Brokerages Set Core & Main, Inc. (NYSE:CNM) PT at $52.90

Shares of Core & Main, Inc. (NYSE:CNM) have earned an average rating of “Moderate Buy” from the eight brokerages that are currently covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $52.90.

CNM has been the subject of a number of recent research reports. Royal Bank of Canada restated an “outperform” rating and set a $60.00 price objective on shares of Core & Main in a research note on Wednesday, June 5th. Citigroup downgraded shares of Core & Main from a “buy” rating to a “neutral” rating and raised their target price for the company from $63.00 to $64.00 in a research note on Friday, April 5th. Barclays raised their target price on shares of Core & Main from $49.00 to $65.00 and gave the company an “overweight” rating in a research note on Wednesday, March 20th. Loop Capital raised their target price on shares of Core & Main from $58.00 to $64.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. Finally, Truist Financial cut their target price 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.

Core & Main Price Performance

CNM stock opened at $48.89 on Tuesday. The stock has a 50-day moving average price of $54.59 and a two-hundred day moving average price of $49.87. Core & Main has a 1 year low of $27.75 and a 1 year high of $62.15. The company has a current ratio of 2.14, a quick ratio of 1.23 and a debt-to-equity ratio of 1.46. The stock has a market cap of $9.85 billion, a PE ratio of 22.85, a price-to-earnings-growth ratio of 1.83 and a beta of 1.06.

Core & Main (NYSE:CNM) last posted its quarterly earnings data on Tuesday, June 4th. The company reported $0.49 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.02). Core & Main had a return on equity of 20.01% and a net margin of 5.53%. The business had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same quarter in the prior year, the company earned $0.50 earnings per share. The company’s quarterly revenue was up 10.6% on a year-over-year basis. Equities analysts forecast that Core & Main will post 2.32 EPS for the current fiscal year.

Insider Activity

In other news, CFO Mark R. Witkowski sold 50,000 shares of Core & Main stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $58.51, for a total value of $2,925,500.00. Following the completion of the sale, the chief financial officer now directly owns 23,898 shares in the company, valued at $1,398,271.98. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CFO Mark R. Witkowski sold 50,000 shares of Core & Main stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $58.51, for a total value of $2,925,500.00. Following the completion of the sale, the chief financial officer now directly owns 23,898 shares in the company, valued at $1,398,271.98. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO John Weldon Stephens sold 9,497 shares of Core & Main stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $55.19, for a total transaction of $524,139.43. Following the completion of the sale, the chief accounting officer now owns 4,281 shares of the company’s stock, valued at $236,268.39. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 165,000 shares of company stock worth $9,427,067. Corporate insiders own 3.49% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Treasurer of the State of North Carolina increased its holdings in shares of Core & Main by 27.8% during the third quarter. Treasurer of the State of North Carolina now owns 47,351 shares of the company’s stock worth $1,366,000 after buying an additional 10,310 shares in the last quarter. California State Teachers Retirement System increased its holdings in shares of Core & Main by 18.0% during the third quarter. California State Teachers Retirement System now owns 123,396 shares of the company’s stock worth $3,560,000 after buying an additional 18,820 shares in the last quarter. Gotham Asset Management LLC increased its holdings in shares of Core & Main by 269.5% during the third quarter. Gotham Asset Management LLC now owns 62,490 shares of the company’s stock worth $1,803,000 after buying an additional 45,578 shares in the last quarter. Schonfeld Strategic Advisors LLC increased its holdings in shares of Core & Main by 23.3% during the third quarter. Schonfeld Strategic Advisors LLC now owns 44,900 shares of the company’s stock worth $1,295,000 after buying an additional 8,481 shares in the last quarter. Finally, Lazard Asset Management LLC increased its holdings in shares of Core & Main by 897.1% during the third quarter. Lazard Asset Management LLC now owns 78,742 shares of the company’s stock worth $2,271,000 after buying an additional 70,845 shares in the last quarter. 94.19% of the stock is currently owned by institutional investors and hedge funds.

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.