Core & Main, Inc. (NYSE:CNM) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Core & Main, Inc. (NYSE:CNM) have been given a consensus rating of “Moderate Buy” by the fourteen analysts that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and eight have given a buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $55.6364.

A number of equities analysts recently weighed in on the company. Robert W. Baird dropped their price target on Core & Main from $66.00 to $57.00 and set an “outperform” rating on the stock in a research note on Thursday, September 10th. Wolfe Research reaffirmed an “outperform” rating and set a $63.00 price objective on shares of Core & Main in a research note on Tuesday. William Blair started coverage on shares of Core & Main in a report on Thursday, July 23rd. They issued a “market perform” rating for the company. The Goldman Sachs Group reiterated a “neutral” rating and issued a $53.00 target price on shares of Core & Main in a report on Thursday, September 10th. Finally, Wall Street Zen downgraded shares of Core & Main from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th.

Insider Buying and Selling

In other news, Director James Hope acquired 2,067 shares of the firm’s stock in a transaction that occurred on Monday, July 6th. The stock was purchased 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 of the company’s stock, valued at approximately $543,148.05. This trade represents a 21.23% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 1.51% of the company’s stock.

Institutional Trading of Core & Main

A number of hedge funds have recently modified their holdings of CNM. Root Financial Partners LLC grew its holdings in shares of Core & Main by 111.6% during the first quarter. Root Financial Partners LLC now owns 895 shares of the company’s stock valued at $44,000 after buying an additional 472 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in Core & Main by 377.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,679 shares of the company’s stock worth $87,000 after acquiring an additional 1,327 shares in the last quarter. Eurizon Capital SGR S.p.A. purchased a new stake in Core & Main in the 4th quarter worth about $92,000. Covestor Ltd lifted its stake in Core & Main by 30.8% in the 4th quarter. Covestor Ltd now owns 1,913 shares of the company’s stock worth $99,000 after acquiring an additional 450 shares in the last quarter. Finally, SkyView Investment Advisors LLC acquired a new stake in Core & Main during the 2nd quarter worth about $145,000. Hedge funds and other institutional investors own 94.19% of the company’s stock.

Core & Main Stock Performance

Shares of NYSE CNM opened at $42.73 on Thursday. The company has a quick ratio of 1.51, a current ratio of 2.47 and a debt-to-equity ratio of 1.16. The stock has a market capitalization of $8.27 billion, a price-to-earnings ratio of 17.59, a PEG ratio of 1.72 and a beta of 0.91. The stock’s fifty day simple moving average is $44.22 and its 200 day simple moving average is $47.49. Core & Main has a 52-week low of $40.03 and a 52-week high of $59.66.

Core & Main (NYSE:CNM) last announced its earnings results on Wednesday, September 9th. The company reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.03. Core & Main had a return on equity of 25.98% and a net margin of 5.96%.The company had revenue of $2.15 billion for the quarter, compared to analyst estimates of $2.14 billion. During the same period in the previous year, the firm earned $0.87 earnings per share. Core & Main’s revenue for the quarter was up 2.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Core & Main will post 3 earnings per share for the current fiscal year.

About Core & Main

Core & Main, Inc (NYSE: CNM) is a specialized distributor of water, wastewater, storm drainage and fire protection products in the United States. The company supplies infrastructure materials used in the construction, maintenance and repair of public and private utility systems.

Its product offerings include ductile iron and PVC pipe, valves, hydrants, water meters, storm drainage systems, pipe fittings, fire protection equipment and related products. Core & Main also provides services such as product sourcing, technical support, fabrication, field assistance and inventory management to help customers complete infrastructure projects.

Core & Main serves municipalities, utility contractors, water and wastewater authorities, private water companies, civil and site-development contractors, and other industrial customers through a nationwide distribution network.