Core & Main, Inc. (NYSE:CNM) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Core & Main, Inc. (NYSE:CNM) has earned a consensus recommendation of “Moderate Buy” from the ten research firms that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $58.10.

CNM has been the topic of several research analyst reports. Bank of America decreased their target price on shares of Core & Main from $38.00 to $34.00 and set an “underperform” rating on the stock in a research report on Thursday, September 5th. Royal Bank of Canada reiterated 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. Loop Capital boosted their price objective on shares of Core & Main from $52.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday. JPMorgan Chase & Co. decreased their price objective on shares of Core & Main from $54.00 to $52.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 3rd. Finally, Wells Fargo & Company boosted their price objective on shares of Core & Main from $52.00 to $62.00 and gave the stock an “overweight” rating in a research report on Thursday.

Core & Main Price Performance

Shares of NYSE CNM opened at $54.62 on Friday. The firm has a market capitalization of $10.99 billion, a P/E ratio of 25.64, a PEG ratio of 3.63 and a beta of 1.04. Core & Main has a one year low of $35.70 and a one year high of $62.15. The company’s fifty day moving average is $45.25 and its two-hundred day moving average is $48.11. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.34 and a current ratio of 2.14.

Core & Main (NYSE:CNM) last issued its earnings results on Tuesday, December 3rd. The company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.65 by $0.04. The company had revenue of $2.04 billion for the quarter, compared to analyst estimates of $1.99 billion. Core & Main had a net margin of 5.71% and a return on equity of 24.71%. The business’s revenue was up 11.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.65 EPS. Analysts forecast that Core & Main will post 2.1 EPS for the current fiscal year.

Insider Buying and Selling at Core & Main

In other news, President Bradford A. Cowles sold 50,000 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $55.07, for a total transaction of $2,753,500.00. Following the completion of the transaction, the president now owns 18,423 shares of the company’s stock, valued at $1,014,554.61. This represents a 73.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Margaret Newman sold 15,000 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $55.25, for a total transaction of $828,750.00. Following the transaction, the director now directly owns 11,769 shares of the company’s stock, valued at approximately $650,237.25. This represents a 56.03 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 290,000 shares of company stock worth $15,926,000. Corporate insiders own 3.49% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of CNM. Ashton Thomas Securities LLC acquired a new position in shares of Core & Main during the 3rd quarter valued at about $26,000. ORG Wealth Partners LLC acquired a new stake in Core & Main during the 3rd quarter worth approximately $31,000. Wilmington Savings Fund Society FSB acquired a new stake in Core & Main during the 3rd quarter worth approximately $49,000. GAMMA Investing LLC increased 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 worth $60,000 after purchasing an additional 511 shares in the last quarter. Finally, Brown Brothers Harriman & Co. acquired a new stake in Core & Main during the 2nd quarter worth approximately $76,000. Institutional investors and hedge funds 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.