Brokerages Set Core & Main, Inc. (NYSE:CNM) Target Price at $58.10

Shares of Core & Main, Inc. (NYSE:CNM) have been assigned an average rating of “Moderate Buy” from the ten brokerages that are currently covering the stock, MarketBeat reports. One equities research 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 objective among brokerages that have covered the stock in the last year is $58.10.

A number of analysts have issued reports on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $62.00 price target (up from $53.00) on shares of Core & Main in a research note on Wednesday, December 4th. JPMorgan Chase & Co. reduced their target price on shares of Core & Main from $54.00 to $52.00 and set an “overweight” rating on the stock in a report on Tuesday, September 3rd. Robert W. Baird raised their price target on shares of Core & Main from $60.00 to $66.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Barclays upped their price objective on Core & Main from $57.00 to $65.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Finally, Truist Financial lifted their target price on Core & Main from $38.00 to $56.00 and gave the company a “hold” rating in a report on Wednesday, December 4th.

Insider Buying and Selling at Core & Main

In related news, President Bradford A. Cowles sold 50,000 shares of the stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $55.07, for a total value of $2,753,500.00. Following the transaction, the president now directly owns 18,423 shares of the company’s stock, valued at $1,014,554.61. This trade represents a 73.07 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Stephen O. Leclair sold 200,000 shares of Core & Main stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $54.88, for a total transaction of $10,976,000.00. Following the sale, the chief executive officer now owns 92,349 shares in the company, valued at $5,068,113.12. This represents a 68.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 290,000 shares of company stock worth $15,926,000 over the last ninety days. Corporate insiders own 3.49% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp grew its position in Core & Main by 10.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,421,219 shares of the company’s stock worth $69,554,000 after purchasing an additional 136,189 shares during the last quarter. Principal Financial Group Inc. increased its position in Core & Main by 1.5% in the 2nd quarter. Principal Financial Group Inc. now owns 1,286,389 shares of the company’s stock valued at $62,956,000 after acquiring an additional 19,012 shares during the period. Peregrine Capital Management LLC raised its stake in Core & Main by 10.9% during the 2nd quarter. Peregrine Capital Management LLC now owns 215,590 shares of the company’s stock valued at $10,551,000 after acquiring an additional 21,246 shares during the last quarter. Crossmark Global Holdings Inc. raised its stake in Core & Main by 6.2% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 47,130 shares of the company’s stock valued at $2,306,000 after acquiring an additional 2,760 shares during the last quarter. Finally, Ritholtz Wealth Management lifted its position in Core & Main by 32.6% during the 2nd quarter. Ritholtz Wealth Management now owns 17,664 shares of the company’s stock worth $864,000 after acquiring an additional 4,340 shares during the period. Institutional investors and hedge funds own 94.19% of the company’s stock.

Core & Main Stock Up 0.3 %

Core & Main stock opened at $51.60 on Tuesday. The company has a market capitalization of $10.25 billion, a PE ratio of 24.23, a price-to-earnings-growth ratio of 2.95 and a beta of 1.04. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.28 and a current ratio of 2.14. Core & Main has a fifty-two week low of $37.22 and a fifty-two week high of $62.15. The firm has a 50 day moving average price of $47.78 and a 200 day moving average price of $47.74.

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, beating analysts’ consensus estimates of $0.65 by $0.04. Core & Main had a return on equity of 24.71% and a net margin of 5.71%. The business had revenue of $2.04 billion during the quarter, compared to analysts’ expectations of $1.99 billion. During the same period in the previous year, the firm posted $0.65 earnings per share. The company’s revenue was up 11.5% on a year-over-year basis. Research analysts expect that Core & Main will post 2.16 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.