Core & Main, Inc. (NYSE:CNM) Receives Consensus Rating of “Hold” from Analysts – Defense World

Shares of Core & Main, Inc. (NYSE:CNM – Get Rating) have earned a consensus recommendation of “Hold” from the twelve brokerages that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $31.00.

A number of equities analysts recently weighed in on the stock. Royal Bank of Canada reduced their target price on shares of Core & Main from $33.00 to $31.00 and set an “outperform” rating for the company in a research note on Thursday, March 31st. Truist Financial decreased their price objective on Core & Main from $32.00 to $28.00 and set a “hold” rating for the company in a report on Thursday, March 31st. Bank of America cut Core & Main from a “neutral” rating to an “underperform” rating and cut their target price for the company from $31.00 to $25.00 in a research note on Thursday, February 17th. Finally, Barclays upgraded shares of Core & Main from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $32.00 to $34.00 in a report on Thursday, March 31st.

In other Core & Main news, VP Jeffrey D. Giles sold 30,000 shares of the company’s stock in a transaction on Friday, May 27th. The shares were sold at an average price of $25.04, for a total value of $751,200.00. Following the transaction, the vice president now directly owns 4,146 shares in the company, valued at $103,815.84. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Jeffrey D. Giles sold 2,600 shares of the stock in a transaction dated Monday, May 16th. The shares were sold at an average price of $22.12, for a total transaction of $57,512.00. Following the completion of the transaction, the vice president now directly owns 4,146 shares in the company, valued at $91,709.52. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the business. Metropolitan Life Insurance Co NY bought a new stake in shares of Core & Main during the third quarter worth approximately $32,000. UMB Bank N A MO bought a new stake in Core & Main in the 1st quarter valued at $37,000. UBS Group AG acquired a new position in Core & Main in the 3rd quarter valued at $54,000. MetLife Investment Management LLC bought a new position in Core & Main during the 1st quarter worth $58,000. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of Core & Main during the fourth quarter worth $76,000. 95.48% of the stock is currently owned by hedge funds and other institutional investors.

NYSE:CNM opened at $22.40 on Monday. The company has a current ratio of 2.11, a quick ratio of 1.09 and a debt-to-equity ratio of 0.80. The business’s 50-day simple moving average is $23.54 and its 200-day simple moving average is $24.34. Core & Main has a fifty-two week low of $20.00 and a fifty-two week high of $32.54.

Core & Main (NYSE:CNM – Get Rating) last announced its quarterly earnings results on Wednesday, March 30th. The company reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.06. The company had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.14 billion. The firm’s quarterly revenue was up 49.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Core & Main will post 1.27 EPS for the current year.

About Core & Main (Get Rating)

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 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, and other related products; fire protection products, including fire protection pipes, sprinkler heads and other devices, fire suppression systems, and related accessories, as well as fabrication services; and meter products, such as smart meter products, installation, software and other services.

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Source: defenseworld.net