Core & Main, Inc. (NYSE:CNM) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Core & Main, Inc. (NYSE:CNM) have been given an average recommendation of “Moderate Buy” by the twelve ratings firms that are presently covering the firm, Marketbeat reports. Five research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $57.7273.

CNM has been the topic of several recent analyst reports. Citigroup dropped their price objective on Core & Main from $54.00 to $53.00 and set a “neutral” rating on the stock in a research note on Thursday, June 11th. The Goldman Sachs Group restated a “neutral” rating and set a $24.00 price objective on shares of Core & Main in a research note on Thursday, June 11th. Barclays dropped their price objective on Core & Main from $63.00 to $62.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 25th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on Core & Main from $65.00 to $62.00 and set a “buy” rating on the stock in a research note on Wednesday, March 25th.

Insider Buying and Selling at Core & Main

In other news, CFO Robyn L. Bradbury sold 5,000 shares of the firm’s stock in a transaction on Friday, April 17th. The stock was sold at an average price of $52.54, for a total transaction of $262,700.00. Following the completion of the sale, the chief financial officer directly owned 12,500 shares of the company’s stock, valued at $656,750. This trade represents a 28.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director James D. Hope bought 1,972 shares of the firm’s stock in a transaction dated Tuesday, April 7th. The shares were acquired at an average cost of $50.70 per share, with a total value of $99,980.40. Following the completion of the transaction, the director owned 6,939 shares in the company, valued at approximately $351,807.30. The trade was a 39.70% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Company insiders own 1.51% of the company’s stock.

Institutional Investors Weigh In On Core & Main

Large investors have recently made changes to their positions in the business. EverSource Wealth Advisors LLC increased its position in shares of Core & Main by 145.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 454 shares of the company’s stock valued at $27,000 after purchasing an additional 269 shares during the last quarter. TD Waterhouse Canada Inc. purchased a new stake in Core & Main in the 4th quarter worth about $26,000. Whittier Trust Co. purchased a new stake in Core & Main in the 4th quarter worth about $28,000. Cubist Systematic Strategies LLC increased its holdings in Core & Main by 262.0% in the 1st quarter. Cubist Systematic Strategies LLC now owns 724 shares of the company’s stock worth $35,000 after acquiring an additional 524 shares during the last quarter. Finally, Quarry LP purchased a new stake in Core & Main in the 4th quarter worth about $38,000. 94.19% of the stock is owned by hedge funds and other institutional investors.

Core & Main Price Performance

Shares of CNM opened at $48.98 on Friday. Core & Main has a 12-month low of $43.96 and a 12-month high of $67.18. The business’s fifty day moving average is $48.96 and its 200 day moving average is $52.03. The company has a quick ratio of 1.31, a current ratio of 2.31 and a debt-to-equity ratio of 1.00. The stock has a market cap of $9.48 billion, a P/E ratio of 20.76, a P/E/G ratio of 1.67 and a beta of 0.91.

Core & Main (NYSE:CNM) last issued its earnings results on Wednesday, June 10th. The company reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.19. Core & Main had a return on equity of 26.17% and a net margin of 5.87%.The company had revenue of $1.91 billion for the quarter, compared to analysts’ expectations of $1.89 billion. During the same period last year, the business earned $0.52 EPS. Core & Main’s quarterly revenue was down .1% compared to the same quarter last year. Sell-side analysts anticipate that Core & Main will post 3.06 earnings per share for the current fiscal year.

Core & Main Company Profile

Core & Main, Inc (NYSE:CNM) is a leading distributor of water, sewer, storm drainage and fire protection products across North America. The company’s product portfolio includes valves, hydrants, pipe and fittings, meters, couplings and other essential components that support municipal, industrial and environmental infrastructure projects. By combining a comprehensive inventory with logistics and technical support, Core & Main helps customers address complex water system and distribution challenges.

With more than 300 branch locations and over 3,500 employees, Core & Main serves a diverse customer base that includes municipalities, contractors, engineers and utility providers.