Wells Fargo & Company Issues Positive Forecast for Core & Main (NYSE:CNM) Stock Price

Core & Main (NYSE:CNM - Free Report) had its price objective boosted by Wells Fargo & Company from $65.00 to $70.00 in a research report report published on Tuesday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

Other research analysts have also recently issued research reports about the stock. Robert W. Baird dropped their price objective on shares of Core & Main from $66.00 to $65.00 and set an "outperform" rating for the company in a research report on Wednesday, March 26th. Deutsche Bank Aktiengesellschaft started coverage on shares of Core & Main in a report on Tuesday, April 1st. They issued a "buy" rating and a $60.00 price target for the company. JPMorgan Chase & Co. upped their target price on shares of 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 upped their target price on shares of Core & Main from $60.00 to $67.00 and gave the stock an "outperform" rating in a research note on Tuesday, June 10th. Finally, Citigroup boosted their price target on shares of Core & Main from $56.00 to $62.00 and gave the stock a "neutral" rating in a research report on Tuesday, June 10th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Core & Main has a consensus rating of "Moderate Buy" and an average price target of $60.00.

Core & Main Price Performance

NYSE CNM traded down $0.60 during trading on Tuesday, reaching $61.67. 227,865 shares of the company traded hands, compared to its average volume of 2,281,598. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.10 and a current ratio of 1.96. The stock's 50 day moving average price is $56.60 and its two-hundred day moving average price is $53.06. The company has a market cap of $12.16 billion, a price-to-earnings ratio of 28.72, a P/E/G ratio of 1.84 and a beta of 1.04. Core & Main has a 1-year low of $37.22 and a 1-year high of $63.25.

Core & Main (NYSE:CNM - Get Free Report) last posted its 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. Core & Main had a net margin of 5.47% and a return on equity of 23.55%. The company had revenue of $1.91 billion during the quarter, compared to analysts' expectations of $1.84 billion. During the same quarter in the previous year, the company posted $0.49 earnings per share. Core & Main's quarterly revenue was up 9.8% compared to the same quarter last year. As a group, analysts anticipate that Core & Main will post 2.16 EPS for the current year.

Insider Buying and Selling

In other news, EVP John R. Schaller sold 9,794 shares of the company's stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $55.00, for a total value of $538,670.00. Following the sale, the executive vice president directly owned 19,689 shares of the company's stock, valued at approximately $1,082,895. This represents a 33.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Robyn L. Bradbury sold 25,000 shares of the company's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $60.49, for a total transaction of $1,512,250.00. Following the completion of the sale, the chief financial officer directly owned 8,555 shares in the company, valued at approximately $517,491.95. The trade was a 74.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 265,703 shares of company stock worth $15,931,870 in the last 90 days. 3.53% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CNM. Parallel Advisors LLC raised its holdings in 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 acquiring an additional 532 shares during the period. Cubist Systematic Strategies LLC raised its holdings in 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 acquiring an additional 524 shares during the period. Rossby Financial LCC bought a new position in Core & Main in the 1st quarter valued at about $37,000. CWM LLC raised its holdings in 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 acquiring an additional 213 shares during the period. Finally, Versant Capital Management Inc raised its holdings in 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 acquiring an additional 1,089 shares during the period. 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.