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

Shares of Core & Main, Inc. (NYSE:CNM - Get Free Report) have earned a consensus rating of "Moderate Buy" from the eleven ratings firms that are presently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $60.00.

Several research analysts have recently commented on the company. Citigroup raised their price objective on Core & Main from $56.00 to $62.00 and gave the stock a "neutral" rating in a research note on Tuesday, June 10th. Wells Fargo & Company raised their price objective on Core & Main from $65.00 to $70.00 and gave the stock an "overweight" rating in a research note on Tuesday. Loop Capital raised their price objective on Core & Main from $63.00 to $68.00 and gave the stock a "buy" rating in a research note on Wednesday, June 11th. JPMorgan Chase & Co. raised their price objective on Core & Main from $54.00 to $56.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 27th. Finally, Royal Bank Of Canada raised their price objective on Core & Main from $60.00 to $67.00 and gave the stock an "outperform" rating in a research note on Tuesday, June 10th.

Insider Activity at Core & Main

In other Core & Main news, EVP John R. Schaller sold 9,794 shares of the firm's stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $55.00, for a total transaction of $538,670.00. Following the completion of the transaction, the executive vice president owned 19,689 shares in the company, valued at $1,082,895. This trade represents a 33.22% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, General Counsel Mark G. Whittenburg sold 49,100 shares of the firm's stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $60.03, for a total value of $2,947,473.00. Following the transaction, the general counsel owned 9,691 shares of the company's stock, valued at $581,750.73. This represents a 83.52% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 265,703 shares of company stock worth $15,931,870 in the last three months. Corporate insiders own 3.53% of the company's stock.

Hedge Funds Weigh In On Core & Main

Institutional investors have recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Core & Main in the 4th quarter valued at approximately $99,734,000. Jennison Associates LLC bought a new stake in shares of Core & Main during the 1st quarter worth approximately $54,742,000. Federated Hermes Inc. raised its position in Core & Main by 4,757.9% during the 4th quarter. Federated Hermes Inc. now owns 1,138,346 shares of the company's stock valued at $57,953,000 after purchasing an additional 1,114,913 shares in the last quarter. Artemis Investment Management LLP raised its position in Core & Main by 109.6% during the 1st quarter. Artemis Investment Management LLP now owns 1,791,935 shares of the company's stock valued at $86,568,000 after purchasing an additional 936,863 shares in the last quarter. Finally, First Trust Advisors LP raised its position in Core & Main by 38.4% during the 4th quarter. First Trust Advisors LP now owns 3,328,182 shares of the company's stock valued at $169,438,000 after purchasing an additional 923,287 shares in the last quarter. Hedge funds and other institutional investors own 94.19% of the company's stock.

Core & Main Stock Down 1.1%

CNM opened at $61.57 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.96 and a debt-to-equity ratio of 1.23. The firm has a 50 day moving average price of $56.75 and a 200-day moving average price of $53.13. Core & Main has a twelve month low of $37.22 and a twelve month high of $63.25. The stock has a market capitalization of $12.14 billion, a price-to-earnings ratio of 28.64, a PEG ratio of 1.84 and a beta of 1.04.

Core & Main (NYSE:CNM - Get Free Report) last released its quarterly earnings results on Tuesday, June 10th. The company reported $0.52 earnings per share for the quarter, hitting the consensus estimate of $0.52. Core & Main had a net margin of 5.47% and a return on equity of 23.55%. The business had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.84 billion. During the same period last year, the firm earned $0.49 earnings per share. The company's quarterly revenue was up 9.8% on a year-over-year basis. Equities research analysts forecast that Core & Main will post 2.16 earnings per share for the current 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.

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