Brokerages Set Core & Main, Inc. (NYSE:CNM) PT at $57.30

Core & Main, Inc. (NYSE:CNM) has been assigned an average rating of “Moderate Buy” from the ten brokerages that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $57.30.

Several analysts have recently commented on CNM shares. Wells Fargo & Company raised their price objective on shares of Core & Main from $52.00 to $62.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. The Goldman Sachs Group raised their target price on shares of Core & Main from $50.00 to $57.00 and gave the company a “neutral” rating in a report on Thursday, December 5th. Truist Financial boosted their target price on Core & Main from $38.00 to $56.00 and gave the company a “hold” rating in a research report on Wednesday, December 4th. Royal Bank of Canada reissued an “outperform” rating and set a $62.00 price target (up from $53.00) on shares of Core & Main in a research note on Wednesday, December 4th. Finally, Robert W. Baird raised their price objective on Core & Main from $60.00 to $66.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th.

Insider Activity at Core & Main

In related news, Director Margaret Newman sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was 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 in the company, valued at $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 through the SEC website. Also, CEO Stephen O. Leclair sold 200,000 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $54.88, for a total transaction of $10,976,000.00. Following the completion of the sale, the chief executive officer now directly owns 92,349 shares in the company, valued at approximately $5,068,113.12. The trade was a 68.41 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 427,426 shares of company stock valued at $22,923,825. 3.49% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Avior Wealth Management LLC increased 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 in the last quarter. Clear Harbor Asset Management LLC lifted its stake in Core & Main by 0.8% in the 4th quarter. Clear Harbor Asset Management LLC now owns 235,911 shares of the company’s stock valued at $12,010,000 after purchasing an additional 1,971 shares during the last quarter. Perpetual Ltd lifted its stake in Core & Main by 42.7% in the 4th quarter. Perpetual Ltd now owns 199,061 shares of the company’s stock valued at $10,134,000 after purchasing an additional 59,575 shares during the last quarter. UMB Bank n.a. increased its position in Core & Main by 246.0% during the fourth quarter. UMB Bank n.a. now owns 962 shares of the company’s stock worth $49,000 after buying an additional 684 shares during the last quarter. Finally, Avanza Fonder AB bought a new position in shares of Core & Main during the 4th quarter worth approximately $97,000. Institutional investors and hedge funds own 94.19% of the company’s stock.

Core & Main Stock Performance

Core & Main stock opened at $55.21 on Friday. Core & Main has a twelve month low of $37.22 and a twelve month high of $62.15. The company has a quick ratio of 1.28, a current ratio of 2.14 and a debt-to-equity ratio of 1.36. The company has a market capitalization of $10.97 billion, a P/E ratio of 25.92, a PEG ratio of 2.79 and a beta of 1.02. The stock’s 50 day moving average is $50.22 and its 200 day moving average is $48.01.

Core & Main (NYSE:CNM) last announced its quarterly earnings data on Tuesday, December 3rd. The company reported $0.69 earnings per share 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 company had revenue of $2.04 billion during the quarter, compared to analyst estimates of $1.99 billion. During the same period in the previous year, the business earned $0.65 EPS. The firm’s revenue for the quarter was up 11.5% on a year-over-year basis. On average, equities research analysts predict that Core & Main will post 2.16 earnings per share for the current fiscal year.

Core & Main Company Profile

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.