Core & Main, Inc. (NYSE:CNM) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Core & Main, Inc. (NYSE:CNM) have earned a consensus rating of “Moderate Buy” from the ten analysts that are covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating on the company. The average 12 month target price among analysts that have covered the stock in the last year is $57.30.

CNM has been the subject of several research reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $62.00 target price (up previously from $53.00) on shares of Core & Main in a report on Wednesday, December 4th. Barclays lifted their price objective on Core & Main from $57.00 to $65.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Robert W. Baird raised their target price on Core & Main from $60.00 to $66.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Loop Capital lifted their target price on Core & Main from $52.00 to $63.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Finally, Citigroup increased their price target on shares of Core & Main from $43.00 to $56.00 and gave the stock a “neutral” rating in a research report on Monday, January 6th.

Core & Main Stock Performance

Shares of Core & Main stock opened at $55.21 on Friday. The firm has a market cap of $10.97 billion, a PE ratio of 25.92, a price-to-earnings-growth ratio of 2.79 and a beta of 1.02. 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. The business’s fifty day simple moving average is $49.74 and its 200-day simple moving average is $47.92.

Core & Main (NYSE:CNM) last posted 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 company had revenue of $2.04 billion for the quarter, compared to analysts’ expectations of $1.99 billion. During the same quarter in the prior year, the company posted $0.65 earnings per share. Core & Main’s revenue for the quarter was up 11.5% compared to the same quarter last year. Equities analysts forecast that Core & Main will post 2.16 earnings per share for the current year.

Insider Buying and Selling

In other Core & Main news, CEO Stephen O. Leclair sold 200,000 shares of Core & Main stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $54.88, for a total transaction of $10,976,000.00. Following the completion of the sale, the chief executive officer now directly owns 92,349 shares of the company’s stock, valued at $5,068,113.12. The trade was a 68.41 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Mark G. Whittenburg sold 1,974 shares of the company’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $55.29, for a total value of $109,142.46. Following the transaction, the general counsel now directly owns 7,667 shares of the company’s stock, valued at approximately $423,908.43. This represents a 20.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 427,426 shares of company stock worth $22,923,825. Company insiders own 3.49% of the company’s stock.

Institutional Investors Weigh In On Core & Main

Several institutional investors have recently added to or reduced their stakes in CNM. Ashton Thomas Securities LLC acquired a new stake in Core & Main during the third quarter worth approximately $26,000. ORG Wealth Partners LLC purchased a new position in shares of Core & Main in the 3rd quarter valued at $31,000. Avior Wealth Management LLC raised its stake in Core & Main by 51.3% during the 4th quarter. Avior Wealth Management LLC now owns 799 shares of the company’s stock worth $41,000 after acquiring an additional 271 shares in the last quarter. UMB Bank n.a. lifted its position in Core & Main by 246.0% in the fourth quarter. UMB Bank n.a. now owns 962 shares of the company’s stock valued at $49,000 after acquiring an additional 684 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new position in Core & Main in the third quarter valued at $49,000. Hedge funds and other institutional investors own 94.19% of the company’s stock.

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.