Core & Main (NYSE:CNM) Earns Buy Rating from Analysts at UBS Group

UBS Group assumed coverage on shares of Core & Main (NYSE:CNM) in a research note published on Monday, MarketBeat reports. The firm issued a buy rating and a $65.00 price target on the stock.

A number of other equities research analysts also recently weighed in on the company. Loop Capital reiterated a “hold” rating and issued a $68.00 price target on shares of Core & Main in a report on Monday, July 28th. Citigroup cut their target price on shares of Core & Main from $62.00 to $54.00 and set a “neutral” rating on the stock in a report on Wednesday, September 10th. Wells Fargo & Company decreased their target price on Core & Main from $70.00 to $58.00 and set an “overweight” rating for the company in a research note on Wednesday, September 10th. Truist Financial dropped their price target on Core & Main from $56.00 to $50.00 and set a “hold” rating on the stock in a research report on Thursday, September 11th. Finally, JPMorgan Chase & Co. cut their price target on Core & Main from $64.00 to $54.00 and set an “overweight” rating on the stock in a report on Wednesday, September 10th. Seven analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $60.27.

Core & Main Stock Performance

Shares of CNM opened at $52.63 on Monday. The firm has a market cap of $10.39 billion, a price-to-earnings ratio of 23.49, a PEG ratio of 2.11 and a beta of 0.99. The company has a quick ratio of 1.30, a current ratio of 2.25 and a debt-to-equity ratio of 1.14. The business’s 50 day moving average is $59.98 and its two-hundred day moving average is $56.28. Core & Main has a 52-week low of $41.60 and a 52-week high of $67.18.

Core & Main (NYSE:CNM) last issued its quarterly earnings results on Tuesday, September 9th. The company reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.08. The business had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2.12 billion. Core & Main had a net margin of 5.57% and a return on equity of 25.44%. The business’s revenue was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.61 earnings per share. Core & Main has set its FY 2025 guidance at EPS. Analysts forecast that Core & Main will post 2.16 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Orvin T. Kimbrough sold 23,962 shares of the firm’s stock in a transaction on Friday, July 18th. The stock was sold at an average price of $61.77, for a total transaction of $1,480,132.74. Following the transaction, the director directly owned 13,958 shares of the company’s stock, valued at approximately $862,185.66. This trade represents a 63.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Robyn L. Bradbury sold 5,000 shares of the stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $64.51, for a total transaction of $322,550.00. Following the completion of the transaction, the chief financial officer owned 8,555 shares of the company’s stock, valued at $551,883.05. This represents a 36.89% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 317,928 shares of company stock valued at $19,847,647. Company insiders own 3.53% of the company’s stock.

Hedge Funds Weigh In On Core & Main

Large investors have recently made changes to their positions in the business. EverSource Wealth Advisors LLC raised its holdings in shares of Core & Main by 145.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 454 shares of the company’s stock worth $27,000 after purchasing an additional 269 shares in the last quarter. Parallel Advisors LLC lifted its stake in Core & Main by 447.1% during the first quarter. Parallel Advisors LLC now owns 651 shares of the company’s stock valued at $31,000 after buying an additional 532 shares in the last quarter. Bfsg LLC boosted its holdings in shares of Core & Main by 56.4% in the second quarter. Bfsg LLC now owns 560 shares of the company’s stock worth $34,000 after buying an additional 202 shares during the period. Cubist Systematic Strategies LLC increased its position in shares of Core & Main by 262.0% in the first quarter. Cubist Systematic Strategies LLC now owns 724 shares of the company’s stock worth $35,000 after acquiring an additional 524 shares in the last quarter. Finally, Rossby Financial LCC acquired a new stake in shares of Core & Main during the first quarter valued at approximately $37,000. Institutional investors own 94.19% of the company’s stock.

Core & Main Company Profile

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.