Analysts Set Core & Main, Inc. (NYSE:CNM) Price Target at $57.55

Shares of Core & Main, Inc. (NYSE:CNM - Get Free Report) have been given a consensus rating of "Moderate Buy" by the eleven analysts that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $57.55.

A number of research firms have recently commented on CNM. Royal Bank of Canada lowered their target price on Core & Main from $62.00 to $60.00 and set an "outperform" rating for the company in a research note on Wednesday, March 26th. 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 report on Tuesday, February 4th. Deutsche Bank Aktiengesellschaft started coverage on shares of Core & Main in a research note on Tuesday, April 1st. They issued a "buy" rating and a $60.00 price target for the company. Citigroup boosted their price objective on shares of Core & Main from $43.00 to $56.00 and gave the stock a "neutral" rating in a research note on Monday, January 6th. Finally, Robert W. Baird lowered their target price on shares of Core & Main from $66.00 to $65.00 and set an "outperform" rating for the company in a report on Wednesday, March 26th.

Insider Activity

In related news, CAO John Weldon Stephens sold 10,214 shares of the company's stock in a transaction on Monday, April 28th. The stock was sold at an average price of $53.02, for a total transaction of $541,546.28. Following the completion of the sale, the chief accounting officer now owns 4,120 shares in the company, valued at approximately $218,442.40. This represents a 71.26 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Bradford A. Cowles sold 25,000 shares of the stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $54.48, for a total value of $1,362,000.00. Following the completion of the transaction, the president now directly owns 16,010 shares in the company, valued at approximately $872,224.80. This represents a 60.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 99,045 shares of company stock valued at $5,045,698 over the last three months. Insiders own 3.49% of the company's stock.

Institutional Investors Weigh In On Core & Main

Several hedge funds and other institutional investors have recently made changes to their positions in CNM. Parallel Advisors LLC grew its position in Core & Main by 447.1% during the first quarter. Parallel Advisors LLC now owns 651 shares of the company's stock valued at $31,000 after buying an additional 532 shares during the period. Rossby Financial LCC purchased a new stake in shares of Core & Main in the 1st quarter worth $37,000. Avior Wealth Management LLC raised its holdings in Core & Main by 51.3% in the 4th quarter. Avior Wealth Management LLC now owns 799 shares of the company's stock worth $41,000 after purchasing an additional 271 shares during the period. CWM LLC lifted its position in Core & Main by 34.0% during the first quarter. CWM LLC now owns 839 shares of the company's stock valued at $41,000 after purchasing an additional 213 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new stake in Core & Main during the third quarter valued at about $49,000. Hedge funds and other institutional investors own 94.19% of the company's stock.

Core & Main Trading Up 1.4 %

NYSE CNM traded up $0.74 on Monday, hitting $53.76. The company's stock had a trading volume of 173,250 shares, compared to its average volume of 2,290,371. The firm has a market cap of $10.64 billion, a P/E ratio of 25.21, a PEG ratio of 2.61 and a beta of 1.05. Core & Main has a 52-week low of $37.22 and a 52-week high of $62.15. The company's 50-day simple moving average is $48.97 and its 200 day simple moving average is $49.90. 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 released its quarterly earnings results on Tuesday, March 25th. The company reported $0.33 earnings per share 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 company had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.67 billion. During the same quarter last year, the firm earned $0.34 EPS. The business's revenue was up 17.9% on a year-over-year basis. Research analysts predict that Core & Main will post 2.16 EPS for the current fiscal year.

Core & Main Company Profile

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.