Citigroup Increases Core & Main (NYSE:CNM) Price Target to $56.00

Core & Main (NYSE:CNM) had its price objective boosted by Citigroup from $43.00 to $56.00 in a research report report published on Monday,Benzinga reports. They currently have a neutral rating on the stock.

A number of other equities analysts also recently commented on the stock. Truist Financial boosted their target price on shares of Core & Main from $38.00 to $56.00 and gave the stock a “hold” rating in a research note on Wednesday, December 4th. Robert W. Baird upped their price target on shares of Core & Main from $60.00 to $66.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. The Goldman Sachs Group boosted their price objective on shares of Core & Main from $50.00 to $57.00 and gave the company a “neutral” rating in a research report on Thursday, December 5th. Wells Fargo & Company increased their price objective on shares of Core & Main from $52.00 to $62.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Finally, Loop Capital raised their target price on shares of Core & Main from $52.00 to $63.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Core & Main presently has an average rating of “Moderate Buy” and an average target price of $57.30.

Core & Main Stock Up 0.6 %

Shares of CNM stock opened at $51.19 on Monday. The company has a 50 day simple moving average of $48.79 and a two-hundred day simple moving average of $47.77. The stock has a market cap of $10.17 billion, a P/E ratio of 24.03, a P/E/G ratio of 2.95 and a beta of 1.02. The company has a current ratio of 2.14, a quick ratio of 1.28 and a debt-to-equity ratio of 1.36. Core & Main has a 12 month low of $37.22 and a 12 month high of $62.15.

Core & Main (NYSE:CNM) last posted its quarterly earnings data on Tuesday, December 3rd. The company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.04. Core & Main had a return on equity of 24.71% and a net margin of 5.71%. The company had revenue of $2.04 billion during the quarter, compared to analysts’ expectations of $1.99 billion. During the same quarter in the previous year, the business earned $0.65 EPS. Core & Main’s revenue was up 11.5% compared to the same quarter last year. On average, research analysts expect that Core & Main will post 2.16 earnings per share for the current year.

Insider Activity at Core & Main

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

Institutional Trading of Core & Main

A number of hedge funds have recently made changes to their positions in the business. Eagle Asset Management Inc. increased its holdings in Core & Main by 2.6% in the 3rd quarter. Eagle Asset Management Inc. now owns 1,720,496 shares of the company’s stock worth $74,979,000 after purchasing an additional 44,282 shares in the last quarter. Quest Partners LLC lifted its holdings in Core & Main by 1,195,600.0% during the third quarter. Quest Partners LLC now owns 11,957 shares of the company’s stock valued at $531,000 after purchasing an additional 11,956 shares during the last quarter. B. Riley Wealth Advisors Inc. bought a new position in Core & Main in the 3rd quarter valued at $774,000. South Street Advisors LLC bought a new position in Core & Main in the second quarter valued at $8,427,000. Finally, Douglass Winthrop Advisors LLC grew its position in Core & Main by 23.3% during the third quarter. Douglass Winthrop Advisors LLC now owns 70,272 shares of the company’s stock valued at $3,120,000 after acquiring an additional 13,263 shares during the last quarter. 94.19% of the stock is owned by institutional investors and hedge funds.

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.