Core & Main, Inc. (NYSE:CNM) Receives $57.73 Average Price Target from Brokerages

Shares of Core & Main, Inc. (NYSE:CNM) have received a consensus rating of “Moderate Buy” from the thirteen brokerages that are presently covering the stock, MarketBeat.com reports. Six analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $57.7273.

CNM has been the subject of a number of recent research reports. Wall Street Zen upgraded Core & Main from a “hold” rating to a “buy” rating in a research note on Saturday. William Blair assumed coverage on shares of Core & Main in a report on Thursday. They set a “market perform” rating for the company. The Goldman Sachs Group restated a “neutral” rating and set a $24.00 price target on shares of Core & Main in a research report on Thursday, June 11th. Finally, Citigroup lowered their price target on shares of Core & Main from $54.00 to $53.00 and set a “neutral” rating for the company in a research report on Thursday, June 11th.

Core & Main Stock Up 0.2%

NYSE:CNM opened at $43.69 on Wednesday. The company has a current ratio of 2.31, a quick ratio of 1.31 and a debt-to-equity ratio of 1.00. The stock has a 50 day moving average of $47.31 and a 200-day moving average of $50.80. The firm has a market capitalization of $8.45 billion, a PE ratio of 18.51, a price-to-earnings-growth ratio of 1.51 and a beta of 0.91. Core & Main has a 52 week low of $42.50 and a 52 week high of $67.18.

Insider Transactions at Core & Main

In other news, Director James D. Hope bought 2,067 shares of Core & Main stock in a transaction on Monday, July 6th. The stock was purchased at an average cost of $46.01 per share, with a total value of $95,102.67. Following the purchase, the director directly owned 11,805 shares of the company’s stock, valued at approximately $543,148.05. This trade represents a 21.23% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 1.51% of the stock is owned by insiders.

Institutional Investors Weigh In On Core & Main

A number of hedge funds have recently made changes to their positions in CNM. EverSource Wealth Advisors LLC grew its holdings in Core & Main by 145.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 454 shares of the company’s stock worth $27,000 after buying an additional 269 shares in the last quarter. TD Waterhouse Canada Inc. bought a new stake in Core & Main during the 4th quarter valued at $26,000. Whittier Trust Co. acquired a new position in Core & Main during the 4th quarter worth $28,000. Cubist Systematic Strategies LLC boosted its position in Core & Main by 262.0% during the 1st quarter. Cubist Systematic Strategies LLC now owns 724 shares of the company’s stock worth $35,000 after acquiring an additional 524 shares during the period. Finally, Quarry LP acquired a new position in Core & Main during the 4th quarter worth $38,000. Institutional investors own 94.19% of the company’s stock.

About Core & Main

Core & Main, Inc (NYSE:CNM) is a leading distributor of water, sewer, storm drainage and fire protection products across North America. The company’s product portfolio includes valves, hydrants, pipe and fittings, meters, couplings and other essential components that support municipal, industrial and environmental infrastructure projects. By combining a comprehensive inventory with logistics and technical support, Core & Main helps customers address complex water system and distribution challenges.

With more than 300 branch locations and over 3,500 employees, Core & Main serves a diverse customer base that includes municipalities, contractors, engineers and utility providers.