Core & Main, Inc. (NYSE:CNM – Get Rating) has received an average rating of “Moderate Buy” from the nine brokerages that are currently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $28.44.
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A number of analysts have weighed in on CNM shares. Truist Financial lowered their target price on Core & Main to $22.00 in a report on Wednesday, December 14th. The Goldman Sachs Group reduced their price target on Core & Main from $29.00 to $25.00 and set a “neutral” rating on the stock in a research report on Thursday, December 15th. Citigroup reduced their price target on Core & Main from $26.00 to $22.00 and set a “neutral” rating on the stock in a research report on Friday, December 16th. Robert W. Baird reduced their price target on Core & Main from $30.00 to $29.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 24th. Finally, Loop Capital started coverage on Core & Main in a research report on Monday, February 13th. They set a “buy” rating and a $28.00 price target on the stock.
Core & Main Stock Up 1.5 %
Core & Main stock opened at $21.77 on Wednesday. The business has a fifty day moving average of $22.17 and a two-hundred day moving average of $21.95. The company has a quick ratio of 1.32, a current ratio of 2.49 and a debt-to-equity ratio of 0.65. The firm has a market cap of $5.35 billion, a P/E ratio of 10.37, a P/E/G ratio of 0.62 and a beta of 0.82. Core & Main has a twelve month low of $18.75 and a twelve month high of $26.63.
Core & Main (NYSE:CNM – Get Rating) last posted its earnings results on Tuesday, December 13th. The company reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.05. The company had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.78 billion. Core & Main had a return on equity of 22.01% and a net margin of 5.52%. On average, analysts forecast that Core & Main will post 2.15 earnings per share for the current fiscal year.
Insider Activity at Core & Main
In related news, insider Laura K. Schneider sold 66,763 shares of the company’s stock in a transaction on Friday, March 3rd. The stock was sold at an average price of $24.03, for a total value of $1,604,314.89. Following the transaction, the insider now directly owns 4,866 shares of the company’s stock, valued at approximately $116,929.98. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Core & Main news, General Counsel Mark G. Whittenburg sold 24,793 shares of the stock in a transaction dated Friday, February 24th. The stock was sold at an average price of $23.04, for a total transaction of $571,230.72. Following the sale, the general counsel now directly owns 5,286 shares of the company’s stock, valued at approximately $121,789.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Laura K. Schneider sold 66,763 shares of the stock in a transaction dated Friday, March 3rd. The stock was sold at an average price of $24.03, for a total value of $1,604,314.89. Following the sale, the insider now directly owns 4,866 shares in the company, valued at $116,929.98. The disclosure for this sale can be found here. Insiders have sold a total of 129,171 shares of company stock valued at $3,072,903 in the last ninety days. Company insiders own 1.20% of the company’s stock.
Institutional Investors Weigh In On Core & Main
Several hedge funds have recently modified their holdings of CNM. Tortoise Capital Advisors L.L.C. lifted its stake in Core & Main by 3.3% in the 4th quarter. Tortoise Capital Advisors L.L.C. now owns 15,933 shares of the company’s stock valued at $308,000 after buying an additional 506 shares in the last quarter. Assetmark Inc. lifted its stake in Core & Main by 25.2% in the 4th quarter. Assetmark Inc. now owns 2,701 shares of the company’s stock valued at $52,000 after buying an additional 543 shares in the last quarter. Janney Montgomery Scott LLC lifted its stake in Core & Main by 4.8% in the 3rd quarter. Janney Montgomery Scott LLC now owns 12,038 shares of the company’s stock valued at $274,000 after buying an additional 550 shares in the last quarter. Arizona State Retirement System lifted its stake in Core & Main by 3.7% in the 4th quarter. Arizona State Retirement System now owns 18,954 shares of the company’s stock valued at $366,000 after buying an additional 673 shares in the last quarter. Finally, Southeast Asset Advisors Inc. lifted its stake in Core & Main by 1.1% in the 3rd quarter. Southeast Asset Advisors Inc. now owns 61,561 shares of the company’s stock valued at $1,400,000 after buying an additional 674 shares in the last quarter. 95.16% of the stock is owned by hedge funds and other institutional investors.
About Core & Main
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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