Core & Main, Inc. (NYSE:CNM) Receives $60.00 Consensus PT from Analysts

Key Points

• Core & Main, Inc. has received a consensus rating of "Hold" from eleven brokerages, with an average target price of $60.00 for the stock.
• Recent activity included significant insider selling, with CEO Mark R. Witkowski selling 100,000 shares for over $6 million, representing a 73.61% decrease in ownership.
• Core & Main reported a quarterly revenue of $1.91 billion, exceeding analysts' estimates, with earnings of $0.52 EPS in its latest earnings report.

Core & Main, Inc. (NYSE:CNM - Get Free Report) has received an average recommendation of "Hold" from the eleven brokerages that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $60.00.

Several equities analysts have recently weighed in on CNM shares. Citigroup raised their price target on shares of Core & Main from $56.00 to $62.00 and gave the stock a "neutral" rating in a research note on Tuesday, June 10th. Royal Bank Of Canada raised their price target on shares of Core & Main from $60.00 to $67.00 and gave the stock an "outperform" rating in a research note on Tuesday, June 10th. Loop Capital reissued a "hold" rating and issued a $68.00 price objective on shares of Core & Main in a report on Monday, July 28th. Wells Fargo & Company raised their price target on Core & Main from $65.00 to $70.00 and gave the company an "overweight" rating in a report on Tuesday, July 8th. Finally, JPMorgan Chase & Co. raised their price target on Core & Main from $54.00 to $56.00 and gave the company an "overweight" rating in a report on Tuesday, May 27th.

Core & Main Trading Down 0.4%

Shares of CNM stock traded down $0.26 on Friday, reaching $64.44. The company had a trading volume of 436,160 shares, compared to its average volume of 1,938,181. The company has a current ratio of 1.96, a quick ratio of 1.10 and a debt-to-equity ratio of 1.23. The stock has a market cap of $12.70 billion, a PE ratio of 29.98, a PEG ratio of 1.91 and a beta of 1.04. The company has a 50-day moving average of $63.38 and a 200-day moving average of $55.75. Core & Main has a 12 month low of $37.22 and a 12 month high of $66.27.

Core & Main (NYSE:CNM - Get Free Report) last announced its quarterly earnings results on Tuesday, June 10th. The company reported $0.52 EPS for the quarter, meeting analysts' consensus estimates of $0.52. Core & Main had a return on equity of 23.55% and a net margin of 5.47%.The company had revenue of $1.91 billion during the quarter, compared to analysts' expectations of $1.84 billion. During the same period in the prior year, the business posted $0.49 EPS. Core & Main's revenue was up 9.8% on a year-over-year basis. Core & Main has set its FY 2025 guidance at EPS. On average, equities analysts forecast that Core & Main will post 2.16 earnings per share for the current year.

Insider Transactions at Core & Main

In other Core & Main news, CFO Robyn L. Bradbury sold 25,000 shares of Core & Main stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $60.49, for a total value of $1,512,250.00. Following the transaction, the chief financial officer owned 8,555 shares in the company, valued at $517,491.95. The trade was a 74.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Mark R. Witkowski sold 100,000 shares of the business's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $64.08, for a total value of $6,408,000.00. Following the sale, the chief executive officer owned 35,847 shares in the company, valued at approximately $2,297,075.76. This trade represents a 73.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 472,956 shares of company stock valued at $29,344,741. Company insiders own 3.53% of the company's stock.

Hedge Funds Weigh In On Core & Main

Hedge funds and other institutional investors have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC lifted its stake in shares of Core & Main by 145.4% in the second quarter. EverSource Wealth Advisors LLC now owns 454 shares of the company's stock worth $27,000 after acquiring an additional 269 shares during the period. Parallel Advisors LLC raised its position in Core & Main by 447.1% in the 1st 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 last quarter. Bfsg LLC raised its position in Core & Main by 56.4% in the 2nd quarter. Bfsg LLC now owns 560 shares of the company's stock valued at $34,000 after buying an additional 202 shares during the last quarter. Cubist Systematic Strategies LLC grew its stake in Core & Main by 262.0% in the 1st quarter. Cubist Systematic Strategies LLC now owns 724 shares of the company's stock valued at $35,000 after purchasing an additional 524 shares during the period. Finally, Rossby Financial LCC bought a new position in Core & Main in the 1st quarter valued at $37,000. 94.19% of the stock is owned by institutional investors and hedge funds.

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.