Core & Main (NYSE:CNM) Price Target Raised to $68.00 at Loop Capital

Core & Main (NYSE:CNM - Free Report) had its target price raised by Loop Capital from $63.00 to $68.00 in a research note issued to investors on Wednesday,Benzinga reports. Loop Capital currently has a buy rating on the stock.

CNM has been the topic of a number of other research reports. Robert W. Baird reduced their price objective on Core & Main from $66.00 to $65.00 and set an "outperform" rating on the stock in a research note on Wednesday, March 26th. JPMorgan Chase & Co. boosted their price objective on Core & Main from $54.00 to $56.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 27th. Citigroup boosted their price objective on Core & Main from $56.00 to $62.00 and gave the stock a "neutral" rating in a research note on Tuesday. Royal Bank of Canada boosted their price objective on Core & Main from $60.00 to $67.00 and gave the stock an "outperform" rating in a research note on Tuesday. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Core & Main in a research report on Tuesday, April 1st. They set a "buy" rating and a $60.00 target price on the stock. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $59.55.

Core & Main Trading Down 1.2%

Core & Main stock traded down $0.67 during midday trading on Wednesday, reaching $56.05. The stock had a trading volume of 1,750,816 shares, compared to its average volume of 2,293,860. Core & Main has a twelve month low of $37.22 and a twelve month high of $60.38. The stock has a market capitalization of $11.09 billion, a PE ratio of 26.31, a price-to-earnings-growth ratio of 2.61 and a beta of 1.02. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.28 and a current ratio of 2.14. The stock's 50-day simple moving average is $52.95 and its 200 day simple moving average is $52.04.

Core & Main (NYSE:CNM - Get Free Report) last issued its quarterly earnings data on Tuesday, June 10th. The company reported $0.52 EPS for the quarter, hitting analysts' consensus estimates of $0.52. The company had revenue of $1.91 billion for the quarter, compared to analysts' expectations of $1.84 billion. Core & Main had a return on equity of 24.71% and a net margin of 5.71%. The firm's quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.49 earnings per share. Analysts expect that Core & Main will post 2.16 EPS for the current year.

Insider Activity at Core & Main

In related news, CAO John Weldon Stephens sold 10,214 shares of the business's 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 completion of the sale, the chief accounting officer now directly owns 4,120 shares of the company's stock, valued at $218,442.40. The trade was a 71.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Mark G. Whittenburg sold 900 shares of the company's stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $60.03, for a total value of $54,027.00. Following the transaction, the general counsel now directly owns 9,691 shares of the company's stock, valued at $581,750.73. This trade represents a 8.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 157,666 shares of company stock valued at $8,770,352 over the last three months. 3.53% of the stock is owned by insiders.

Hedge Funds Weigh In On Core & Main

Institutional investors have recently made changes to their positions in the stock. Parallel Advisors LLC grew 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 valued at $31,000 after purchasing an additional 532 shares during the last quarter. Cubist Systematic Strategies LLC grew 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 valued at $35,000 after purchasing an additional 524 shares during the last quarter. Rossby Financial LCC bought a new position in shares of Core & Main during the first quarter valued at approximately $37,000. CWM LLC grew 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 valued at $41,000 after purchasing an additional 213 shares during the last quarter. Finally, Versant Capital Management Inc grew 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 valued at $56,000 after purchasing an additional 1,089 shares during the last quarter. 94.19% of the stock is owned by institutional investors.

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.