Core & Main (NYSE:CNM) Price Target Raised to $70.00

Core & Main (NYSE:CNM - Free Report) had its target price lifted by Wells Fargo & Company from $65.00 to $70.00 in a research note issued to investors on Tuesday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

Other equities analysts also recently issued reports about the stock. Citigroup upped their price target on shares of Core & Main from $56.00 to $62.00 and gave the company a "neutral" rating in a report on Tuesday, June 10th. JPMorgan Chase & Co. upped their price target on shares of Core & Main from $54.00 to $56.00 and gave the company an "overweight" rating in a report on Tuesday, May 27th. Royal Bank Of Canada upped their price target on shares of Core & Main from $60.00 to $67.00 and gave the company an "outperform" rating in a report on Tuesday, June 10th. Robert W. Baird dropped their target price on shares of Core & Main from $66.00 to $65.00 and set an "outperform" rating on the stock in a research note on Wednesday, March 26th. Finally, Loop Capital upped their target price on shares of Core & Main from $63.00 to $68.00 and gave the stock a "buy" rating in a research note on Wednesday, June 11th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $60.00.

Core & Main Price Performance

Shares of NYSE CNM traded up $0.02 during mid-day trading on Tuesday, hitting $62.27. 2,529,834 shares of the company's stock traded hands, compared to its average volume of 2,286,207. The company's 50-day moving average is $56.41 and its two-hundred day moving average is $52.98. 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 company has a market capitalization of $12.28 billion, a P/E ratio of 28.96, a PEG 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 announced 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 firm had revenue of $1.91 billion for the quarter, compared to analysts' expectations of $1.84 billion. Core & Main had a net margin of 5.47% and a return on equity of 23.55%. The business's revenue was up 9.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.49 EPS. On average, equities analysts anticipate that Core & Main will post 2.16 EPS for the current fiscal year.

Insiders Place Their Bets

In other Core & Main news, insider Laura K. Schneider sold 45,695 shares of the firm's stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $56.25, for a total value of $2,570,343.75. Following the completion of the transaction, the insider owned 12,873 shares of the company's stock, valued at approximately $724,106.25. This trade represents a 78.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO John Weldon Stephens sold 10,214 shares of the firm's stock in a transaction on Monday, April 28th. The stock was sold at an average price of $53.02, for a total transaction of $541,546.28. Following the completion of the transaction, the chief accounting officer directly owned 4,120 shares of the company's stock, valued at approximately $218,442.40. This represents a 71.26% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 265,703 shares of company stock valued at $15,931,870. Corporate insiders own 3.53% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in CNM. Parallel Advisors LLC raised its holdings in shares of Core & Main by 447.1% during the first quarter. Parallel Advisors LLC now owns 651 shares of the company's stock worth $31,000 after purchasing an additional 532 shares during the last quarter. Cubist Systematic Strategies LLC raised 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 worth $35,000 after purchasing an additional 524 shares during the last quarter. Rossby Financial LCC purchased a new position in shares of Core & Main during the first quarter worth $37,000. CWM LLC raised 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 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 first quarter. Versant Capital Management Inc now owns 1,162 shares of the company's stock worth $56,000 after purchasing an additional 1,089 shares during the last quarter. Hedge funds and other institutional investors 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.