Core & Main, Inc. (NYSE:CNM) Given Average Rating of “Moderate Buy” by Analysts

Shares of Core & Main, Inc. (NYSE:CNM) have received a consensus rating of “Moderate Buy” from the thirteen research firms that are covering the firm, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $54.90.

Several research analysts recently commented on the company. Robert W. Baird reduced their price objective on Core & Main from $66.00 to $57.00 and set an “outperform” rating for the company in a research note on Thursday, September 10th. Wells Fargo & Company lowered their target price on shares of Core & Main from $65.00 to $48.00 and set an “overweight” rating on the stock in a research note on Thursday. Citigroup dropped their target price on shares of Core & Main from $53.00 to $46.00 and set a “neutral” rating for the company in a report on Friday. Truist Financial reduced their target price on shares of Core & Main from $50.00 to $45.00 and set a “hold” rating for the company in a research report on Thursday, September 10th. Finally, William Blair assumed coverage on shares of Core & Main in a research note on Thursday, July 23rd. They issued a “market perform” rating on the stock.

Insider Buying and Selling

In other Core & Main news, Director James Hope acquired 2,067 shares of the business’s stock in a transaction on Monday, July 6th. The stock was bought at an average price of $46.01 per share, for a total transaction of $95,102.67. Following the acquisition, the director owned 11,805 shares in the company, valued at approximately $543,148.05. The trade was a 21.23% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 1.51% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CNM. WINTON GROUP Ltd increased its holdings in shares of Core & Main by 41.4% in the second quarter. WINTON GROUP Ltd now owns 46,061 shares of the company’s stock valued at $2,222,000 after purchasing an additional 13,482 shares during the last quarter. Squarepoint Ops LLC boosted its stake in Core & Main by 109.4% during the second quarter. Squarepoint Ops LLC now owns 215,273 shares of the company’s stock worth $10,387,000 after buying an additional 112,444 shares during the last quarter. Allworth Financial LP boosted its stake in Core & Main by 176.7% during the second quarter. Allworth Financial LP now owns 33,752 shares of the company’s stock worth $1,629,000 after buying an additional 21,555 shares during the last quarter. Nykredit A S purchased a new stake in Core & Main in the 2nd quarter valued at $231,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Core & Main in the 2nd quarter valued at $4,461,000. 94.19% of the stock is currently owned by institutional investors and hedge funds.

Core & Main Stock Up 0.5%

CNM opened at $40.82 on Thursday. Core & Main has a twelve month low of $40.03 and a twelve month high of $59.66. 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 company has a 50-day moving average price of $44.38 and a 200 day moving average price of $47.67. The company has a market cap of $7.90 billion, a PE ratio of 16.80, a price-to-earnings-growth ratio of 1.70 and a beta of 0.91.

Core & Main (NYSE:CNM) last posted its quarterly earnings data on Wednesday, September 9th. The company reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts’ expectations of $2.14 billion. During the same period in the previous year, the firm posted $0.87 EPS. Core & Main’s revenue was up 2.5% compared to the same quarter last year. Sell-side analysts expect that Core & Main will post 3 earnings per share for the current fiscal year.

Core & Main Company Profile

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.