Core & Main (NYSE:CNM) Now Covered by UBS Group

Key Points

• UBS Group has initiated coverage on Core & Main (NYSE:CNM) with a "buy" rating for the stock, indicating positive investor sentiment.
• Recent price target adjustments by research firms have lowered expectations, with targets ranging from $54.00 to $68.00, while the consensus rating remains at "Moderate Buy".
• Core & Main reported earnings of $0.87 per share in its latest quarter, surpassing estimates, but revenue slightly missed expectations at $2.09 billion.

Research analysts at UBS Group started coverage on shares of Core & Main (NYSE:CNM - Get Free Report) in a research report issued to clients and investors on Monday, Marketbeat.com reports. The brokerage set a "buy" rating on the stock.

CNM has been the topic of several other research reports. Royal Bank Of Canada dropped their price objective on shares of Core & Main from $67.00 to $62.00 and set an "outperform" rating on the stock in a report on Wednesday, September 10th. Wells Fargo & Company cut their target price on Core & Main from $70.00 to $58.00 and set an "overweight" rating for the company in a research note on Wednesday, September 10th. Barclays cut their target price on Core & Main from $69.00 to $65.00 and set an "overweight" rating for the company in a research note on Wednesday, September 10th. Citigroup cut their target price on Core & Main from $62.00 to $54.00 and set a "neutral" rating for the company in a research note on Wednesday, September 10th. Finally, Loop Capital restated a "hold" rating and issued a $68.00 target price on shares of Core & Main in a research note on Monday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $60.09.

Core & Main Stock Up 0.4%

Shares of Core & Main stock opened at $53.85 on Monday. Core & Main has a 12-month low of $41.60 and a 12-month high of $67.18. The stock has a market capitalization of $10.63 billion, a P/E ratio of 24.04, a PEG ratio of 2.10 and a beta of 1.04. The stock has a 50 day moving average price of $60.22 and a two-hundred day moving average price of $56.30. The company has a quick ratio of 1.30, a current ratio of 2.25 and a debt-to-equity ratio of 1.14.

Core & Main (NYSE:CNM - Get Free Report) last posted its quarterly earnings data on Tuesday, September 9th. The company reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.08. Core & Main had a return on equity of 25.44% and a net margin of 5.57%.The company had revenue of $2.09 billion during the quarter, compared to analysts' expectations of $2.12 billion. During the same period in the prior year, the business earned $0.61 earnings per share. Core & Main's revenue for the quarter was up 6.6% compared to the same quarter last year. Core & Main has set its FY 2025 guidance at EPS. Equities analysts expect that Core & Main will post 2.16 earnings per share for the current year.

Insider Activity

In other Core & Main news, CFO Robyn L. Bradbury sold 5,000 shares of the stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of $64.51, for a total transaction of $322,550.00. Following the completion of the transaction, the chief financial officer directly owned 8,555 shares in the company, valued at $551,883.05. This represents a 36.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Stephen O. Leclair sold 80,028 shares of the stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $62.27, for a total value of $4,983,343.56. Following the transaction, the insider owned 70,736 shares of the company's stock, valued at $4,404,730.72. This represents a 53.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 397,956 shares of company stock valued at $24,830,991. 3.53% of the stock is owned by company insiders.

Institutional Investors Weigh In On Core & Main

A number of hedge funds have recently modified their holdings of CNM. Cullen Capital Management LLC raised its position in Core & Main by 14.0% in the 2nd quarter. Cullen Capital Management LLC now owns 12,494 shares of the company's stock valued at $754,000 after buying an additional 1,530 shares during the last quarter. Squarepoint Ops LLC bought a new position in shares of Core & Main during the 2nd quarter worth approximately $3,600,000. Thrivent Financial for Lutherans boosted its stake in Core & Main by 42.4% in the 2nd quarter. Thrivent Financial for Lutherans now owns 208,499 shares of the company's stock valued at $12,583,000 after purchasing an additional 62,096 shares during the period. State of Wyoming bought a new stake in shares of Core & Main during the 2nd quarter valued at $190,000. Finally, Captrust Financial Advisors lifted its position in shares of Core & Main by 4.1% during the 2nd quarter. Captrust Financial Advisors now owns 63,227 shares of the company's stock valued at $3,816,000 after acquiring an additional 2,509 shares during the period. Institutional investors and hedge funds own 94.19% of the company's stock.

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.