Core & Main (NYSE:CNM) Price Target Raised to $65.00

Core & Main (NYSE:CNM) had its price objective upped by Barclays from $57.00 to $65.00 in a report issued on Wednesday morning,Benzinga reports. Barclays currently has an overweight rating on the stock.

CNM has been the subject of a number of other research reports. Loop Capital lowered their price objective on shares of Core & Main from $64.00 to $52.00 and set a “buy” rating for the company in a research report on Thursday, September 5th. Wells Fargo & Company initiated coverage on Core & Main in a research report on Monday, September 23rd. They set an “overweight” rating and a $52.00 price objective for the company. The Goldman Sachs Group lowered their price objective on Core & Main from $57.00 to $50.00 and set a “neutral” rating for the company in a research note on Friday, September 6th. Bank of America reduced their price target on shares of Core & Main from $38.00 to $34.00 and set an “underperform” rating for the company in a report on Thursday, September 5th. Finally, Royal Bank of Canada lowered their price target on shares of Core & Main from $60.00 to $53.00 and set an “outperform” rating for the company in a research report on Thursday, September 5th. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $58.10.

Core & Main Trading Down 1.4 %

Shares of NYSE CNM opened at $53.88 on Wednesday. The stock has a market capitalization of $10.84 billion, a P/E ratio of 25.30, a PEG ratio of 3.63 and a beta of 1.04. The stock’s 50 day moving average price is $45.44 and its two-hundred day moving average price is $48.15. The company has a quick ratio of 1.34, a current ratio of 2.14 and a debt-to-equity ratio of 1.36. Core & Main has a 52-week low of $35.70 and a 52-week high of $62.15.

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

Insider Activity at Core & Main

In other Core & Main news, Director Margaret Newman sold 15,000 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $55.25, for a total transaction of $828,750.00. Following the completion of the transaction, the director now directly owns 11,769 shares of the company’s stock, valued at approximately $650,237.25. This trade represents a 56.03 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Jeffrey D. Giles sold 25,000 shares of Core & Main stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $54.71, for a total value of $1,367,750.00. Following the transaction, the executive vice president now owns 11,615 shares in the company, valued at approximately $635,456.65. This trade represents a 68.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 290,000 shares of company stock worth $15,926,000 in the last 90 days. Corporate insiders own 3.49% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Select Equity Group L.P. lifted its holdings in Core & Main by 0.3% in the 2nd quarter. Select Equity Group L.P. now owns 15,426,777 shares of the company’s stock valued at $754,986,000 after acquiring an additional 39,475 shares during the last quarter. FMR LLC raised its holdings in shares of Core & Main by 28.0% in the 3rd quarter. FMR LLC now owns 8,697,084 shares of the company’s stock worth $386,151,000 after purchasing an additional 1,903,280 shares in the last quarter. State Street Corp lifted its stake in Core & Main by 9.7% during the third quarter. State Street Corp now owns 5,522,009 shares of the company’s stock valued at $245,177,000 after purchasing an additional 489,224 shares during the last quarter. Pacer Advisors Inc. grew its position in Core & Main by 1.0% in the third quarter. Pacer Advisors Inc. now owns 4,250,219 shares of the company’s stock worth $188,710,000 after buying an additional 41,521 shares during the last quarter. Finally, Royal London Asset Management Ltd. increased its holdings in shares of Core & Main by 39.9% in the third quarter. Royal London Asset Management Ltd. now owns 3,761,906 shares of the company’s stock valued at $167,029,000 after buying an additional 1,073,451 shares in the last quarter. Institutional investors own 94.19% of the company’s stock.

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.