JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Core & Main (NYSE:CNM) Stock

Core & Main (NYSE:CNM - Get Free Report) had its target price raised by analysts at JPMorgan Chase & Co. from $54.00 to $56.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price target points to a potential upside of 2.57% from the stock's current price.

A number of other research analysts have also issued reports on the stock. Wells Fargo & Company upped their price target on shares of Core & Main from $62.00 to $65.00 and gave the company an "overweight" rating in a research note on Tuesday, February 4th. Royal Bank of Canada cut their price target on shares of Core & Main from $62.00 to $60.00 and set an "outperform" rating for the company in a report on Wednesday, March 26th. 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, Robert W. Baird dropped their price objective on shares of Core & Main from $66.00 to $65.00 and set an "outperform" rating on the stock in a research report on Wednesday, March 26th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat, Core & Main presently has an average rating of "Moderate Buy" and an average target price of $57.91.

Core & Main Stock Performance

CNM traded down $0.08 during trading on Tuesday, hitting $54.60. The company's stock had a trading volume of 430,035 shares, compared to its average volume of 2,320,749. The company has a quick ratio of 1.28, a current ratio of 2.14 and a debt-to-equity ratio of 1.36. Core & Main has a one year low of $37.22 and a one year high of $58.29. The firm has a market cap of $10.80 billion, a PE ratio of 25.63, a P/E/G ratio of 2.61 and a beta of 1.04. The business's 50 day simple moving average is $50.76 and its 200-day simple moving average is $50.92.

Core & Main (NYSE:CNM - Get Free Report) last announced its quarterly earnings results on Tuesday, March 25th. The company reported $0.33 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.36 by ($0.03). Core & Main had a net margin of 5.71% and a return on equity of 24.71%. The company had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.67 billion. During the same quarter in the prior year, the firm posted $0.34 earnings per share. The business's revenue was up 17.9% on a year-over-year basis. As a group, sell-side analysts predict that Core & Main will post 2.16 EPS for the current fiscal year.

Insider Activity at Core & Main

In other Core & Main news, EVP John R. Schaller sold 21,868 shares of the firm's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $46.82, for a total transaction of $1,023,859.76. Following the completion of the sale, the executive vice president now owns 16,452 shares of the company's stock, valued at $770,282.64. This trade represents a 57.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO John Weldon Stephens sold 10,214 shares of Core & Main stock in a transaction on 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 now directly owns 4,120 shares of the company's stock, valued at $218,442.40. This represents a 71.26% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 74,045 shares of company stock worth $3,683,698 in the last ninety days. 3.53% of the stock is currently owned by insiders.

Institutional Trading of Core & Main

A number of hedge funds have recently made changes to their positions in CNM. Vanguard Group Inc. lifted its position in shares of Core & Main by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 18,219,997 shares of the company's stock valued at $927,580,000 after buying an additional 221,970 shares during the last quarter. FMR LLC lifted its stake in shares of Core & Main by 4.1% in the 4th quarter. FMR LLC now owns 9,055,993 shares of the company's stock valued at $461,041,000 after purchasing an additional 358,909 shares during the period. Invesco Ltd. increased its position in Core & Main by 0.8% during the 4th quarter. Invesco Ltd. now owns 5,926,569 shares of the company's stock valued at $301,722,000 after buying an additional 44,513 shares in the last quarter. Bessemer Group Inc. increased its holdings in shares of Core & Main by 0.5% in the 4th quarter. Bessemer Group Inc. now owns 3,835,182 shares of the company's stock worth $195,250,000 after purchasing an additional 20,756 shares in the last quarter. Finally, Royal London Asset Management Ltd. grew its holdings in shares of Core & Main by 1.3% in the fourth quarter. Royal London Asset Management Ltd. now owns 3,810,739 shares of the company's stock worth $194,005,000 after acquiring an additional 48,833 shares during the period. 94.19% of the stock is owned by institutional investors and hedge funds.

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.