Core & Main (NYSE:CNM) Receives Hold Rating from Loop Capital

Loop Capital reiterated their hold rating on shares of Core & Main (NYSE:CNM) in a research report released on Monday, Marketbeat Ratings reports. Loop Capital currently has a $68.00 target price on the stock.

CNM has been the topic of a number of other research reports. JPMorgan Chase & Co. increased their target price on Core & Main from $54.00 to $56.00 and gave the company an “overweight” rating in a report on Tuesday, May 27th. Deutsche Bank Aktiengesellschaft assumed coverage on Core & Main in a report on Tuesday, April 1st. They set a “buy” rating and a $60.00 price objective on the stock. Royal Bank Of Canada raised their price objective on Core & Main from $60.00 to $67.00 and gave the stock an “outperform” rating in a report on Tuesday, June 10th. Wells Fargo & Company lifted their target price on Core & Main from $65.00 to $70.00 and gave the company an “overweight” rating in a report on Tuesday, July 8th. Finally, Citigroup lifted their target price on Core & Main from $56.00 to $62.00 and gave the company a “neutral” rating in a report on Tuesday, June 10th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $60.00.

Core & Main Stock Performance

NYSE CNM opened at $65.60 on Monday. Core & Main has a 1-year low of $37.22 and a 1-year high of $65.97. The company has a market capitalization of $12.93 billion, a P/E ratio of 30.51, a PEG ratio of 1.94 and a beta of 1.04. The business has a 50 day moving average price of $59.07 and a 200 day moving average price of $54.08. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.96 and a quick ratio of 1.10.

Core & Main (NYSE:CNM) last released its quarterly earnings data on Tuesday, June 10th. The company reported $0.52 earnings per share for the quarter, meeting the consensus estimate of $0.52. Core & Main had a return on equity of 23.55% and a net margin of 5.47%. The firm had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.84 billion. During the same period last year, the business posted $0.49 EPS. Core & Main’s quarterly revenue was up 9.8% on a year-over-year basis. Sell-side analysts expect that Core & Main will post 2.16 EPS for the current fiscal year.

Insider Activity at Core & Main

In other Core & Main news, General Counsel Mark G. Whittenburg sold 49,100 shares of the business’s stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $60.03, for a total transaction of $2,947,473.00. Following the transaction, the general counsel owned 9,691 shares in the company, valued at $581,750.73. The trade was a 83.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director James G. Castellano sold 43,994 shares of the business’s stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $61.98, for a total value of $2,726,748.12. Following the completion of the transaction, the director owned 4,638 shares in the company, valued at approximately $287,463.24. This trade represents a 90.46% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 428,445 shares of company stock valued at $26,045,755 over the last 90 days. Corporate insiders own 3.53% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CNM. Corient Private Wealth LLC lifted its stake in shares of Core & Main by 9.2% in the fourth quarter. Corient Private Wealth LLC now owns 7,117 shares of the company’s stock worth $362,000 after acquiring an additional 599 shares in the last quarter. LPL Financial LLC lifted its stake in shares of Core & Main by 16.1% in the fourth quarter. LPL Financial LLC now owns 17,757 shares of the company’s stock worth $904,000 after acquiring an additional 2,461 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Core & Main by 0.3% in the fourth quarter. JPMorgan Chase & Co. now owns 2,847,032 shares of the company’s stock worth $144,942,000 after acquiring an additional 7,633 shares in the last quarter. Norges Bank acquired a new position in shares of Core & Main in the fourth quarter worth about $99,734,000. Finally, New Age Alpha Advisors LLC acquired a new position in shares of Core & Main in the fourth quarter worth about $1,227,000. Institutional investors and hedge funds 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.