Core & Main (NYSE:CNM) Given New $62.00 Price Target at Wells Fargo & Company

Core & Main (NYSE:CNM) had its target price raised by analysts at Wells Fargo & Company from $52.00 to $62.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective indicates a potential upside of 15.07% from the stock’s previous close.

CNM has been the topic of several other reports. Robert W. Baird upped their target price on shares of Core & Main from $60.00 to $66.00 and gave the stock an “outperform” rating in a research note on Wednesday. Bank of America reduced their price objective on Core & Main from $38.00 to $34.00 and set an “underperform” rating on the stock in a research note on Thursday, September 5th. The Goldman Sachs Group lowered their target price on Core & Main from $57.00 to $50.00 and set a “neutral” rating for the company in a research note on Friday, September 6th. Loop Capital reduced their price target on Core & Main from $64.00 to $52.00 and set a “buy” rating on the stock in a research report on Thursday, September 5th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $62.00 price objective (up from $53.00) on shares of Core & Main in a research report on Wednesday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $58.10.

Core & Main Trading Down 1.4 %

Shares of NYSE CNM opened at $53.88 on Thursday. The company has a current ratio of 2.14, a quick ratio of 1.34 and a debt-to-equity ratio of 1.36. The stock has a market capitalization of $10.84 billion, a PE ratio of 25.30, a PEG ratio of 3.63 and a beta of 1.04. Core & Main has a twelve month low of $35.70 and a twelve month high of $62.15. The stock has a fifty day simple moving average of $45.44 and a 200-day simple moving average of $48.15.

Core & Main (NYSE:CNM) last announced its earnings results on Tuesday, December 3rd. The company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.04. The company had revenue of $2.04 billion during the quarter, compared to analysts’ expectations of $1.99 billion. Core & Main had a return on equity of 24.71% and a net margin of 5.71%. Core & Main’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same period last year, the business posted $0.65 EPS. On average, equities analysts forecast that Core & Main will post 2.1 earnings per share for the current year.

Insider Buying and Selling at Core & Main

In other news, EVP Jeffrey D. Giles sold 25,000 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $54.71, for a total value of $1,367,750.00. Following the completion of the sale, the executive vice president now directly owns 11,615 shares of the company’s stock, valued at approximately $635,456.65. The trade was a 68.28 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Bradford A. Cowles sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $55.07, for a total value of $2,753,500.00. Following the transaction, the president now owns 18,423 shares in the company, valued at $1,014,554.61. This represents a 73.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 290,000 shares of company stock worth $15,926,000 over the last three months. Insiders own 3.49% of the company’s stock.

Institutional Investors Weigh In On Core & Main

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. QRG Capital Management Inc. raised its position in Core & Main by 1.9% in the 2nd quarter. QRG Capital Management Inc. now owns 12,153 shares of the company’s stock valued at $595,000 after purchasing an additional 228 shares during the last quarter. United Services Automobile Association raised its holdings in shares of Core & Main by 2.0% in the second quarter. United Services Automobile Association now owns 13,307 shares of the company’s stock valued at $651,000 after buying an additional 266 shares during the last quarter. Andina Capital Management LLC boosted its stake in shares of Core & Main by 3.5% during the third quarter. Andina Capital Management LLC now owns 8,707 shares of the company’s stock worth $387,000 after buying an additional 294 shares during the period. CWM LLC grew its holdings in shares of Core & Main by 25.6% during the second quarter. CWM LLC now owns 1,638 shares of the company’s stock worth $80,000 after buying an additional 334 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in Core & Main by 61.1% in the 3rd quarter. GAMMA Investing LLC now owns 1,348 shares of the company’s stock valued at $60,000 after acquiring an additional 511 shares during the period. Hedge funds and other institutional investors own 94.19% of the company’s stock.

Core & Main Company Profile

Core & Main, Inc distributes water, wastewater, storm drainage, and fire protection products and related services to municipalities, private water companies, and professional contractors in the municipal, non-residential, and residential end markets in the United States. Its products portfolio include pipes, valves, hydrants, fittings, and other products and services; storm drainage products, such as corrugated piping systems, retention basins, inline drains, manholes, grates, geosynthetics, erosion control, and other related products; fire protection products, including fire protection pipes, and sprinkler heads and devices, as well as fabrication services; and meter products, such as smart meter products, meter sets, meter accessories, installation, software, and other services.