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 on Thursday . The company traded as high as $61.94 and last traded at $61.86, with a volume of 1532511 shares. The stock had previously closed at $61.29.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on CNM shares. Robert W. Baird lowered their price target on Core & Main from $66.00 to $65.00 and set an "outperform" rating for the company in a report on Wednesday, March 26th. Wells Fargo & Company increased their price target on Core & Main from $60.00 to $65.00 and gave the stock an "overweight" rating in a report on Tuesday, June 10th. Citigroup increased their price target on Core & Main from $56.00 to $62.00 and gave the stock a "neutral" rating in a report on Tuesday, June 10th. Loop Capital increased their price target on Core & Main from $63.00 to $68.00 and gave the stock a "buy" rating in a report on Wednesday, June 11th. Finally, JPMorgan Chase & Co. increased their price target on Core & Main from $54.00 to $56.00 and gave the stock an "overweight" rating in a report on Tuesday, May 27th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $59.55.

Core & Main Stock Up 0.8%

The business has a fifty day moving average of $55.86 and a 200 day moving average of $52.77. The company has a market capitalization of $12.29 billion, a PE ratio of 28.99, a PEG ratio of 1.84 and a beta of 1.04. The company has a current ratio of 1.96, a quick ratio of 1.10 and a debt-to-equity ratio of 1.23.

Core & Main (NYSE:CNM - Get Free Report) last announced its earnings results on Tuesday, June 10th. The company reported $0.52 EPS for the quarter, meeting analysts' consensus estimates 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 analysts' expectations of $1.84 billion. During the same period last year, the business posted $0.49 EPS. Core & Main's revenue for the quarter was up 9.8% on a year-over-year basis. Equities research analysts anticipate that Core & Main, Inc. will post 2.16 EPS for the current year.

Insider Buying and Selling

In other Core & Main news, CAO John Weldon Stephens sold 10,214 shares of the stock in a transaction dated Monday, April 28th. The stock was sold at an average price of $53.02, for a total value of $541,546.28. Following the sale, the chief accounting officer owned 4,120 shares of the company's stock, valued at $218,442.40. This trade represents a 71.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Mark G. Whittenburg sold 49,100 shares of the stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $60.03, for a total value of $2,947,473.00. Following the completion of the sale, the general counsel directly owned 9,691 shares in the company, valued at $581,750.73. This represents a 83.52% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 140,703 shares of company stock worth $8,164,310 over the last ninety days. Company insiders own 3.53% of the company's stock.

Institutional Investors Weigh In On Core & Main

A number of hedge funds have recently bought and sold shares of CNM. US Bancorp DE raised its position in Core & Main by 12.3% in the 4th quarter. US Bancorp DE now owns 1,795 shares of the company's stock valued at $91,000 after purchasing an additional 197 shares in the last quarter. Jones Financial Companies Lllp acquired a new stake in shares of Core & Main during the 4th quarter worth about $122,000. Charles Schwab Investment Management Inc. raised its position in shares of Core & Main by 7.9% during 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 in the last quarter. Aigen Investment Management LP acquired a new stake in shares of Core & Main during the 4th quarter worth about $222,000. Finally, Arizona State Retirement System raised its position in shares of Core & Main by 0.6% during the 4th quarter. Arizona State Retirement System now owns 55,910 shares of the company's stock worth $2,846,000 after acquiring an additional 360 shares in the last quarter. Institutional investors and hedge funds own 94.19% of the company's stock.

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.