Core & Main (NYSE:CNM) Coverage Initiated at Deutsche Bank Aktiengesellschaft

Research analysts at Deutsche Bank Aktiengesellschaft started coverage on shares of Core & Main (NYSE:CNM) in a report released on Tuesday,Briefing.com Automated Import reports. The firm set a “buy” rating and a $60.00 price target on the stock. Deutsche Bank Aktiengesellschaft’s target price would suggest a potential upside of 24.14% from the stock’s previous close.

CNM has been the topic of several other research reports. Royal Bank of Canada dropped their target price on shares of Core & Main from $62.00 to $60.00 and set an “outperform” rating on the stock in a report on Wednesday, March 26th. Loop Capital raised their price objective on shares of Core & Main from $52.00 to $63.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Truist Financial increased their price target on Core & Main from $38.00 to $56.00 and gave the stock a “hold” rating in a research note on Wednesday, December 4th. Robert W. Baird decreased their price target on Core & Main from $66.00 to $65.00 and set an “outperform” rating on the stock in a report on Wednesday, March 26th. Finally, Citigroup increased their target price on Core & Main from $43.00 to $56.00 and gave the stock a “neutral” rating in a research report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Core & Main has a consensus rating of “Moderate Buy” and a consensus target price of $57.55.

Core & Main Stock Down 0.3 %

Shares of NYSE:CNM opened at $48.33 on Tuesday. The company has a current ratio of 2.14, a quick ratio of 1.28 and a debt-to-equity ratio of 1.36. The stock’s 50-day moving average price is $51.73 and its 200-day moving average price is $49.01. The stock has a market capitalization of $9.60 billion, a P/E ratio of 22.69, a price-to-earnings-growth ratio of 2.61 and a beta of 1.05. Core & Main has a 12-month low of $37.22 and a 12-month high of $62.15.

Core & Main (NYSE:CNM) last issued its earnings results on Tuesday, March 25th. The company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.03). The firm had revenue of $1.70 billion during the quarter, compared to analysts’ expectations of $1.67 billion. Core & Main had a return on equity of 24.71% and a net margin of 5.71%. The firm’s quarterly revenue was up 17.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.34 earnings per share. On average, equities analysts anticipate that Core & Main will post 2.16 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP John R. Schaller sold 21,868 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $46.82, for a total transaction of $1,023,859.76. Following the completion of the transaction, the executive vice president now owns 16,452 shares in the company, valued at $770,282.64. The trade was a 57.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Mark G. Whittenburg sold 1,974 shares of the stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $55.29, for a total transaction of $109,142.46. Following the sale, the general counsel now directly owns 7,667 shares of the company’s stock, valued at $423,908.43. The trade was a 20.48 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 184,294 shares of company stock worth $9,383,685. 3.49% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Core & Main

Several hedge funds have recently modified their holdings of CNM. Charles Schwab Investment Management Inc. lifted its stake in shares of Core & Main by 7.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,666,765 shares of the company’s stock worth $84,855,000 after buying an additional 122,240 shares during the period. Impax Asset Management Group plc boosted its stake in shares of Core & Main by 70.4% in the fourth quarter. Impax Asset Management Group plc now owns 3,430,787 shares of the company’s stock worth $174,661,000 after buying an additional 1,416,907 shares during the last quarter. B. Riley Wealth Advisors Inc. acquired a new stake in Core & Main in the 3rd quarter valued at $774,000. Asset Management One Co. Ltd. raised its position in shares of Core & Main by 13.1% during the 4th quarter. Asset Management One Co. Ltd. now owns 65,284 shares of the company’s stock worth $3,331,000 after purchasing an additional 7,565 shares during the last quarter. Finally, Truist Financial Corp raised its holdings in shares of Core & Main by 3.2% during the fourth quarter. Truist Financial Corp now owns 581,845 shares of the company’s stock valued at $29,622,000 after acquiring an additional 17,899 shares during the last quarter. Institutional investors and hedge funds own 94.19% of the company’s stock.

About Core & Main

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.