Core & Main (NYSE:CNM) Hits New 12-Month High - Should You Buy?

Core & Main, Inc. (NYSE:CNM - Get Free Report) reached a new 52-week high during trading on Thursday . The company traded as high as $61.94 and last traded at $61.86, with a volume of 1532511 shares changing hands. The stock had previously closed at $61.29.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. JPMorgan Chase & Co. lifted their price target 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. Wells Fargo & Company increased their price objective on shares of Core & Main from $60.00 to $65.00 and gave the stock an "overweight" rating in a research report on Tuesday, June 10th. Royal Bank Of Canada boosted their target price on Core & Main from $60.00 to $67.00 and gave the company an "outperform" rating in a research report on Tuesday, June 10th. Deutsche Bank Aktiengesellschaft began coverage on Core & Main in a research report on Tuesday, April 1st. They set a "buy" rating and a $60.00 price target for the company. Finally, Citigroup lifted their price objective on Core & Main from $56.00 to $62.00 and gave the company a "neutral" rating in a research note on Tuesday, June 10th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $59.55.

Core & Main Stock Up 0.8%

The firm has a market cap of $12.29 billion, a PE ratio of 28.99, a price-to-earnings-growth ratio of 1.83 and a beta of 1.04. 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 business has a 50-day moving average price of $55.66 and a two-hundred day moving average price of $52.66.

Core & Main (NYSE:CNM - Get Free Report) last posted its quarterly earnings results on Tuesday, June 10th. The company reported $0.52 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.52. The company had revenue of $1.91 billion for 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%. Core & Main's revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.49 EPS. On average, equities research analysts expect that Core & Main, Inc. will post 2.16 EPS for the current year.

Insider Transactions at Core & Main

In other Core & Main news, insider Laura K. Schneider sold 45,695 shares of the business's stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $56.25, for a total transaction of $2,570,343.75. Following the completion of the transaction, the insider owned 12,873 shares in the company, valued at $724,106.25. The trade was a 78.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP John R. Schaller sold 9,794 shares of the firm'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 completion of the sale, the executive vice president owned 19,689 shares in the company, valued at $1,082,895. The trade was a 33.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 140,703 shares of company stock valued at $8,164,310 over the last quarter. 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 the business. Voya Investment Management LLC raised its position in shares of Core & Main by 21.3% during the 1st quarter. Voya Investment Management LLC now owns 269,493 shares of the company's stock worth $13,019,000 after acquiring an additional 47,398 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Core & Main by 8.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 854,095 shares of the company's stock worth $41,261,000 after purchasing an additional 67,351 shares in the last quarter. Sciencast Management LP lifted its position in shares of Core & Main by 130.0% during the 1st quarter. Sciencast Management LP now owns 48,826 shares of the company's stock worth $2,359,000 after buying an additional 27,599 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Core & Main by 23.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 291,988 shares of the company's stock worth $14,106,000 after buying an additional 54,854 shares during the last quarter. Finally, UniSuper Management Pty Ltd acquired a new position in shares of Core & Main in the 1st quarter valued at $1,522,000. 94.19% of the stock is owned by hedge funds and other 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.