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

Key Points

• Core & Main, Inc. has received an average recommendation of "Moderate Buy" from twelve brokerages, with a price target of approximately $60.64.
• CEO Mark R. Witkowski sold 100,000 shares at an average price of $64.08, representing a 73.61% decrease in his ownership of the stock.
• In its latest earnings report, Core & Main reported a revenue of $2.09 billion for the quarter, beating earnings estimates by 8 cents with an EPS of $0.87.

Shares of Core & Main, Inc. (NYSE:CNM - Get Free Report) have received an average recommendation of "Moderate Buy" from the twelve brokerages that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and seven have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $60.6364.

A number of research analysts have recently issued reports on CNM shares. JPMorgan Chase & Co. lifted their price target on Core & Main from $54.00 to $58.00 and gave the company an "overweight" rating in a report on Wednesday, October 15th. Barclays cut their price target on Core & Main from $69.00 to $65.00 and set an "overweight" rating on the stock in a report on Wednesday, September 10th. Zacks Research downgraded Core & Main from a "hold" rating to a "strong sell" rating in a research note on Monday, September 29th. The Goldman Sachs Group dropped their target price on Core & Main from $68.00 to $60.00 and set a "neutral" rating on the stock in a research note on Friday, September 12th. Finally, Citigroup dropped their target price 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.

Insider Buying and Selling at Core & Main

In related news, CEO Mark R. Witkowski sold 100,000 shares of the business's stock in a transaction on Monday, August 18th. The stock was sold at an average price of $64.08, for a total transaction of $6,408,000.00. Following the transaction, the chief executive officer directly owned 35,847 shares in the company, valued at $2,297,075.76. The trade was a 73.61% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Robyn L. Bradbury sold 5,000 shares of the business's stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of $64.51, for a total value of $322,550.00. Following the transaction, the chief financial officer owned 8,555 shares in the company, valued at approximately $551,883.05. This trade represents a 36.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.53% of the stock is owned by insiders.

Institutional Trading of Core & Main

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Enhancing Capital LLC increased its position in shares of Core & Main by 0.6% during the first quarter. Enhancing Capital LLC now owns 31,846 shares of the company's stock worth $1,538,000 after purchasing an additional 196 shares in the last quarter. Bfsg LLC increased its position in shares of Core & Main by 56.4% during the second quarter. Bfsg LLC now owns 560 shares of the company's stock worth $34,000 after purchasing an additional 202 shares in the last quarter. CWM LLC increased its position in shares of Core & Main by 34.0% during the first quarter. CWM LLC now owns 839 shares of the company's stock worth $41,000 after purchasing an additional 213 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its position in shares of Core & Main by 3.3% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 7,106 shares of the company's stock worth $343,000 after purchasing an additional 229 shares in the last quarter. Finally, Wedmont Private Capital increased its position in shares of Core & Main by 5.6% during the third quarter. Wedmont Private Capital now owns 4,733 shares of the company's stock worth $241,000 after purchasing an additional 251 shares in the last quarter. Institutional investors and hedge funds own 94.19% of the company's stock.

Core & Main Trading Up 0.4%

Shares of NYSE:CNM opened at $52.17 on Monday. Core & Main has a 12-month low of $41.64 and a 12-month high of $67.18. The business's fifty day simple moving average is $56.89 and its 200-day simple moving average is $56.60. The company has a market capitalization of $10.30 billion, a PE ratio of 23.29, a P/E/G ratio of 2.05 and a beta of 0.98. The company has a current ratio of 2.25, a quick ratio of 1.30 and a debt-to-equity ratio of 1.14.

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

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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