Wells Fargo & Company Raises Core & Main (NYSE:CNM) Price Target to $65.00

Core & Main (NYSE:CNM) had its price objective boosted by Wells Fargo & Company from $62.00 to $65.00 in a research note released on Tuesday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other research analysts also recently commented on CNM. Loop Capital upped their price objective on Core & Main from $52.00 to $63.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $62.00 price objective (up previously from $53.00) on shares of Core & Main in a report on Wednesday, December 4th. The Goldman Sachs Group boosted their target price on shares of Core & Main from $50.00 to $57.00 and gave the company a “neutral” rating in a research note on Thursday, December 5th. Barclays boosted their price objective on Core & Main from $57.00 to $65.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Finally, Citigroup raised their target price on Core & Main from $43.00 to $56.00 and gave the company a “neutral” rating in a research report on Monday, January 6th. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $57.60.

Core & Main Stock Down 1.9 %

CNM stock opened at $54.73 on Tuesday. The firm has a market cap of $10.87 billion, a price-to-earnings ratio of 25.69, a PEG ratio of 3.12 and a beta of 1.03. Core & Main has a 1-year low of $37.22 and a 1-year high of $62.15. The firm has a fifty day moving average price of $52.89 and a two-hundred day moving average price of $48.44. The company has a debt-to-equity ratio of 1.36, a current ratio of 2.14 and a quick ratio of 1.28.

Core & Main (NYSE:CNM) last released its quarterly earnings data on Tuesday, December 3rd. The company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.04. Core & Main had a net margin of 5.71% and a return on equity of 24.71%. The firm had revenue of $2.04 billion for the quarter, compared to analyst estimates of $1.99 billion. During the same quarter in the prior year, the business earned $0.65 earnings per share. Core & Main’s quarterly revenue was up 11.5% on a year-over-year basis. Research analysts predict that Core & Main will post 2.16 EPS for the current year.

Insider Activity at Core & Main

In other news, General Counsel Mark G. Whittenburg sold 50,000 shares of Core & Main 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 of the company’s stock, valued at $387,106.83. The trade was a 86.70 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Stephen O. Leclair sold 200,000 shares of the stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 92,349 shares of the company’s stock, valued at approximately $5,068,113.12. This represents a 68.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 427,426 shares of company stock valued at $22,923,825 over the last 90 days. 3.49% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Core & Main

A number of institutional investors and hedge funds have recently modified their holdings of CNM. Fifth Third Wealth Advisors LLC increased its stake in Core & Main by 4.8% in the 4th quarter. Fifth Third Wealth Advisors LLC now owns 5,616 shares of the company’s stock worth $286,000 after purchasing an additional 258 shares in the last quarter. Avior Wealth Management LLC raised its holdings in shares of Core & Main by 51.3% during the fourth quarter. Avior Wealth Management LLC now owns 799 shares of the company’s stock valued at $41,000 after acquiring an additional 271 shares during the period. CIBC Asset Management Inc boosted its stake in Core & Main by 5.1% in the 4th quarter. CIBC Asset Management Inc now owns 5,871 shares of the company’s stock worth $299,000 after purchasing an additional 287 shares during the period. Andina Capital Management LLC grew its position in Core & Main by 3.5% during 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. Finally, Fifth Third Bancorp raised its stake in Core & Main by 2.8% during the 4th quarter. Fifth Third Bancorp now owns 13,589 shares of the company’s stock valued at $692,000 after purchasing an additional 374 shares during the period. 94.19% of the stock is owned by institutional investors and hedge funds.

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.