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

Key Points

• Core & Main has a consensus analyst rating of “Moderate Buy” from 12 brokerages, with seven buy ratings and five hold ratings. The average 12-month price target is about $57.73.
• Several firms recently adjusted their views, including Deutsche Bank and Barclays, both of which trimmed price targets but kept bullish ratings, while Goldman Sachs and Citigroup maintained neutral stances.
• Director James D. Hope bought 2,067 shares at $46.01 each, signaling insider confidence. Institutional investors remain heavily involved, owning about 94.19% of the stock.

Shares of Core & Main, Inc. (NYSE:CNM - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the twelve brokerages that are presently covering the stock, Marketbeat reports. Five equities research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $57.7273.

A number of analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft decreased their price target on Core & Main from $65.00 to $62.00 and set a "buy" rating on the stock in a research note on Wednesday, March 25th. Barclays cut their price objective on shares of Core & Main from $63.00 to $62.00 and set an "overweight" rating on the stock in a report on Wednesday, March 25th. The Goldman Sachs Group restated a "neutral" rating and issued a $24.00 target price on shares of Core & Main in a report on Thursday, June 11th. Finally, Citigroup dropped their price target on shares of Core & Main from $54.00 to $53.00 and set a "neutral" rating for the company in a research report on Thursday, June 11th.

Insider Activity

In other news, Director James D. Hope acquired 2,067 shares of the company's stock in a transaction dated Monday, July 6th. The stock was acquired at an average cost of $46.01 per share, for a total transaction of $95,102.67. Following the acquisition, the director directly owned 11,805 shares in the company, valued at approximately $543,148.05. This represents a 21.23% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 1.51% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. TD Waterhouse Canada Inc. purchased a new stake in Core & Main during the fourth quarter worth approximately $26,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Core & Main by 145.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 454 shares of the company's stock valued at $27,000 after acquiring an additional 269 shares in the last quarter. Whittier Trust Co. acquired a new position in shares of Core & Main during the 4th quarter valued at $28,000. Cubist Systematic Strategies LLC boosted its position in Core & Main by 262.0% during the 1st quarter. Cubist Systematic Strategies LLC now owns 724 shares of the company's stock worth $35,000 after purchasing an additional 524 shares during the period. Finally, Quarry LP acquired a new stake in Core & Main in the 4th quarter valued at $38,000. Institutional investors and hedge funds own 94.19% of the company's stock.

Core & Main Stock Performance

Core & Main stock opened at $43.32 on Wednesday. The firm has a market capitalization of $8.38 billion, a P/E ratio of 18.36, a PEG ratio of 1.52 and a beta of 0.91. The stock has a fifty day moving average price of $47.55 and a 200 day moving average price of $51.01. Core & Main has a 52 week low of $42.50 and a 52 week high of $67.18. The company has a current ratio of 2.31, a quick ratio of 1.31 and a debt-to-equity ratio of 1.00.

Core & Main Company Profile

Core & Main, Inc NYSE: CNM is a leading distributor of water, sewer, storm drainage and fire protection products across North America. The company's product portfolio includes valves, hydrants, pipe and fittings, meters, couplings and other essential components that support municipal, industrial and environmental infrastructure projects. By combining a comprehensive inventory with logistics and technical support, Core & Main helps customers address complex water system and distribution challenges.

With more than 300 branch locations and over 3,500 employees, Core & Main serves a diverse customer base that includes municipalities, contractors, engineers and utility providers.

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