Core & Main (NYSE:CNM) Hits New 1-Year High - Time to Buy?

Core & Main, Inc. (NYSE:CNM - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $60.40 and last traded at $60.31, with a volume of 3028753 shares trading hands. The stock had previously closed at $59.30.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on CNM shares. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Core & Main in a research note on Tuesday, April 1st. They issued a "buy" rating and a $60.00 price objective on the stock. Wells Fargo & Company upped their price target on Core & Main from $60.00 to $65.00 and gave the company an "overweight" rating in a report on Tuesday, June 10th. 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. Royal Bank Of Canada lifted their target price on Core & Main from $60.00 to $67.00 and gave the stock an "outperform" rating in a report on Tuesday, June 10th. Finally, Citigroup upped their target price on Core & Main from $56.00 to $62.00 and gave the company a "neutral" rating in a report on Tuesday, June 10th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $59.55.

Core & Main Trading Down 0.2%

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 market cap of $11.88 billion, a price-to-earnings ratio of 28.02, a PEG ratio of 1.78 and a beta of 1.02. The company has a 50-day moving average price of $55.00 and a 200 day moving average price of $52.47.

Core & Main (NYSE:CNM - Get Free Report) last announced its quarterly earnings data on Tuesday, June 10th. The company reported $0.52 EPS for the quarter, hitting analysts' consensus estimates of $0.52. The firm had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.84 billion. Core & Main had a return on equity of 23.55% and a net margin of 5.47%. The business's quarterly revenue was up 9.8% compared to the same quarter last year. During the same period last year, the company posted $0.49 EPS. As a group, research analysts anticipate that Core & Main, Inc. will post 2.16 earnings per share for the current fiscal year.

Insider Activity at Core & Main

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

Institutional Inflows and Outflows

Several hedge funds 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 in the last quarter. Cubist Systematic Strategies LLC lifted its stake in Core & Main by 262.0% in the first quarter. Cubist Systematic Strategies LLC now owns 724 shares of the company's stock valued at $35,000 after acquiring an additional 524 shares during the last quarter. Rossby Financial LCC bought a new stake in Core & Main in the first quarter worth approximately $37,000. CWM LLC increased its stake in shares of Core & Main by 34.0% during the 1st quarter. CWM LLC now owns 839 shares of the company's stock worth $41,000 after purchasing an additional 213 shares during the last quarter. Finally, Versant Capital Management Inc raised its holdings in shares of Core & Main by 1,491.8% during the 1st quarter. Versant Capital Management Inc now owns 1,162 shares of the company's stock valued at $56,000 after purchasing an additional 1,089 shares in the last quarter. 94.19% of the stock is owned by institutional investors and hedge funds.

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.