Brokerages Set Core & Main, Inc. (NYSE:CNM) PT at $57.30

Shares of Core & Main, Inc. (NYSE:CNM) have been given an average rating of “Moderate Buy” by the ten brokerages that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $57.30.

Several research analysts have issued reports on the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $62.00 price target (up previously from $53.00) on shares of Core & Main in a report on Wednesday, December 4th. The Goldman Sachs Group lifted their price objective on shares of Core & Main from $50.00 to $57.00 and gave the company a “neutral” rating in a report on Thursday, December 5th. Barclays lifted their price target on Core & Main from $57.00 to $65.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Citigroup raised their target price on Core & Main from $43.00 to $56.00 and gave the company a “neutral” rating in a report on Monday, January 6th. Finally, 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.

Insider Activity

In related news, CEO Stephen O. Leclair sold 200,000 shares of the company’s 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 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 position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Jeffrey D. Giles sold 25,000 shares of Core & Main stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $54.71, for a total value of $1,367,750.00. Following the completion of the transaction, the executive vice president now directly owns 11,615 shares of the company’s stock, valued at approximately $635,456.65. This represents a 68.28 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 427,426 shares of company stock valued at $22,923,825. Insiders own 3.49% of the company’s stock.

Institutional Investors Weigh In On Core & Main

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC purchased a new position in shares of Core & Main during the third quarter valued at approximately $26,000. ORG Wealth Partners LLC bought a new stake in Core & Main during the 3rd quarter valued at $31,000. Avior Wealth Management LLC grew its stake in Core & Main by 51.3% in the fourth quarter. Avior Wealth Management LLC now owns 799 shares of the company’s stock valued at $41,000 after purchasing an additional 271 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Core & Main during the 3rd quarter worth approximately $49,000. Finally, UMB Bank n.a. increased its holdings in shares of Core & Main by 246.0% during the fourth quarter. UMB Bank n.a. now owns 962 shares of the company’s stock valued at $49,000 after acquiring an additional 684 shares in the last quarter. 94.19% of the stock is owned by hedge funds and other institutional investors.

Core & Main Stock Up 0.6 %

NYSE CNM opened at $55.21 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. The stock has a market capitalization of $10.97 billion, a PE ratio of 25.92, a PEG ratio of 2.79 and a beta of 1.02. Core & Main has a fifty-two week low of $37.22 and a fifty-two week high of $62.15. The business has a fifty day moving average price of $50.22 and a two-hundred day moving average price of $48.01.

Core & Main (NYSE:CNM) last released its quarterly earnings results 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 return on equity of 24.71% and a net margin of 5.71%. The business’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.65 earnings per share. Equities analysts expect that Core & Main will post 2.16 earnings per share for the current fiscal year.

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.