Core & Main (NYSE:CNM) Coverage Initiated by Analysts at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft assumed coverage on shares of Core & Main (NYSE:CNM) in a research report released on Tuesday, MarketBeat Ratings reports. The firm issued a buy rating and a $60.00 price target on the stock.

A number of other equities analysts have also weighed in on the company. Loop Capital upped their price objective on Core & Main from $52.00 to $63.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Barclays upped their price target on Core & Main from $57.00 to $65.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Wells Fargo & Company lifted their price objective on shares of Core & Main from $62.00 to $65.00 and gave the company an “overweight” rating in a research report on Tuesday, February 4th. Truist Financial boosted their target price on shares of Core & Main from $38.00 to $56.00 and gave the stock a “hold” rating in a report on Wednesday, December 4th. Finally, Citigroup raised their target price on shares of Core & Main from $43.00 to $56.00 and gave the company a “neutral” rating in a research note on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Core & Main has an average rating of “Moderate Buy” and an average target price of $57.55.

Core & Main Price Performance

Shares of NYSE:CNM opened at $49.36 on Tuesday. The company has a market capitalization of $9.81 billion, a P/E ratio of 23.17, a P/E/G ratio of 2.61 and a beta of 1.05. Core & Main has a 1-year low of $37.22 and a 1-year high of $62.15. The firm’s 50 day simple moving average is $51.58 and its two-hundred day simple moving average is $49.07. 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 (NYSE:CNM) last announced its quarterly earnings data on Tuesday, March 25th. The company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.03). Core & Main had a net margin of 5.71% and a return on equity of 24.71%. The firm had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.67 billion. During the same quarter in the previous year, the business earned $0.34 earnings per share. The firm’s revenue for the quarter was up 17.9% on a year-over-year basis. Research analysts expect that Core & Main will post 2.16 EPS for the current fiscal year.

Insider Buying and Selling at Core & Main

In related news, President Bradford A. Cowles sold 12,500 shares of the stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $50.50, for a total value of $631,250.00. Following the completion of the transaction, the president now owns 16,010 shares of the company’s stock, valued at approximately $808,505. This trade represents a 43.84 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP John R. Schaller sold 21,868 shares of Core & Main stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $46.82, for a total value of $1,023,859.76. Following the completion of the transaction, the executive vice president now owns 16,452 shares of the company’s stock, valued at approximately $770,282.64. This represents a 57.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 184,294 shares of company stock worth $9,383,685 over the last 90 days. 3.49% of the stock is owned by insiders.

Hedge Funds Weigh In On Core & Main

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in Core & Main by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 18,219,997 shares of the company’s stock worth $927,580,000 after buying an additional 221,970 shares during the period. FMR LLC lifted its holdings in shares of Core & Main by 4.1% in the 4th quarter. FMR LLC now owns 9,055,993 shares of the company’s stock worth $461,041,000 after acquiring an additional 358,909 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Core & Main by 0.8% during the 4th quarter. Invesco Ltd. now owns 5,926,569 shares of the company’s stock worth $301,722,000 after purchasing an additional 44,513 shares during the period. State Street Corp grew its holdings in Core & Main by 9.7% during the 3rd quarter. State Street Corp now owns 5,522,009 shares of the company’s stock valued at $245,177,000 after purchasing an additional 489,224 shares during the last quarter. Finally, Bessemer Group Inc. grew its holdings in Core & Main by 0.5% during the 4th quarter. Bessemer Group Inc. now owns 3,835,182 shares of the company’s stock valued at $195,250,000 after purchasing an additional 20,756 shares during the last quarter. Institutional investors 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.