Core & Main, Inc. (NYSE:CNM) Given Average Rating of "Moderate Buy" by Analysts

Core & Main, Inc. (NYSE:CNM - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the ten brokerages that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $58.10.

CNM has been the subject of a number of recent research reports. Wells Fargo & Company increased their price objective on Core & Main from $52.00 to $62.00 and gave the stock an "overweight" rating in a research report on Thursday, December 5th. Loop Capital upped their price objective on shares of Core & Main from $52.00 to $63.00 and gave the stock a "buy" rating in a research report on Wednesday, December 4th. Bank of America lowered their price objective on Core & Main from $38.00 to $34.00 and set an "underperform" rating on the stock in a report on Thursday, September 5th. JPMorgan Chase & Co. cut their target price on Core & Main from $54.00 to $52.00 and set an "overweight" rating for the company in a research note on Tuesday, September 3rd. Finally, Truist Financial increased their price objective on Core & Main from $38.00 to $56.00 and gave the stock a "hold" rating in a research report on Wednesday, December 4th.

Core & Main Stock Performance

Shares of Core & Main stock traded up $0.35 during trading on Tuesday, reaching $51.47. The company's stock had a trading volume of 690,712 shares, compared to its average volume of 2,602,744. The company has a 50-day moving average price of $47.44 and a two-hundred day moving average price of $47.65. Core & Main has a fifty-two week low of $37.22 and a fifty-two week high of $62.15. The firm has a market cap of $10.23 billion, a PE ratio of 24.16, a P/E/G ratio of 2.95 and a beta of 1.04. The company has a current ratio of 2.14, a quick ratio of 1.28 and a debt-to-equity ratio of 1.36.

Core & Main (NYSE:CNM - Get Free Report) last announced 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. Core & Main had a net margin of 5.71% and a return on equity of 24.71%. The business had revenue of $2.04 billion during the quarter, compared to analysts' expectations of $1.99 billion. During the same period in the prior year, the company earned $0.65 earnings per share. The business's revenue was up 11.5% compared to the same quarter last year. On average, analysts forecast that Core & Main will post 2.16 EPS for the current year.

Insiders Place Their Bets

In other news, President Bradford A. Cowles sold 50,000 shares of the firm's stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $55.07, for a total transaction of $2,753,500.00. Following the completion of the sale, the president now directly owns 18,423 shares in the company, valued at $1,014,554.61. This trade represents a 73.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jeffrey D. Giles sold 25,000 shares of the business's stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $54.71, for a total value of $1,367,750.00. Following the completion of the transaction, the executive vice president now owns 11,615 shares in the company, valued at approximately $635,456.65. This trade represents a 68.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 290,000 shares of company stock worth $15,926,000 over the last three months. 3.49% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of CNM. Ashton Thomas Securities LLC acquired a new position in shares of Core & Main in the 3rd quarter valued at about $26,000. ORG Wealth Partners LLC acquired a new position in Core & Main in the third quarter valued at approximately $31,000. Wilmington Savings Fund Society FSB bought a new position in shares of Core & Main during the third quarter valued at approximately $49,000. GAMMA Investing LLC raised its position in shares of Core & Main by 61.1% during the 3rd quarter. GAMMA Investing LLC now owns 1,348 shares of the company's stock worth $60,000 after purchasing an additional 511 shares during the period. Finally, Brown Brothers Harriman & Co. bought a new stake in shares of Core & Main in the 2nd quarter worth approximately $76,000. Institutional investors own 94.19% of the company's stock.

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.