Core & Main (NYSE:CNM – Get Rating) had its target price hoisted by analysts at Barclays to $31.00 in a research note issued on Tuesday, Stock Target Advisor reports. Barclays’s price objective would suggest a potential upside of 32.71% from the stock’s previous close.
CNM has been the topic of several other research reports. Royal Bank of Canada boosted their price target on shares of Core & Main from $25.00 to $27.00 and gave the company an “outperform” rating in a research report on Thursday, September 15th. Citigroup boosted their target price on shares of Core & Main from $25.00 to $26.00 in a research report on Wednesday, September 14th. Robert W. Baird boosted their price objective on Core & Main from $27.00 to $30.00 and gave the company an “outperform” rating in a research note on Wednesday, September 14th. The Goldman Sachs Group boosted their price objective on Core & Main from $26.00 to $29.00 and gave the company a “neutral” rating in a research report on Wednesday, September 14th. Finally, Credit Suisse Group boosted their price target on shares of Core & Main from $29.00 to $32.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 14th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $29.30.
Core & Main Stock Performance
Shares of NYSE CNM traded down $0.47 during mid-day trading on Tuesday, reaching $23.36. 2,209,851 shares of the company’s stock were exchanged, compared to its average volume of 793,388. The firm has a market capitalization of $5.74 billion, a price-to-earnings ratio of 12.70, a price-to-earnings-growth ratio of 0.90 and a beta of 1.08. Core & Main has a 52 week low of $20.00 and a 52 week high of $32.54. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.28 and a quick ratio of 1.20. The firm has a 50-day moving average price of $23.62 and a two-hundred day moving average price of $23.28.
Core & Main (NYSE:CNM – Get Rating) last released its quarterly earnings results on Tuesday, September 13th. The company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.16. The firm had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.65 billion. Core & Main had a return on equity of 23.39% and a net margin of 5.13%. The company’s revenue was up 43.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.10 EPS. Analysts predict that Core & Main will post 1.86 EPS for the current year.
Insider Buying and Selling at Core & Main
In other news, insider Laura K. Schneider sold 33,333 shares of the company’s stock in a transaction on Thursday, August 25th. The stock was sold at an average price of $25.08, for a total transaction of $835,991.64. Following the completion of the sale, the insider now directly owns 4,866 shares in the company, valued at approximately $122,039.28. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Core & Main news, insider Laura K. Schneider sold 33,333 shares of the stock in a transaction on Thursday, August 25th. The shares were sold at an average price of $25.08, for a total transaction of $835,991.64. Following the sale, the insider now directly owns 4,866 shares of the company’s stock, valued at $122,039.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Mark G. Whittenburg sold 5,296 shares of the stock in a transaction dated Thursday, August 18th. The stock was sold at an average price of $24.78, for a total transaction of $131,234.88. Following the completion of the sale, the general counsel now directly owns 5,286 shares in the company, valued at approximately $130,987.08. The disclosure for this sale can be found here. Insiders have sold 104,537 shares of company stock valued at $2,592,657 over the last quarter. Corporate insiders own 1.20% of the company’s stock.
Institutional Investors Weigh In On Core & Main
Hedge funds have recently bought and sold shares of the business. Los Angeles Capital Management LLC lifted its holdings in Core & Main by 1.7% in the 2nd quarter. Los Angeles Capital Management LLC now owns 34,066 shares of the company’s stock worth $760,000 after purchasing an additional 575 shares during the last quarter. Captrust Financial Advisors increased its position in shares of Core & Main by 3.8% during the second quarter. Captrust Financial Advisors now owns 19,074 shares of the company’s stock valued at $425,000 after purchasing an additional 703 shares during the period. Islay Capital Management LLC boosted its position in shares of Core & Main by 18.6% during the 2nd quarter. Islay Capital Management LLC now owns 4,901 shares of the company’s stock valued at $109,000 after acquiring an additional 770 shares in the last quarter. Assetmark Inc. lifted its position in shares of Core & Main by 155.2% during the 2nd quarter. Assetmark Inc. now owns 1,613 shares of the company’s stock worth $36,000 after buying an additional 981 shares during the period. Finally, Pinebridge Investments L.P. grew its holdings in shares of Core & Main by 6.2% in the 2nd quarter. Pinebridge Investments L.P. now owns 16,960 shares of the company’s stock worth $378,000 after purchasing an additional 991 shares during the last quarter. 94.93% of the stock is owned by hedge funds and other institutional investors.
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 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, and other related products; fire protection products, including fire protection pipes, sprinkler heads and other devices, fire suppression systems, and related accessories, as well as fabrication services; and meter products, such as smart meter products, installation, software and other services.