Core & Main (NYSE:CNM) Hits New 52-Week High - Should You Buy?

Core & Main, Inc. (NYSE:CNM - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $58.52 and last traded at $58.18, with a volume of 1385450 shares traded. The stock had previously closed at $53.54.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Wells Fargo & Company boosted their price objective on Core & Main from $62.00 to $65.00 and gave the stock an "overweight" rating in a report on Tuesday, February 4th. Royal Bank of Canada reduced their price objective on Core & Main from $62.00 to $60.00 and set an "outperform" rating for the company in a report on Wednesday, March 26th. Deutsche Bank Aktiengesellschaft started coverage on Core & Main in a report on Tuesday, April 1st. They set a "buy" rating and a $60.00 price objective for the company. Robert W. Baird cut their price target on Core & Main from $66.00 to $65.00 and set an "outperform" rating for the company in a research note on Wednesday, March 26th. Finally, JPMorgan Chase & Co. boosted their price target on Core & Main from $54.00 to $56.00 and gave the company an "overweight" rating in a research note on Tuesday, May 27th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Core & Main has an average rating of "Moderate Buy" and a consensus target price of $57.91.

Core & Main Stock Down 0.5%

The firm has a 50 day simple moving average of $51.24 and a two-hundred day simple moving average of $51.34. The company has a quick ratio of 1.28, a current ratio of 2.14 and a debt-to-equity ratio of 1.36. The stock has a market capitalization of $11.64 billion, a P/E ratio of 27.61, a PEG ratio of 2.61 and a beta of 1.04.

Core & Main (NYSE:CNM - Get Free Report) last released its earnings results on Tuesday, March 25th. The company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.03). The business had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.67 billion. Core & Main had a return on equity of 24.71% and a net margin of 5.71%. The firm's revenue for the quarter was up 17.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.34 earnings per share. On average, equities research analysts expect that Core & Main, Inc. will post 2.16 earnings per share for the current year.

Insider Activity at Core & Main

In other Core & Main news, CAO John Weldon Stephens sold 41,963 shares of the company's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $50.48, for a total transaction of $2,118,292.24. Following the sale, the chief accounting officer now owns 4,120 shares of the company's stock, valued at approximately $207,977.60. This represents a 91.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP John R. Schaller sold 9,794 shares of the company's stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $55.00, for a total transaction of $538,670.00. Following the sale, the executive vice president now directly owns 19,689 shares in the company, valued at $1,082,895. This trade represents a 33.22% decrease in their position. The disclosure for this sale can be found here. Insiders sold 83,839 shares of company stock worth $4,222,368 over the last three months. Company insiders own 3.53% of the company's stock.

Institutional Trading of Core & Main

A number of institutional investors have recently bought and sold shares of CNM. Parallel Advisors LLC grew its stake in shares of Core & Main by 447.1% in the 1st quarter. Parallel Advisors LLC now owns 651 shares of the company's stock valued at $31,000 after buying an additional 532 shares during the period. Cubist Systematic Strategies LLC grew 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 valued at $35,000 after buying an additional 524 shares during the period. Rossby Financial LCC acquired a new stake in shares of Core & Main in the 1st quarter valued at about $37,000. CWM LLC grew its stake in shares of Core & Main by 34.0% in the 1st quarter. CWM LLC now owns 839 shares of the company's stock valued at $41,000 after buying an additional 213 shares during the period. Finally, Versant Capital Management Inc grew its stake in shares of Core & Main by 1,491.8% in the 1st quarter. Versant Capital Management Inc now owns 1,162 shares of the company's stock valued at $56,000 after buying an additional 1,089 shares during the period. Institutional investors 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.