $52.00 to $62.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. The Goldman Sachs Group raised their price objective on shares of Core & Main from $50.00 to $57.00 and gave the stock a “neutral” rating in a research note on Thursday, December 5th. Finally, Robert W. Baird upped their target price on Core & Main from $60.00 to $66.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Core & Main has a consensus rating of “Moderate Buy” and an average price target of $57.30.

Core & Main Stock Performance

NYSE:CNM opened at $51.42 on Monday. The company has a quick ratio of 1.28, a current ratio of 2.14 and a debt-to-equity ratio of 1.36. Core & Main has a fifty-two week low of $37.22 and a fifty-two week high of $62.15. The firm’s fifty day simple moving average is $48.56 and its 200-day simple moving average is $47.75. The stock has a market cap of $10.22 billion, a PE ratio of 24.14, a price-to-earnings-growth ratio of 2.95 and a beta of 1.02.

Core & Main (NYSE:CNM) last issued its earnings results on Tuesday, December 3rd. The company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.04. The company had revenue of $2.04 billion during the quarter, compared to analysts’ expectations of $1.99 billion. Core & Main had a net margin of 5.71% and a return on equity of 24.71%. The firm’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same period last year, the company posted $0.65 earnings per share. Analysts expect that Core & Main will post 2.16 earnings per share for the current fiscal year.

Insider Activity at Core & Main

In related news, Director Margaret Newman sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $55.25, for a total transaction of $828,750.00. Following the completion of the transaction, the director now owns 11,769 shares of the company’s stock, valued at approximately $650,237.25. This represents a 56.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Jeffrey D. Giles sold 25,000 shares of Core & Main stock in a transaction 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 completion of the transaction, the executive vice president now owns 11,615 shares in the company, valued at approximately $635,456.65. This trade represents a 68.28 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 290,000 shares of company stock worth $15,926,000. 3.49% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Core & Main

A number of large investors have recently modified their holdings of CNM. Eagle Asset Management Inc. increased its position in Core & Main by 2.6% during the 3rd quarter. Eagle Asset Management Inc. now owns 1,720,496 shares of the company’s stock worth $74,979,000 after purchasing an additional 44,282 shares in the last quarter. Quest Partners LLC raised its stake in shares of Core & Main by 1,195,600.0% in the 3rd quarter. Quest Partners LLC now owns 11,957 shares of the company’s stock valued at $531,000 after acquiring an additional 11,956 shares during the period. B. Riley Wealth Advisors Inc. acquired a new position in shares of Core & Main during the 3rd quarter valued at $774,000. South Street Advisors LLC purchased a new stake in Core & Main during the 2nd quarter worth $8,427,000. Finally, Douglass Winthrop Advisors LLC increased its holdings in Core & Main by 23.3% in the 3rd quarter. Douglass Winthrop Advisors LLC now owns 70,272 shares of the company’s stock valued at $3,120,000 after purchasing an additional 13,263 shares in the last quarter. 94.19% of the stock is currently owned by hedge funds and other 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.