Core & Main (NYSE:CNM) Reaches New 1-Year High - Still a Buy?

Key Points

• Core & Main's stock reached a new **52-week high** of $65.97, indicating strong trading performance with increased investor interest.
• Several analysts have raised their target prices for Core & Main, with **Royal Bank of Canada** setting a target of $67.00, suggesting positive sentiment about the stock's potential growth.
• Recent **insider trading activities** include significant sales by CFO Robyn L. Bradbury and Director Orvin T. Kimbrough, indicating a notable decrease in their positions within the company.

Core & Main, Inc. (NYSE:CNM - Get Free Report)'s stock price reached a new 52-week high during trading on Monday . The company traded as high as $65.97 and last traded at $65.70, with a volume of 419308 shares changing hands. The stock had previously closed at $65.77.

Analyst Ratings Changes

CNM has been the topic of several research analyst reports. JPMorgan Chase & Co. upped their target price on shares of Core & Main from $54.00 to $56.00 and gave the company an "overweight" rating in a research note on Tuesday, May 27th. Citigroup upped their target price on shares of Core & Main from $56.00 to $62.00 and gave the company a "neutral" rating in a research note on Tuesday, June 10th. Royal Bank Of Canada upped their target price on shares of Core & Main from $60.00 to $67.00 and gave the company an "outperform" rating in a research note on Tuesday, June 10th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Core & Main in a research note on Tuesday, April 1st. They set a "buy" rating and a $60.00 target price on the stock. Finally, Loop Capital reiterated a "hold" rating and set a $68.00 price objective on shares of Core & Main in a research report on Monday. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $60.00.

Core & Main Trading Down 0.3%

The firm has a market capitalization of $12.93 billion, a price-to-earnings ratio of 30.51, a P/E/G ratio of 1.94 and a beta of 1.04. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.96 and a quick ratio of 1.10. The firm's 50-day simple moving average is $58.82 and its 200 day simple moving average is $53.97.

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

Insider Buying and Selling

In related news, CFO Robyn L. Bradbury sold 5,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $64.51, for a total value of $322,550.00. Following the completion of the transaction, the chief financial officer directly owned 8,555 shares of the company's stock, valued at approximately $551,883.05. This trade represents a 36.89% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Orvin T. Kimbrough sold 23,962 shares of the firm's stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $61.77, for a total transaction of $1,480,132.74. Following the completion of the transaction, the director directly owned 13,958 shares of the company's stock, valued at approximately $862,185.66. This trade represents a 63.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 428,445 shares of company stock worth $26,045,755 over the last ninety days. Insiders own 3.53% of the company's stock.

Institutional Trading of Core & Main

Hedge funds have recently made changes to their positions in the stock. Parallel Advisors LLC increased its position in shares of Core & Main by 447.1% during the first 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. Bfsg LLC boosted its position in shares of Core & Main by 56.4% in the 2nd 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. Cubist Systematic Strategies LLC grew its holdings in shares of Core & Main by 262.0% during the first 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 last quarter. Rossby Financial LCC purchased a new stake in shares of Core & Main during the first quarter valued at approximately $37,000. Finally, CWM LLC grew its holdings in shares of Core & Main by 34.0% during the first quarter. CWM LLC now owns 839 shares of the company's stock valued at $41,000 after buying an additional 213 shares during the last quarter. 94.19% of the stock is owned by institutional investors.

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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