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

Shares of Core & Main, Inc. (NYSE:CNM) have been given a consensus rating of “Moderate Buy” by the ten analysts that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $57.60.

A number of equities analysts recently weighed in on CNM shares. Truist Financial boosted their target price on shares of Core & Main from $38.00 to $56.00 and gave the stock a “hold” rating in a report on Wednesday, December 4th. Robert W. Baird boosted their target price on shares of Core & Main from $60.00 to $66.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Barclays boosted their target price on shares of Core & Main from $57.00 to $65.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Wells Fargo & Company lifted their price objective on shares of Core & Main from $62.00 to $65.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 4th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $62.00 price objective (up from $53.00) on shares of Core & Main in a research report on Wednesday, December 4th.

Core & Main Stock Performance

Shares of CNM stock opened at $54.60 on Wednesday. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.28 and a current ratio of 2.14. The company has a market capitalization of $10.85 billion, a P/E ratio of 25.63, a price-to-earnings-growth ratio of 2.75 and a beta of 1.03. The company’s 50 day moving average price is $53.45 and its two-hundred day moving average price is $48.62. Core & Main has a 52 week low of $37.22 and a 52 week high of $62.15.

Core & Main (NYSE:CNM) last posted its quarterly earnings data on Tuesday, December 3rd. The company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.04. Core & Main had a net margin of 5.71% and a return on equity of 24.71%. The company had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $1.99 billion. During the same period last year, the company earned $0.65 earnings per share. The firm’s revenue was up 11.5% compared to the same quarter last year. On average, analysts expect that Core & Main will post 2.16 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Core & Main news, CEO Stephen O. Leclair sold 200,000 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 92,349 shares in the company, valued at $5,068,113.12. This trade represents a 68.41 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Mark G. Whittenburg sold 1,974 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $55.29, for a total value of $109,142.46. Following the completion of the transaction, the general counsel now owns 7,667 shares of the company’s stock, valued at approximately $423,908.43. This represents a 20.48 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 452,426 shares of company stock valued at $24,285,825. 3.49% of the stock is owned by insiders.

Institutional Trading of Core & Main

A number of large investors have recently modified their holdings of CNM. Raymond James Financial Inc. bought a new stake in shares of Core & Main during the 4th quarter valued at about $115,555,000. PointState Capital LP bought a new stake in shares of Core & Main during the 3rd quarter valued at about $100,013,000. Norges Bank bought a new stake in shares of Core & Main during the 4th quarter valued at about $99,734,000. FMR LLC boosted its position in shares of Core & Main by 28.0% during the 3rd quarter. FMR LLC now owns 8,697,084 shares of the company’s stock valued at $386,151,000 after acquiring an additional 1,903,280 shares during the last quarter. Finally, Impax Asset Management Group plc boosted its position in shares of Core & Main by 373.0% during the 3rd quarter. Impax Asset Management Group plc now owns 2,013,880 shares of the company’s stock valued at $89,416,000 after acquiring an additional 1,588,117 shares during the last quarter. Institutional investors own 94.19% of the company’s stock.

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.