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

Shares of Core & Main, Inc. (NYSE:CNM) have been given an average recommendation of “Moderate Buy” by the ten brokerages that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and six have issued a buy recommendation on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $57.60.

CNM has been the subject of a number of analyst reports. The Goldman Sachs Group raised their price objective on shares of Core & Main from $50.00 to $57.00 and gave the company a “neutral” rating in a research note on Thursday, December 5th. Robert W. Baird lifted their target price on shares of Core & Main from $60.00 to $66.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Loop Capital lifted their target price on shares of Core & Main from $52.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Barclays lifted their target price on shares of Core & Main from $57.00 to $65.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Finally, Truist Financial lifted their target price on Core & Main from $38.00 to $56.00 and gave the stock a “hold” rating in a report on Wednesday, December 4th.

Core & Main Price Performance

CNM stock opened at $54.85 on Wednesday. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.28 and a current ratio of 2.14. The firm has a 50 day moving average price of $53.43 and a 200-day moving average price of $48.54. Core & Main has a 52-week low of $37.22 and a 52-week high of $62.15. The firm has a market capitalization of $10.90 billion, a price-to-earnings ratio of 25.75, a PEG ratio of 2.75 and a beta of 1.03.

Core & Main (NYSE:CNM) last released its earnings results on Tuesday, December 3rd. The company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.65 by $0.04. Core & Main had a return on equity of 24.71% and a net margin of 5.71%. The business had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $1.99 billion. During the same period in the previous year, the company posted $0.65 earnings per share. The company’s revenue for the quarter was up 11.5% compared to the same quarter last year. Equities research analysts forecast that Core & Main will post 2.16 EPS for the current fiscal year.

Insider Activity

In other news, EVP Jeffrey D. Giles sold 25,000 shares of the firm’s 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 sale, the executive vice president now directly owns 11,615 shares in the company, valued at $635,456.65. This trade represents a 68.28 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Stephen O. Leclair sold 200,000 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $54.88, for a total transaction of $10,976,000.00. Following the sale, the chief executive officer now owns 92,349 shares in the company, valued at $5,068,113.12. The trade was a 68.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 427,426 shares of company stock valued at $22,923,825 in the last quarter. 3.49% of the stock is currently owned by insiders.

Institutional Trading of Core & Main

Several institutional investors have recently made changes to their positions in the business. US Bancorp DE grew its position in shares of Core & Main by 12.3% during the fourth quarter. US Bancorp DE now owns 1,795 shares of the company’s stock worth $91,000 after purchasing an additional 197 shares in the last quarter. Fifth Third Wealth Advisors LLC boosted its position in shares of Core & Main by 4.8% during the fourth quarter. Fifth Third Wealth Advisors LLC now owns 5,616 shares of the company’s stock worth $286,000 after acquiring an additional 258 shares during the last quarter. Avior Wealth Management LLC boosted its position in shares of Core & Main by 51.3% during the fourth quarter. Avior Wealth Management LLC now owns 799 shares of the company’s stock worth $41,000 after acquiring an additional 271 shares during the last quarter. CIBC Asset Management Inc boosted its position in shares of Core & Main by 5.1% during the fourth quarter. CIBC Asset Management Inc now owns 5,871 shares of the company’s stock worth $299,000 after acquiring an additional 287 shares during the last quarter. Finally, Andina Capital Management LLC boosted its position in shares of Core & Main by 3.5% during the third quarter. Andina Capital Management LLC now owns 8,707 shares of the company’s stock worth $387,000 after acquiring an additional 294 shares during the last quarter. Hedge funds and other institutional investors own 94.19% of the company’s stock.

About Core & Main

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.