Analysts Set Core & Main, Inc. (NYSE:CNM) PT at $59.55

Core & Main, Inc. (NYSE:CNM - Get Free Report) has been assigned an average rating of "Moderate Buy" from the eleven brokerages that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and seven have given a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $59.55.

Several analysts have issued reports on the stock. Loop Capital increased their price objective on shares of Core & Main from $63.00 to $68.00 and gave the company a "buy" rating in a research report on Wednesday, June 11th. Wells Fargo & Company raised their price target on shares of Core & Main from $60.00 to $65.00 and gave the company an "overweight" rating in a report on Tuesday, June 10th. Deutsche Bank Aktiengesellschaft started coverage on shares of Core & Main in a research note on Tuesday, April 1st. They set a "buy" rating and a $60.00 price target on the stock. JPMorgan Chase & Co. upped their price objective on shares of Core & Main from $54.00 to $56.00 and gave the company an "overweight" rating in a research report on Tuesday, May 27th. Finally, Robert W. Baird reduced their price objective on shares of Core & Main from $66.00 to $65.00 and set an "outperform" rating on the stock in a research note on Wednesday, March 26th.

Core & Main Stock Up 1.8%

Core & Main stock traded up $1.02 during trading on Tuesday, reaching $57.17. 1,544,390 shares of the company's stock were exchanged, compared to its average volume of 2,288,816. Core & Main has a 52-week low of $37.22 and a 52-week high of $60.38. The firm has a market cap of $11.27 billion, a price-to-earnings ratio of 26.53, a PEG ratio of 1.66 and a beta of 1.02. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.10 and a current ratio of 1.96. The company's 50-day moving average is $53.60 and its two-hundred day moving average is $52.23.

Core & Main (NYSE:CNM - Get Free Report) last issued its 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 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 the consensus estimate of $1.84 billion. During the same quarter in the prior year, the business earned $0.49 earnings per share. The company's revenue was up 9.8% compared to the same quarter last year. On average, analysts predict that Core & Main will post 2.16 earnings per share for the current year.

Insiders Place Their Bets

In other Core & Main news, CAO John Weldon Stephens sold 41,963 shares of Core & Main stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $50.48, for a total value of $2,118,292.24. Following the completion of the transaction, the chief accounting officer now directly owns 4,120 shares in the company, valued at $207,977.60. The trade was a 91.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel Mark G. Whittenburg sold 49,100 shares of the stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $60.03, for a total value of $2,947,473.00. Following the sale, the general counsel now owns 9,691 shares in the company, valued at $581,750.73. The trade was a 83.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 157,666 shares of company stock valued at $8,770,352. Company insiders own 3.53% of the company's stock.

Institutional Investors Weigh In On Core & Main

A number of hedge funds have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. increased its holdings in shares of Core & Main by 7.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,666,765 shares of the company's stock worth $84,855,000 after acquiring an additional 122,240 shares during the period. Impax Asset Management Group plc grew its position in Core & Main by 70.4% in the 4th quarter. Impax Asset Management Group plc now owns 3,430,787 shares of the company's stock worth $174,661,000 after purchasing an additional 1,416,907 shares during the last quarter. Federated Hermes Inc. increased its stake in shares of Core & Main by 4,757.9% in the fourth 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 during the period. Vanguard Group Inc. raised its holdings in shares of Core & Main by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 18,219,997 shares of the company's stock valued at $927,580,000 after buying an additional 221,970 shares during the last quarter. Finally, Asset Management One Co. Ltd. raised its holdings in shares of Core & Main by 13.1% during the fourth quarter. Asset Management One Co. Ltd. now owns 65,284 shares of the company's stock valued at $3,331,000 after buying an additional 7,565 shares during the last quarter. 94.19% of the stock is currently owned by institutional investors.

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.