Core & Main (NYSE:CNM) Shares Gap Up to $21.63 – Defense World

Shares of Core & Main, Inc. (NYSE:CNM – Get Rating) gapped up prior to trading on Tuesday . The stock had previously closed at $21.63, but opened at $22.93. Core & Main shares last traded at $23.02, with a volume of 7,742 shares trading hands.

CNM has been the subject of several research analyst reports. Royal Bank of Canada decreased their price objective on Core & Main from $33.00 to $31.00 and set an “outperform” rating for the company in a report on Thursday, March 31st. Barclays upgraded Core & Main from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $32.00 to $34.00 in a research note on Thursday, March 31st. Bank of America cut Core & Main from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $31.00 to $25.00 in a research note on Thursday, February 17th. Finally, Truist Financial cut their price target on Core & Main from $32.00 to $28.00 and set a “hold” rating for the company in a research note on Thursday, March 31st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $31.00.

The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.09 and a current ratio of 2.11. The business has a 50 day moving average of $23.48 and a 200 day moving average of $24.29.

Core & Main (NYSE:CNM – Get Rating) last posted its quarterly earnings data on Wednesday, March 30th. The company reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.06. The company had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.14 billion. The firm’s quarterly revenue was up 49.9% compared to the same quarter last year. Research analysts expect that Core & Main, Inc. will post 1.27 EPS for the current year.

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

A number of large investors have recently modified their holdings of CNM. Metropolitan Life Insurance Co NY acquired a new stake in Core & Main in the 3rd quarter worth about $32,000. UMB Bank N A MO acquired a new position in shares of Core & Main in the 1st quarter valued at about $37,000. UBS Group AG acquired a new position in shares of Core & Main in the 3rd quarter valued at about $54,000. MetLife Investment Management LLC acquired a new position in shares of Core & Main in the 1st quarter valued at about $58,000. Finally, Point72 Hong Kong Ltd acquired a new position in shares of Core & Main in the 4th quarter valued at about $76,000. 95.48% of the stock is currently owned by hedge funds and other institutional investors.

About Core & Main (NYSE:CNM)

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