Citigroup Issues Positive Forecast for Core & Main (NYSE:CNM) Stock Price

Core & Main (NYSE:CNM - Get Free Report) had its price objective lifted by analysts at Citigroup from $43.00 to $56.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. Citigroup's target price points to a potential upside of 8.91% from the stock's previous close.

CNM has been the subject of a number of other reports. Truist Financial lifted their price target on shares of Core & Main from $38.00 to $56.00 and gave the company a "hold" rating in a research report on Wednesday, December 4th. Loop Capital lifted their target price on shares of Core & Main from $52.00 to $63.00 and gave the company a "buy" rating in a report on Wednesday, December 4th. Robert W. Baird raised their price objective on Core & Main from $60.00 to $66.00 and gave the company an "outperform" rating in a research report on Wednesday, December 4th. Barclays boosted their target price on Core & Main from $57.00 to $65.00 and gave the stock an "overweight" rating in a report on Wednesday, December 4th. Finally, Wells Fargo & Company increased their target price on Core & Main from $52.00 to $62.00 and gave the stock an "overweight" rating in a research note on Thursday, December 5th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $57.30.

Core & Main Trading Down 1.3 %

CNM stock traded down $0.67 during trading on Monday, reaching $51.42. The company had a trading volume of 1,356,870 shares, compared to its average volume of 1,580,357. The company has a debt-to-equity ratio of 1.36, a current ratio of 2.14 and a quick ratio of 1.28. Core & Main has a 52 week low of $37.22 and a 52 week high of $62.15. The business has a 50 day moving average of $48.43 and a 200 day moving average of $47.75. The company has a market cap of $10.22 billion, a P/E ratio of 24.14, a PEG ratio of 2.95 and a beta of 1.02.

Core & Main (NYSE:CNM - Get Free Report) last released its earnings results on Tuesday, December 3rd. The company reported $0.69 EPS for the quarter, beating analysts' consensus estimates of $0.65 by $0.04. The company had revenue of $2.04 billion during the quarter, compared to analysts' expectations of $1.99 billion. Core & Main had a return on equity of 24.71% and a net margin of 5.71%. The firm's revenue for the quarter was up 11.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.65 EPS. As a group, sell-side analysts forecast that Core & Main will post 2.16 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Stephen O. Leclair sold 200,000 shares of the business's stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $54.88, for a total value of $10,976,000.00. Following the transaction, the chief executive officer now owns 92,349 shares of the company's stock, valued at approximately $5,068,113.12. The trade was a 68.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Bradford A. Cowles sold 50,000 shares of the firm's stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $55.07, for a total value of $2,753,500.00. Following the transaction, the president now owns 18,423 shares of the company's stock, valued at approximately $1,014,554.61. The trade was a 73.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 290,000 shares of company stock valued at $15,926,000 in the last ninety days. Corporate insiders own 3.49% of the company's stock.

Institutional Investors Weigh In On Core & Main

A number of hedge funds have recently made changes to their positions in CNM. United Services Automobile Association raised its holdings in shares of Core & Main by 2.0% during the 2nd quarter. United Services Automobile Association now owns 13,307 shares of the company's stock worth $651,000 after acquiring an additional 266 shares in the last quarter. Andina Capital Management LLC lifted its position in Core & Main by 3.5% during the third quarter. Andina Capital Management LLC now owns 8,707 shares of the company's stock valued at $387,000 after purchasing an additional 294 shares during the last quarter. GAMMA Investing LLC lifted its position in Core & Main by 61.1% during the third quarter. GAMMA Investing LLC now owns 1,348 shares of the company's stock valued at $60,000 after purchasing an additional 511 shares during the last quarter. Ashton Thomas Securities LLC purchased a new position in shares of Core & Main in the 3rd quarter worth $26,000. Finally, National Bank of Canada FI increased its holdings in shares of Core & Main by 4.7% in the 2nd quarter. National Bank of Canada FI now owns 14,453 shares of the company's stock worth $700,000 after buying an additional 653 shares during the last quarter. 94.19% of the stock is currently 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 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.