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

Core & Main, Inc. (NYSE:CNM) has received a consensus rating of “Moderate Buy” from the eight analysts that are covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $52.90.

A number of research analysts have recently commented on CNM shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $60.00 target price on shares of Core & Main in a research note on Wednesday, June 5th. Truist Financial reduced their target price on Core & Main from $56.00 to $50.00 and set a “hold” rating on the stock in a research note on Wednesday, June 5th.

Insider Buying and Selling at Core & Main

In related news, Director James G. Castellano sold 12,500 shares of the company’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $52.22, for a total value of $652,750.00. Following the completion of the sale, the director now directly owns 11,769 shares of the company’s stock, valued at $614,577.18. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 3.49% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Core & Main

A number of large investors have recently bought and sold shares of the business. Rise Advisors LLC bought a new stake in Core & Main during the 1st quarter valued at $27,000. ORG Partners LLC bought a new stake in Core & Main during the first quarter valued at about $38,000. Quadrant Capital Group LLC boosted its position in Core & Main by 74.5% during the fourth quarter. Quadrant Capital Group LLC now owns 855 shares of the company’s stock valued at $35,000 after purchasing an additional 365 shares in the last quarter. GAMMA Investing LLC bought a new position in Core & Main in the fourth quarter worth about $41,000. Finally, Principal Securities Inc. purchased a new stake in shares of Core & Main during the fourth quarter valued at about $43,000. Institutional investors own 94.19% of the company’s stock.

Core & Main Stock Down 0.7 %

NYSE CNM opened at $50.55 on Wednesday. The company has a quick ratio of 1.23, a current ratio of 2.14 and a debt-to-equity ratio of 1.46. Core & Main has a 52 week low of $27.75 and a 52 week high of $62.15. The firm has a market capitalization of $10.18 billion, a price-to-earnings ratio of 23.62, a PEG ratio of 1.92 and a beta of 1.06. The company has a fifty day moving average of $50.44 and a two-hundred day moving average of $52.35.

Core & Main (NYSE:CNM) last released its quarterly earnings results 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 firm had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.72 billion. During the same period in the prior year, the firm posted $0.50 earnings per share. Core & Main’s revenue for the quarter was up 10.6% on a year-over-year basis. On average, analysts predict that Core & Main will post 2.32 earnings per share for the current year.

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.