Core & Main (NYSE:CNM) Stock Price Expected to Rise, Loop Capital Analyst Says

Core & Main (NYSE:CNM) had its price objective boosted by Loop Capital from $52.00 to $63.00 in a report issued on Wednesday morning,Benzinga reports. Loop Capital currently has a buy rating on the stock.

Other equities research analysts have also issued reports about the stock. Barclays increased their target price on shares of Core & Main from $57.00 to $65.00 and gave the stock an “overweight” rating in a report on Wednesday. Royal Bank of Canada reiterated an “outperform” rating and issued a $62.00 price objective (up from $53.00) on shares of Core & Main in a research note on Wednesday. Truist Financial lifted their target price on Core & Main from $38.00 to $56.00 and gave the company a “hold” rating in a report on Wednesday. The Goldman Sachs Group cut their price target on Core & Main from $57.00 to $50.00 and set a “neutral” rating on the stock in a report on Friday, September 6th. Finally, Robert W. Baird lifted their price objective on Core & Main from $60.00 to $66.00 and gave the company an “outperform” rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Core & Main has an average rating of “Moderate Buy” and an average price target of $58.10.

Core & Main Price Performance

CNM stock opened at $53.88 on Wednesday. The business’s fifty day moving average price is $45.44 and its 200 day moving average price is $48.15. Core & Main has a 12-month low of $35.70 and a 12-month high of $62.15. The company has a current ratio of 2.14, a quick ratio of 1.34 and a debt-to-equity ratio of 1.36. The company has a market capitalization of $10.84 billion, a PE ratio of 25.64, a P/E/G ratio of 3.63 and a beta of 1.04.

Core & Main (NYSE:CNM) last issued its quarterly earnings results on Tuesday, December 3rd. The company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.04. The company had revenue of $2.04 billion for the quarter, compared to analyst estimates of $1.99 billion. Core & Main had a net margin of 5.71% and a return on equity of 24.71%. The business’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.65 earnings per share. On average, sell-side analysts anticipate that Core & Main will post 2.1 EPS for the current year.

Insider Activity

In other Core & Main news, President Bradford A. Cowles sold 50,000 shares of the company’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $55.07, for a total value of $2,753,500.00. Following the completion of the transaction, the president now owns 18,423 shares in the company, valued at $1,014,554.61. This represents a 73.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Stephen O. Leclair sold 200,000 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $54.88, for a total value of $10,976,000.00. Following the transaction, the chief executive officer now directly owns 92,349 shares in the company, valued at approximately $5,068,113.12. The trade was a 68.41 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 290,000 shares of company stock worth $15,926,000. 3.49% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Core & Main

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CNM. Ashton Thomas Securities LLC purchased a new stake in shares of Core & Main in the third quarter valued at about $26,000. ORG Wealth Partners LLC acquired a new position in Core & Main in the 3rd quarter valued at about $31,000. Wilmington Savings Fund Society FSB purchased a new stake in Core & Main during the 3rd quarter valued at approximately $49,000. GAMMA Investing LLC lifted its position in Core & Main by 61.1% during the 3rd quarter. GAMMA Investing LLC now owns 1,348 shares of the company’s stock worth $60,000 after acquiring an additional 511 shares during the period. Finally, Brown Brothers Harriman & Co. purchased a new position in shares of Core & Main in the 2nd quarter valued at approximately $76,000. Hedge funds and other institutional investors own 94.19% of the company’s stock.

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 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.