Core & Main (NYSE:CNM – Free Report) had its price objective cut by Truist Financial from $56.00 to $50.00 in a research note released on Wednesday, Benzinga reports. They currently have a hold rating on the stock.
A number of other analysts have also commented on the stock. Barclays boosted their price target on shares of Core & Main from $49.00 to $65.00 and gave the company an overweight rating in a research note on Wednesday, March 20th. Royal Bank of Canada upped their target price on shares of Core & Main from $59.00 to $60.00 and gave the stock an outperform rating in a research note on Wednesday, March 20th. Citigroup lowered shares of Core & Main from a buy rating to a neutral rating and upped their target price for the stock from $63.00 to $64.00 in a research note on Friday, April 5th. The Goldman Sachs Group upped their target price on shares of Core & Main from $42.00 to $61.00 and gave the stock a neutral rating in a research note on Tuesday, March 26th. Finally, Loop Capital upped their target price on shares of Core & Main from $58.00 to $64.00 and gave the stock a buy rating in a research note on Wednesday, March 20th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of $51.08.
Check Out Our Latest Research Report on CNM
Core & Main Stock Performance
Shares of CNM stock opened at $49.62 on Wednesday. The firm has a market capitalization of $9.99 billion, a PE ratio of 23.08, a price-to-earnings-growth ratio of 1.73 and a beta of 1.12. The firm has a fifty day simple moving average of $57.61 and a two-hundred day simple moving average of $48.02. The company has a current ratio of 2.29, a quick ratio of 1.30 and a debt-to-equity ratio of 1.22. Core & Main has a 12 month low of $27.06 and a 12 month high of $62.15.
Core & Main (NYSE:CNM – Get Free Report) last announced its quarterly earnings results on Tuesday, June 4th. The company reported $0.49 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.02). The business had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.72 billion. Core & Main had a net margin of 5.54% and a return on equity of 18.22%. The business’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.50 EPS. Analysts forecast that Core & Main will post 2.59 EPS for the current fiscal year.
Insider Buying and Selling
In related news, CAO John Weldon Stephens sold 15,000 shares of the business’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $57.91, for a total value of $868,650.00. Following the transaction, the chief accounting officer now directly owns 4,281 shares of the company’s stock, valued at approximately $247,912.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Core & Main news, CAO John Weldon Stephens sold 15,000 shares of the company’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $57.91, for a total transaction of $868,650.00. Following the sale, the chief accounting officer now directly owns 4,281 shares of the company’s stock, valued at $247,912.71. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Mark R. Witkowski sold 50,000 shares of the company’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $58.51, for a total transaction of $2,925,500.00. Following the sale, the chief financial officer now directly owns 23,898 shares in the company, valued at $1,398,271.98. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 230,000 shares of company stock valued at $13,191,217. 3.49% of the stock is owned by insiders.
Institutional Investors Weigh In On Core & Main
Several institutional investors have recently added to or reduced their stakes in the business. Teachers Retirement System of The State of Kentucky lifted its holdings in Core & Main by 51.2% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 52,900 shares of the company’s stock valued at $3,029,000 after purchasing an additional 17,911 shares during the last quarter. Swedbank AB purchased a new stake in Core & Main during the first quarter valued at about $98,876,000. Virtu Financial LLC purchased a new stake in Core & Main during the first quarter valued at about $831,000. Plato Investment Management Ltd lifted its holdings in Core & Main by 736.5% during the first quarter. Plato Investment Management Ltd now owns 4,007 shares of the company’s stock valued at $229,000 after purchasing an additional 3,528 shares during the last quarter. Finally, Zimmer Partners LP purchased a new stake in shares of Core & Main in the first quarter worth about $24,331,000. 94.19% of the stock is owned by hedge funds and other institutional investors.
Core & Main Company Profile
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 portfolio 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, erosion control, and other related products; fire protection products, including fire protection pipes, and sprinkler heads and devices, as well as fabrication services; and meter products, such as smart meter products, meter sets, meter accessories, installation, software, and other services.
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