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

Key Points

• Core & Main, Inc. (NYSE:CNM) has received a consensus rating of "Moderate Buy" from ten analysts, with an average 1-year price target of $59.60.
• In their quarterly earnings report, Core & Main reported an EPS of $0.87, exceeding estimates, while revenue reached $2.09 billion with a year-over-year increase of 6.6%.
• Insider selling has been notable, with the Director and CFO selling significant shares, indicating a 90.46% and 36.89% decrease in their respective holdings.

Shares of Core & Main, Inc. (NYSE:CNM - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the ten analysts that are presently covering the stock, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $59.60.

Several research firms have issued reports on CNM. Citigroup dropped their price target on Core & Main from $62.00 to $54.00 and set a "neutral" rating on the stock in a research note on Wednesday, September 10th. Barclays dropped their price target on Core & Main from $69.00 to $65.00 and set an "overweight" rating on the stock in a research note on Wednesday, September 10th. Loop Capital reissued a "hold" rating and issued a $68.00 price target on shares of Core & Main in a research note on Monday, July 28th. The Goldman Sachs Group lowered their target price on Core & Main from $68.00 to $60.00 and set a "neutral" rating on the stock in a research report on Friday, September 12th. Finally, Wells Fargo & Company lowered their target price on Core & Main from $70.00 to $58.00 and set an "overweight" rating on the stock in a research report on Wednesday, September 10th.

Core & Main Stock Performance

CNM opened at $49.86 on Thursday. The business's 50-day moving average price is $61.04 and its two-hundred day moving average price is $56.08. Core & Main has a 1 year low of $41.60 and a 1 year high of $67.18. The company has a market capitalization of $9.84 billion, a price-to-earnings ratio of 22.26, a P/E/G ratio of 2.01 and a beta of 1.04. The company has a debt-to-equity ratio of 1.14, a current ratio of 2.25 and a quick ratio of 1.30.

Core & Main (NYSE:CNM - Get Free Report) last released its quarterly earnings results on Tuesday, September 9th. The company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.08. Core & Main had a return on equity of 25.44% and a net margin of 5.57%.The firm had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.12 billion. During the same quarter last year, the business posted $0.61 EPS. The company's revenue for the quarter was up 6.6% on a year-over-year basis. Core & Main has set its FY 2025 guidance at EPS. Equities analysts expect that Core & Main will post 2.16 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director James G. Castellano sold 43,994 shares of Core & Main stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $61.98, for a total value of $2,726,748.12. Following the sale, the director owned 4,638 shares of the company's stock, valued at approximately $287,463.24. The trade was a 90.46% 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, CFO Robyn L. Bradbury sold 5,000 shares of Core & Main stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $64.51, for a total value of $322,550.00. Following the completion of the sale, the chief financial officer directly owned 8,555 shares in the company, valued at approximately $551,883.05. This represents a 36.89% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 422,956 shares of company stock valued at $26,343,241 in the last quarter. 3.53% of the stock is currently owned by corporate insiders.

Institutional Trading of Core & Main

A number of hedge funds and other institutional investors have recently modified their holdings of CNM. Vident Advisory LLC acquired a new stake in shares of Core & Main in the fourth quarter valued at about $215,000. Wealth Enhancement Advisory Services LLC acquired a new position in Core & Main during the fourth quarter worth approximately $201,000. Versant Capital Management Inc increased its position in Core & Main by 1,491.8% during the first quarter. Versant Capital Management Inc now owns 1,162 shares of the company's stock worth $56,000 after buying an additional 1,089 shares during the last quarter. GAMMA Investing LLC increased its position in Core & Main by 8,795.7% during the first quarter. GAMMA Investing LLC now owns 197,395 shares of the company's stock worth $9,536,000 after buying an additional 195,176 shares during the last quarter. Finally, Parallel Advisors LLC increased its position in Core & Main by 447.1% during the first quarter. Parallel Advisors LLC now owns 651 shares of the company's stock worth $31,000 after buying an additional 532 shares during the last quarter. Institutional investors and hedge funds 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.

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