Core & Main (NYSE:CNM) Price Target Raised to $56.00

Core & Main (NYSE:CNM) had its price target raised by Citigroup from $43.00 to $56.00 in a report issued on Monday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

CNM has been the topic of several other reports. Loop Capital lifted their price objective on Core & Main from $52.00 to $63.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Royal Bank of Canada reiterated an “outperform” rating and set a $62.00 target price (up from $53.00) on shares of Core & Main in a report on Wednesday, December 4th. Truist Financial increased their price objective 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. The Goldman Sachs Group upped their target price on Core & Main from $50.00 to $57.00 and gave the company a “neutral” rating in a research report on Thursday, December 5th. Finally, Barclays raised their price target on shares of Core & Main from $57.00 to $65.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Core & Main presently has an average rating of “Moderate Buy” and a consensus price target of $57.30.

Core & Main Stock Up 0.6 %

Shares of NYSE:CNM opened at $51.19 on Monday. The stock’s fifty day simple moving average is $48.79 and its 200-day simple moving average is $47.77. Core & Main has a 52-week low of $37.22 and a 52-week high of $62.15. The company has a market capitalization of $10.17 billion, a P/E ratio of 24.03, a P/E/G ratio of 2.95 and a beta of 1.02. 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 (NYSE:CNM) last issued its quarterly earnings results on Tuesday, December 3rd. The company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.04. Core & Main had a return on equity of 24.71% and a net margin of 5.71%. The company had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $1.99 billion. During the same period in the previous year, the firm posted $0.65 EPS. Core & Main’s revenue was up 11.5% on a year-over-year basis. As a group, equities research analysts forecast that Core & Main will post 2.16 earnings per share for the current fiscal year.

Insider Activity at Core & Main

In other news, CEO Stephen O. Leclair sold 200,000 shares of Core & Main stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $54.88, for a total transaction of $10,976,000.00. Following the transaction, the chief executive officer now owns 92,349 shares in the company, valued at approximately $5,068,113.12. The trade was a 68.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Margaret Newman sold 15,000 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $55.25, for a total value of $828,750.00. Following the completion of the transaction, the director now directly owns 11,769 shares in the company, valued at $650,237.25. This represents a 56.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 290,000 shares of company stock valued at $15,926,000 over the last ninety days. 3.49% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Core & Main

Several hedge funds have recently bought and sold shares of the business. United Services Automobile Association grew its stake in shares of Core & Main by 2.0% in the 2nd quarter. United Services Automobile Association now owns 13,307 shares of the company’s stock worth $651,000 after buying an additional 266 shares during the last quarter. Andina Capital Management LLC boosted its stake in Core & Main by 3.5% in the 3rd quarter. Andina Capital Management LLC now owns 8,707 shares of the company’s stock worth $387,000 after purchasing an additional 294 shares in the last quarter. GAMMA Investing LLC grew its position in Core & Main by 61.1% during the 3rd quarter. GAMMA Investing LLC now owns 1,348 shares of the company’s stock valued at $60,000 after purchasing an additional 511 shares during the last quarter. Ashton Thomas Securities LLC bought a new stake in Core & Main during the 3rd quarter valued at about $26,000. Finally, National Bank of Canada FI raised its holdings in Core & Main by 4.7% in the second quarter. National Bank of Canada FI now owns 14,453 shares of the company’s stock worth $700,000 after buying an additional 653 shares during the last quarter. Institutional investors own 94.19% of the company’s stock.

About Core & Main

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.