Shares of Core & Main, Inc. (NYSE:CNM – Get Free Report) 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.
Read Our Latest Stock Analysis on CNM
Core & Main Trading Down 1.1 %
Core & Main (NYSE:CNM – Get Free Report) 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.
See Also
- Five stocks we like better than Core & Main
- Why Special Dividends Can be a Delightful Surprise for Income Investors
- These Top 3 Banks Raise Dividends After Passing Fed Stress Test
- What to Know About Investing in Penny Stocks
- Hitch a Ride with Lyft Stock for Double-Digit Gains in 2nd Half
- The How and Why of Investing in Gold Stocks
- Eli Lilly Stock Up: GLP-1 Zepbound Targets Sleep Apnea Market
Receive News & Ratings for Core & Main Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Core & Main and related companies with MarketBeat.com's FREE daily email newsletter.