Core & Main, Inc. (NYSE:CNM) Receives $57.30 Consensus Price Target from Analysts

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

Several equities research analysts have recently weighed in on the company. Citigroup increased their price target on Core & Main from $43.00 to $56.00 and gave the company a “neutral” rating in a research note on Monday, January 6th. Wells Fargo & Company upped their target price on Core & Main from $52.00 to $62.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Loop Capital raised their price target 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. Robert W. Baird upped their price objective on shares of Core & Main from $60.00 to $66.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Finally, The Goldman Sachs Group increased their price objective on shares of Core & Main from $50.00 to $57.00 and gave the stock a “neutral” rating in a research report on Thursday, December 5th.

Core & Main Trading Up 0.7 %

CNM opened at $57.22 on Friday. The company has a debt-to-equity ratio of 1.36, a current ratio of 2.14 and a quick ratio of 1.28. Core & Main has a fifty-two week low of $37.22 and a fifty-two week high of $62.15. The company’s 50 day moving average price is $50.81 and its two-hundred day moving average price is $48.13. The firm has a market capitalization of $11.37 billion, a price-to-earnings ratio of 26.87, a PEG ratio of 3.05 and a beta of 1.02.

Core & Main (NYSE:CNM) last issued its quarterly earnings data on Tuesday, December 3rd. The company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.04. The company had revenue of $2.04 billion for 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%. Core & Main’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.65 earnings per share. As a group, research analysts predict that Core & Main will post 2.16 earnings per share for the current year.

Insider Activity at Core & Main

In related news, General Counsel Mark G. Whittenburg sold 1,974 shares of the business’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $55.29, for a total value of $109,142.46. Following the completion of the sale, the general counsel now directly owns 7,667 shares of the company’s stock, valued at $423,908.43. The trade was a 20.48 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Stephen O. Leclair sold 200,000 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $54.88, for a total value of $10,976,000.00. Following the completion of the transaction, the chief executive officer now 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. Insiders have sold 427,426 shares of company stock worth $22,923,825 in the last quarter. Company insiders own 3.49% of the company’s stock.

Institutional Trading of Core & Main

Hedge funds have recently bought and sold shares of the business. Ashton Thomas Securities LLC bought a new position in shares of Core & Main in the third quarter valued at $26,000. ORG Wealth Partners LLC acquired a new stake in shares of Core & Main in the 3rd quarter worth about $31,000. Avior Wealth Management LLC lifted its position in Core & Main by 51.3% in the 4th quarter. Avior Wealth Management LLC now owns 799 shares of the company’s stock valued at $41,000 after acquiring an additional 271 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Core & Main during the 3rd quarter valued at about $49,000. Finally, UMB Bank n.a. increased its holdings in Core & Main by 246.0% during the 4th quarter. UMB Bank n.a. now owns 962 shares of the company’s stock worth $49,000 after purchasing an additional 684 shares in the last quarter. Institutional investors and hedge funds own 94.19% of the company’s stock.

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.