Deutsche Bank Aktiengesellschaft Initiates Coverage on Core & Main (NYSE:CNM)

Deutsche Bank Aktiengesellschaft assumed coverage on shares of Core & Main (NYSE:CNM - Free Report) in a report issued on Tuesday, Marketbeat.com reports. The brokerage issued a buy rating and a $60.00 target price on the stock.

Other analysts have also recently issued reports about the company. Citigroup increased their price target on Core & Main from $43.00 to $56.00 and gave the stock a "neutral" rating in a research report on Monday, January 6th. Truist Financial increased their target price on Core & Main from $38.00 to $56.00 and gave the stock a "hold" rating in a research report on Wednesday, December 4th. The Goldman Sachs Group boosted their price target on shares of Core & Main from $50.00 to $57.00 and gave the company a "neutral" rating in a report on Thursday, December 5th. Wells Fargo & Company boosted their target price on shares of Core & Main from $62.00 to $65.00 and gave the company an "overweight" rating in a research note on Tuesday, February 4th. Finally, Barclays raised their price target on shares of Core & Main from $57.00 to $65.00 and gave the company an "overweight" rating in a research note on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $57.55.

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Core & Main Stock Down 2.3 %

Shares of CNM traded down $1.07 during midday trading on Tuesday, hitting $46.12. The company had a trading volume of 3,588,755 shares, compared to its average volume of 2,281,609. The stock has a market cap of $9.13 billion, a price-to-earnings ratio of 21.65, a PEG ratio of 2.61 and a beta of 1.05. The company's 50 day moving average price is $51.06 and its 200 day moving average price is $49.10. The company has a quick ratio of 1.28, a current ratio of 2.14 and a debt-to-equity ratio of 1.36. Core & Main has a 52 week low of $37.22 and a 52 week high of $62.15.

Core & Main (NYSE:CNM - Get Free Report) last issued its earnings results on Tuesday, March 25th. The company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.03). The firm had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.67 billion. Core & Main had a return on equity of 24.71% and a net margin of 5.71%. Core & Main's revenue was up 17.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.34 EPS. On average, equities research analysts predict that Core & Main will post 2.16 EPS for the current year.

Insider Buying and Selling

In other Core & Main news, President Bradford A. Cowles sold 12,500 shares of Core & Main stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $50.50, for a total transaction of $631,250.00. Following the transaction, the president now directly owns 16,010 shares in the company, valued at approximately $808,505. The trade was a 43.84 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Mark G. Whittenburg sold 50,000 shares of the stock in a transaction on Friday, January 10th. The shares were sold at an average price of $50.49, for a total value of $2,524,500.00. Following the completion of the sale, the general counsel now owns 7,667 shares of the company's stock, valued at $387,106.83. The trade was a 86.70 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 226,257 shares of company stock worth $11,501,977. Corporate insiders own 3.49% of the company's stock.

Institutional Investors Weigh In On Core & Main

Hedge funds have recently bought and sold shares of the business. Cerity Partners LLC grew its position in Core & Main by 53.9% during the third quarter. Cerity Partners LLC now owns 31,728 shares of the company's stock valued at $1,409,000 after purchasing an additional 11,118 shares in the last quarter. Captrust Financial Advisors grew its holdings in shares of Core & Main by 11.6% during the 3rd quarter. Captrust Financial Advisors now owns 29,444 shares of the company's stock valued at $1,307,000 after acquiring an additional 3,066 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its stake in shares of Core & Main by 24.5% in the third quarter. Jacobs Levy Equity Management Inc. now owns 193,072 shares of the company's stock worth $8,572,000 after acquiring an additional 38,023 shares during the last quarter. Millburn Ridgefield Corp purchased a new stake in shares of Core & Main during the third quarter worth $118,000. Finally, Polar Asset Management Partners Inc. acquired a new stake in Core & Main during the third quarter valued at $3,024,000. 94.19% of the stock is owned by hedge funds and other institutional investors.

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.