Core & Main, Inc. (NYSE:CNM) Receives $50.08 Average Price Target from Analysts

Shares of Core & Main, Inc. (NYSE:CNM) have earned an average recommendation of “Moderate Buy” from the nine brokerages that are covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $50.08.

A number of research firms have weighed in on CNM. Truist Financial reiterated a “hold” rating and set a $38.00 price objective on shares of Core & Main in a research report on Wednesday, March 20th. The Goldman Sachs Group increased their price objective on shares of Core & Main from $42.00 to $61.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 26th. Citigroup lowered Core & Main from a “buy” rating to a “neutral” rating and boosted their target price for the company from $63.00 to $64.00 in a research report on Friday, April 5th. Royal Bank of Canada increased their price target on Core & Main from $59.00 to $60.00 and gave the stock an “outperform” rating in a report on Wednesday, March 20th. Finally, Barclays raised their price target on Core & Main from $49.00 to $65.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 20th.

Insider Transactions at Core & Main

In other news, major shareholder Cd&R Investment Associates X, sold 22,907,815 shares of the business’s stock in a transaction dated Thursday, January 25th. The stock was sold at an average price of $40.98, for a total transaction of $938,762,258.70. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, major shareholder Cd&R Investment Associates X, sold 22,907,815 shares of Core & Main stock in a transaction on Thursday, January 25th. The shares were sold at an average price of $40.98, for a total transaction of $938,762,258.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Stephen O. Leclair sold 150,000 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $44.14, for a total value of $6,621,000.00. Following the sale, the chief executive officer now owns 73,692 shares in the company, valued at approximately $3,252,764.88. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,363,315 shares of company stock valued at $960,746,759. Corporate insiders own 3.49% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in CNM. Vanguard Group Inc. raised its holdings in Core & Main by 41.4% in the 4th quarter. Vanguard Group Inc. now owns 13,417,484 shares of the company’s stock worth $542,201,000 after purchasing an additional 3,926,588 shares during the period. FMR LLC lifted its holdings in Core & Main by 51.1% during the third quarter. FMR LLC now owns 7,865,719 shares of the company’s stock valued at $226,926,000 after purchasing an additional 2,660,097 shares in the last quarter. Pacer Advisors Inc. acquired a new position in shares of Core & Main during the fourth quarter valued at approximately $91,771,000. Handelsbanken Fonder AB lifted its position in shares of Core & Main by 180.1% in the fourth quarter. Handelsbanken Fonder AB now owns 2,707,385 shares of the company’s stock valued at $109,405,000 after acquiring an additional 1,740,685 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Core & Main in the fourth quarter worth approximately $69,282,000. Hedge funds and other institutional investors own 94.19% of the company’s stock.

Core & Main Stock Performance

NYSE:CNM opened at $54.61 on Thursday. The company has a debt-to-equity ratio of 1.22, a current ratio of 2.29 and a quick ratio of 1.30. The company has a market cap of $11.00 billion, a price-to-earnings ratio of 25.40, a PEG ratio of 1.68 and a beta of 1.15. Core & Main has a 1 year low of $25.16 and a 1 year high of $60.83. The stock’s 50 day simple moving average is $52.15 and its two-hundred day simple moving average is $42.06.

Core & Main (NYSE:CNM) last issued its quarterly earnings data on Tuesday, March 19th. The company reported $0.34 EPS for the quarter, hitting analysts’ consensus estimates of $0.34. Core & Main had a net margin of 5.54% and a return on equity of 18.22%. The business had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.43 billion. During the same period last year, the company posted $0.31 EPS. The business’s revenue was up 4.8% on a year-over-year basis. As a group, equities analysts anticipate that Core & Main will post 2.59 earnings per share for the current fiscal year.

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.