Core & Main, Inc. (NYSE:CNM) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Core & Main, Inc. (NYSE:CNM) have earned an average rating of “Moderate Buy” from the eleven brokerages that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $57.55.

A number of brokerages have recently weighed in on CNM. Royal Bank of Canada lowered their target price on Core & Main from $62.00 to $60.00 and set an “outperform” rating for the company in a research note on Wednesday, March 26th. Wells Fargo & Company raised their target price on Core & Main from $62.00 to $65.00 and gave the company an “overweight” rating in a research note on Tuesday, February 4th. Robert W. Baird lowered their target price on Core & Main from $66.00 to $65.00 and set an “outperform” rating for the company in a research note on Wednesday, March 26th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Core & Main in a research note on Tuesday, April 1st. They issued a “buy” rating and a $60.00 target price for the company.

Core & Main Stock Performance

Core & Main stock opened at $53.17 on Friday. The company has a debt-to-equity ratio of 1.36, a current ratio of 2.14 and a quick ratio of 1.28. The stock has a fifty day moving average price of $50.32 and a two-hundred day moving average price of $50.68. Core & Main has a 52-week low of $37.22 and a 52-week high of $60.69. The firm has a market capitalization of $10.52 billion, a P/E ratio of 24.96, a P/E/G ratio of 2.61 and a beta of 1.04.

Core & Main (NYSE:CNM) last released its quarterly earnings data on Tuesday, March 25th. The company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.03). Core & Main had a return on equity of 24.71% and a net margin of 5.71%. The company had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.67 billion. During the same quarter in the prior year, the company earned $0.34 earnings per share. The business’s revenue was up 17.9% compared to the same quarter last year. As a group, analysts anticipate that Core & Main will post 2.16 EPS for the current fiscal year.

Insider Transactions at Core & Main

In other news, EVP John R. Schaller sold 21,868 shares of Core & Main stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $46.82, for a total transaction of $1,023,859.76. Following 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 document filed with the SEC, which is available at this hyperlink. Also, CAO John Weldon Stephens sold 10,214 shares of Core & Main stock in a transaction dated Monday, April 28th. The shares were sold at an average price of $53.02, for a total value of $541,546.28. Following the transaction, the chief accounting officer now owns 4,120 shares in the company, valued at $218,442.40. This trade represents a 71.26% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 74,045 shares of company stock worth $3,683,698. 3.49% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Core & Main

Several institutional investors have recently modified their holdings of CNM. Parallel Advisors LLC lifted its holdings in shares of Core & Main by 447.1% during the 1st quarter. Parallel Advisors LLC now owns 651 shares of the company’s stock valued at $31,000 after purchasing an additional 532 shares in the last quarter. Cubist Systematic Strategies LLC lifted its holdings in shares of Core & Main by 262.0% during the 1st quarter. Cubist Systematic Strategies LLC now owns 724 shares of the company’s stock valued at $35,000 after purchasing an additional 524 shares in the last quarter. Rossby Financial LCC bought a new position in shares of Core & Main during the 1st quarter valued at about $37,000. Avior Wealth Management LLC lifted its holdings in shares of Core & Main by 51.3% during the 4th quarter. Avior Wealth Management LLC now owns 799 shares of the company’s stock valued at $41,000 after purchasing an additional 271 shares in the last quarter. Finally, CWM LLC lifted its holdings in shares of Core & Main by 34.0% during the 1st quarter. CWM LLC now owns 839 shares of the company’s stock valued at $41,000 after purchasing an additional 213 shares in the last quarter. Institutional investors 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.