Investors Buy Large Volume of Core & Main Call Options (NYSE:CNM)

Core & Main, Inc. (NYSE:CNM) was the target of unusually large options trading on Monday. Stock investors purchased 3,044 call options on the company. This is an increase of approximately 76% compared to the typical daily volume of 1,734 call options.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CNM. JPMorgan Chase & Co. cut their price objective on shares of Core & Main from $54.00 to $52.00 and set an “overweight” rating for the company in a research report on Tuesday, September 3rd. Truist Financial cut their price target on shares of Core & Main from $50.00 to $38.00 and set a “hold” rating for the company in a report on Thursday, September 5th. Loop Capital decreased their price target on shares of Core & Main from $64.00 to $52.00 and set a “buy” rating on the stock in a report on Thursday, September 5th. Bank of America dropped their price objective on Core & Main from $38.00 to $34.00 and set an “underperform” rating for the company in a research note on Thursday, September 5th. Finally, Barclays decreased their target price on Core & Main from $65.00 to $57.00 and set an “overweight” rating on the stock in a research note on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $51.20.

Institutional Investors Weigh In On Core & Main

Several institutional investors have recently bought and sold shares of the stock. Ashton Thomas Securities LLC purchased a new stake in shares of Core & Main during the third quarter worth about $26,000. ORG Wealth Partners LLC purchased a new stake in Core & Main in the 3rd quarter worth approximately $31,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Core & Main in the 3rd quarter worth approximately $49,000. GAMMA Investing LLC increased its stake in shares of Core & Main by 61.1% during the third quarter. GAMMA Investing LLC now owns 1,348 shares of the company’s stock valued at $60,000 after buying an additional 511 shares during the period. Finally, Brown Brothers Harriman & Co. bought a new position in shares of Core & Main during the second quarter valued at approximately $76,000. 94.19% of the stock is currently owned by hedge funds and other institutional investors.

Core & Main Stock Performance

NYSE:CNM opened at $55.78 on Wednesday. Core & Main has a 1-year low of $35.03 and a 1-year high of $62.15. The company has a debt-to-equity ratio of 1.40, a current ratio of 2.29 and a quick ratio of 1.34. The business has a 50 day moving average of $44.80 and a 200 day moving average of $48.09. The company has a market capitalization of $11.22 billion, a price-to-earnings ratio of 26.69, a PEG ratio of 3.14 and a beta of 1.04.

Core & Main (NYSE:CNM) last issued its earnings results on Tuesday, December 3rd. The company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.04. Core & Main had a net margin of 5.58% and a return on equity of 21.91%. The company had revenue of $2.04 billion for the quarter, compared to analysts’ expectations of $1.99 billion. During the same quarter last year, the company earned $0.65 EPS. The firm’s revenue was up 11.5% compared to the same quarter last year. On average, sell-side analysts predict that Core & Main will post 2.1 earnings per share for the current fiscal year.

About Core & Main

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 portfolio 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, erosion control, and other related products; fire protection products, including fire protection pipes, and sprinkler heads and devices, as well as fabrication services; and meter products, such as smart meter products, meter sets, meter accessories, installation, software, and other services.