Brokerages Set Core & Main, Inc. (NYSE:CNM) Target Price at $57.60

Shares of Core & Main, Inc. (NYSE:CNM) have been given an average rating of “Moderate Buy” by the ten research firms that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and six have given a buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $57.60.

Several analysts have commented on the stock. Loop Capital increased their price target on shares of Core & Main from $52.00 to $63.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Truist Financial increased their price target on shares of Core & Main from $38.00 to $56.00 and gave the company a “hold” rating in a research report on Wednesday, December 4th. Robert W. Baird increased their price target on shares of Core & Main from $60.00 to $66.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $62.00 price objective (up from $53.00) on shares of Core & Main in a research report on Wednesday, December 4th. Finally, Wells Fargo & Company increased their price objective on shares of Core & Main from $62.00 to $65.00 and gave the company an “overweight” rating in a research report on Tuesday, February 4th.

Core & Main Stock Performance

CNM stock opened at $47.65 on Friday. The firm has a market cap of $9.47 billion, a price-to-earnings ratio of 22.37, a PEG ratio of 2.61 and a beta of 1.05. The firm has a 50-day simple moving average of $52.60 and a two-hundred day simple moving average of $48.49. Core & Main has a one year low of $37.22 and a one year high of $62.15. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.28 and a current ratio of 2.14.

Insider Buying and Selling

In related news, General Counsel Mark G. Whittenburg sold 50,000 shares of the stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $50.49, for a total value of $2,524,500.00. Following the transaction, the general counsel now owns 7,667 shares in the company, valued at approximately $387,106.83. This represents a 86.70 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP John R. Schaller sold 60,452 shares of the stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $50.57, for a total transaction of $3,057,057.64. Following the completion of the transaction, the executive vice president now owns 17,898 shares in the company, valued at approximately $905,101.86. This trade represents a 77.16 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 184,294 shares of company stock worth $9,383,685. 3.49% of the stock is owned by company insiders.

Hedge Funds Weigh In On Core & Main

Several hedge funds and other institutional investors have recently bought and sold shares of CNM. Ashton Thomas Securities LLC acquired a new stake in shares of Core & Main during the 3rd quarter worth approximately $26,000. Avior Wealth Management LLC grew its stake in shares of Core & Main by 51.3% during the 4th quarter. Avior Wealth Management LLC now owns 799 shares of the company’s stock worth $41,000 after purchasing an additional 271 shares during the period. UMB Bank n.a. grew its stake in shares of Core & Main by 246.0% during the 4th quarter. UMB Bank n.a. now owns 962 shares of the company’s stock worth $49,000 after purchasing an additional 684 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in shares of Core & Main during the 3rd quarter worth approximately $49,000. Finally, Quadrant Capital Group LLC grew its stake in shares of Core & Main by 30.1% during the 4th quarter. Quadrant Capital Group LLC now owns 1,203 shares of the company’s stock worth $61,000 after purchasing an additional 278 shares during the period. Institutional investors and hedge funds 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.