Research Analysts’ Weekly Ratings Updates for Core & Main (CNM)

Several brokerages have updated their recommendations and price targets on shares of Core & Main (NYSE: CNM) in the last few weeks:

• 12/5/2024 – Core & Main had its price target raised by analysts at Wells Fargo & Company from $52.00 to $62.00. They now have an “overweight” rating on the stock.
• 12/5/2024 – Core & Main had its price target raised by analysts at The Goldman Sachs Group, Inc. from $50.00 to $57.00. They now have a “neutral” rating on the stock.
• 12/4/2024 – Core & Main had its price target raised by analysts at Barclays PLC from $57.00 to $65.00. They now have an “overweight” rating on the stock.
• 12/4/2024 – Core & Main had its “outperform” rating reaffirmed by analysts at Royal Bank of Canada. They now have a $62.00 price target on the stock, up previously from $53.00.
• 12/4/2024 – Core & Main had its price target raised by analysts at Robert W. Baird from $60.00 to $66.00. They now have an “outperform” rating on the stock.
• 12/4/2024 – Core & Main had its price target raised by analysts at Truist Financial Co. from $38.00 to $56.00. They now have a “hold” rating on the stock.
• 12/4/2024 – Core & Main had its price target raised by analysts at Loop Capital from $52.00 to $63.00. They now have a “buy” rating on the stock.
• 10/16/2024 – Core & Main had its price target raised by analysts at Robert W. Baird from $53.00 to $60.00. They now have an “outperform” rating on the stock.

Core & Main Stock Performance

CNM stock opened at $52.40 on Friday. The company has a market cap of $10.54 billion, a P/E ratio of 24.60, a price-to-earnings-growth ratio of 2.97 and a beta of 1.04. The business’s fifty day moving average is $46.35 and its 200-day moving average is $47.92. The company has a quick ratio of 1.28, a current ratio of 2.14 and a debt-to-equity ratio of 1.36. Core & Main, Inc. has a twelve month low of $37.22 and a twelve month high of $62.15.

Core & Main (NYSE:CNM) last released its 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 firm had revenue of $2.04 billion during the quarter, compared to analysts’ expectations of $1.99 billion. Core & Main had a return on equity of 24.71% and a net margin of 5.71%. The company’s revenue was up 11.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.65 EPS. Equities research analysts forecast that Core & Main, Inc. will post 2.16 EPS for the current year.

Insider Buying and Selling

In other news, EVP Jeffrey D. Giles sold 25,000 shares of the company’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $54.71, for a total transaction of $1,367,750.00. Following the completion of the sale, the executive vice president now directly owns 11,615 shares in the company, valued at approximately $635,456.65. This represents a 68.28 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, President Bradford A. Cowles sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $55.07, for a total transaction of $2,753,500.00. Following the sale, the president now directly owns 18,423 shares of the company’s stock, valued at approximately $1,014,554.61. This trade represents a 73.07 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 290,000 shares of company stock valued at $15,926,000. Company insiders own 3.49% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Ashton Thomas Securities LLC bought a new position in shares of Core & Main during the 3rd quarter valued at approximately $26,000. ORG Wealth Partners LLC bought a new position in Core & Main during the third quarter valued at $31,000. Wilmington Savings Fund Society FSB purchased a new stake in Core & Main in the third quarter worth $49,000. GAMMA Investing LLC raised its stake in shares of Core & Main by 61.1% in 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. purchased a new position in shares of Core & Main during the 2nd quarter valued at $76,000. Institutional investors and hedge funds own 94.19% of the company’s stock.

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.