Core & Main (NYSE:CNM) Downgraded to Neutral Rating by Northcoast Research

Core & Main (NYSE:CNM) was downgraded by Northcoast Research from a “buy” rating to a “neutral” rating in a research report issued on Wednesday, Marketbeat.com reports.

Several other equities analysts have also recently weighed in on CNM. William Blair initiated coverage on shares of Core & Main in a research report on Thursday, July 23rd. They set a “market perform” rating on the stock. Wall Street Zen lowered Core & Main from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Citigroup decreased their target price on Core & Main from $54.00 to $53.00 and set a “neutral” rating for the company in a research report on Thursday, June 11th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and set a $24.00 price target on shares of Core & Main in a report on Thursday, June 11th. Seven equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $56.70.

Core & Main Stock Performance

Core & Main stock opened at $44.16 on Wednesday. The firm’s 50 day simple moving average is $45.57 and its 200-day simple moving average is $49.07. The company has a market cap of $8.54 billion, a P/E ratio of 18.71, a price-to-earnings-growth ratio of 1.53 and a beta of 0.92. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.31 and a quick ratio of 1.31. Core & Main has a fifty-two week low of $41.88 and a fifty-two week high of $67.18.

Insider Activity

In other news, Director James D. Hope purchased 2,067 shares of the stock in a transaction that occurred on Monday, July 6th. The stock was acquired at an average price of $46.01 per share, with a total value of $95,102.67. Following the purchase, the director owned 11,805 shares in the company, valued at $543,148.05. This represents a 21.23% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.51% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Core & Main

A number of large investors have recently bought and sold shares of the business. TD Waterhouse Canada Inc. bought a new stake in shares of Core & Main during the 4th quarter worth about $26,000. EverSource Wealth Advisors LLC lifted its position in Core & Main by 145.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 454 shares of the company’s stock worth $27,000 after acquiring an additional 269 shares during the last quarter. Cubist Systematic Strategies LLC boosted its holdings in Core & Main by 262.0% during the first quarter. Cubist Systematic Strategies LLC now owns 724 shares of the company’s stock valued at $35,000 after acquiring an additional 524 shares during the period. Quarry LP acquired a new stake in shares of Core & Main in the fourth quarter valued at about $38,000. Finally, Root Financial Partners LLC grew its position in shares of Core & Main by 111.6% in the first quarter. Root Financial Partners LLC now owns 895 shares of the company’s stock valued at $44,000 after purchasing an additional 472 shares during the last quarter. 94.19% of the stock is currently owned by institutional investors.

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.