Core & Main (NYSE:CNM) Shares Gap Up to $47.19

Core & Main, Inc. (NYSE:CNMGet Free Report)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $47.19, but opened at $49.95. Core & Main shares last traded at $51.13, with a volume of 958,129 shares traded.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on CNM shares. Barclays increased their price target on shares of Core & Main from $49.00 to $65.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 20th. Truist Financial decreased their price target on shares of Core & Main from $56.00 to $50.00 and set a “hold” rating for the company in a research note on Wednesday, June 5th. The Goldman Sachs Group increased their price target on shares of Core & Main from $42.00 to $61.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 26th. Loop Capital raised their target price on shares of Core & Main from $58.00 to $64.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. Finally, Citigroup cut shares of Core & Main from a “buy” rating to a “neutral” rating and raised their target price for the stock from $63.00 to $64.00 in a research note on Friday, April 5th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Core & Main currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.08.

Check Out Our Latest Analysis on CNM

Core & Main Price Performance

The stock’s fifty day moving average price is $56.82 and its 200-day moving average price is $48.48. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.23 and a current ratio of 2.14. The firm has a market cap of $10.21 billion, a PE ratio of 23.84, a P/E/G ratio of 1.71 and a beta of 1.12.

Core & Main (NYSE:CNMGet 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 company had revenue of $1.74 billion during the quarter, compared to analysts’ expectations 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 quarter in the prior year, the business earned $0.50 EPS. As a group, equities analysts forecast that Core & Main, Inc. will post 2.47 EPS for the current fiscal year.

Insider Buying and Selling at Core & Main

In other Core & Main news, CFO Mark R. Witkowski sold 50,000 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $59.50, for a total transaction of $2,975,000.00. Following the completion of the transaction, the chief financial officer now directly owns 23,898 shares in the company, valued at approximately $1,421,931. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Core & Main news, CFO Mark R. Witkowski sold 50,000 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $59.50, for a total transaction of $2,975,000.00. Following the completion of the transaction, the chief financial officer now directly owns 23,898 shares in the company, valued at approximately $1,421,931. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO John Weldon Stephens sold 5,503 shares of the firm’s stock in a transaction dated Friday, April 19th. The stock was sold at an average price of $54.23, for a total transaction of $298,427.69. Following the sale, the chief accounting officer now directly owns 4,281 shares in the company, valued at $232,158.63. The disclosure for this sale can be found here. In the last three months, insiders sold 230,000 shares of company stock worth $13,191,217. 3.49% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Core & Main

Several hedge funds have recently modified their holdings of CNM. Rise Advisors LLC acquired a new stake in shares of Core & Main in the first quarter worth approximately $27,000. ORG Partners LLC acquired a new stake in shares of Core & Main in the first quarter worth approximately $38,000. Quadrant Capital Group LLC boosted its position in shares of Core & Main by 74.5% in the fourth quarter. Quadrant Capital Group LLC now owns 855 shares of the company’s stock worth $35,000 after acquiring an additional 365 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp acquired a new stake in shares of Core & Main in the third quarter worth approximately $28,000. Finally, GAMMA Investing LLC acquired a new stake in shares of Core & Main in the fourth quarter worth approximately $41,000. 94.19% of the stock is owned by institutional investors and hedge funds.

Core & Main Company Profile

(Get Free Report)

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.

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