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

Key Points

• The analyst consensus is a “Moderate Buy” from 12 brokerages (7 buy, 5 hold) with an average 12‑month price target of $61.64, above the recent share price around $49.72.
• Analyst targets cluster roughly in the $60–$65 range, with recent revisions including Wells Fargo raising its target to $65 while Deutsche Bank and Barclays trimmed theirs to $62.
• Insider activity shows the CFO sold 5,000 shares under a Rule 10b5‑1 plan at $52.54 (reducing her stake ~28.6%) while a director bought 1,972 shares at $50.70 (increasing his stake ~39.7%); insiders own 3.53% and institutions hold 94.19% of the stock.

Shares of Core & Main, Inc. (NYSE:CNM - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the twelve brokerages that are presently covering the company, MarketBeat Ratings reports. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $61.6364.

A number of research analysts recently issued reports on the company. Royal Bank Of Canada restated an "outperform" rating and set a $63.00 price objective on shares of Core & Main in a research report on Friday, January 9th. Deutsche Bank Aktiengesellschaft dropped their target price on Core & Main from $65.00 to $62.00 and set a "buy" rating on the stock in a research report on Wednesday, March 25th. Citigroup boosted their price target on shares of Core & Main from $56.00 to $60.00 and gave the company a "neutral" rating in a report on Thursday, January 8th. Wells Fargo & Company upped their price target on shares of Core & Main from $57.00 to $65.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 14th. Finally, Barclays dropped 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.

Insider Buying and Selling

In related news, CFO Robyn L. Bradbury sold 5,000 shares of the firm's stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $52.54, for a total value of $262,700.00. Following the sale, the chief financial officer directly owned 12,500 shares in the company, valued at $656,750. This trade represents a 28.57% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director James D. Hope bought 1,972 shares of the business's stock in a transaction on Tuesday, April 7th. The shares were acquired at an average cost of $50.70 per share, for a total transaction of $99,980.40. Following the purchase, the director directly owned 6,939 shares in the company, valued at $351,807.30. This represents a 39.70% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 3.53% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of CNM. EverSource Wealth Advisors LLC lifted its stake in shares of Core & Main by 145.4% in the 2nd 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. TD Waterhouse Canada Inc. acquired a new position in shares of Core & Main during the 4th quarter valued at $26,000. Whittier Trust Co. bought a new stake in shares of Core & Main in the 4th quarter worth $28,000. Cubist Systematic Strategies LLC raised its stake in shares of Core & Main by 262.0% in the 1st quarter. Cubist Systematic Strategies LLC now owns 724 shares of the company's stock worth $35,000 after buying an additional 524 shares in the last quarter. Finally, Quarry LP acquired a new stake in shares of Core & Main in the fourth quarter valued at $38,000. 94.19% of the stock is owned by institutional investors and hedge funds.

Core & Main Price Performance

Shares of NYSE:CNM opened at $49.72 on Friday. The company has a market cap of $9.68 billion, a PE ratio of 21.52, a P/E/G ratio of 1.83 and a beta of 0.93. Core & Main has a fifty-two week low of $43.96 and a fifty-two week high of $67.18. The firm has a 50-day simple moving average of $50.47 and a 200 day simple moving average of $52.36. The company has a quick ratio of 1.51, a current ratio of 2.63 and a debt-to-equity ratio of 1.02.

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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