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

Core & Main (NYSE:CNMGet Free Report) had its price objective raised by research analysts at Loop Capital from $63.00 to $68.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Loop Capital’s price target points to a potential upside of 19.93% from the company’s current price.

Other equities research analysts have also issued research reports about the company. Robert W. Baird dropped their target price on Core & Main from $66.00 to $65.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 26th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Core & Main in a research note on Tuesday, April 1st. They set a “buy” rating and a $60.00 target price on the stock. Royal Bank of Canada lifted their price target on shares of Core & Main from $60.00 to $67.00 and gave the company an “outperform” rating in a research note on Tuesday. JPMorgan Chase & Co. boosted their price objective on Core & Main from $54.00 to $56.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 27th. Finally, Citigroup upped their target price on shares of Core & Main from $56.00 to $62.00 and gave the stock a “neutral” rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Core & Main presently has an average rating of “Moderate Buy” and a consensus price target of $59.55.

Check Out Our Latest Stock Analysis on CNM

Core & Main Stock Down 1.3%

Shares of Core & Main stock opened at $56.70 on Wednesday. The company has a market cap of $11.22 billion, a P/E ratio of 26.62, a PEG ratio of 2.61 and a beta of 1.02. Core & Main has a 52-week low of $37.22 and a 52-week high of $60.38. The company has a quick ratio of 1.28, a current ratio of 2.14 and a debt-to-equity ratio of 1.36. The firm’s 50 day moving average price is $52.71 and its 200-day moving average price is $51.95.

Core & Main (NYSE:CNMGet Free Report) last issued its quarterly earnings results on Tuesday, June 10th. The company reported $0.52 earnings per share for the quarter, hitting the consensus estimate of $0.52. The business had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.84 billion. Core & Main had a return on equity of 24.71% and a net margin of 5.71%. The company’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter last year, the company earned $0.49 earnings per share. On average, sell-side analysts predict that Core & Main will post 2.16 EPS for the current fiscal year.

Insider Buying and Selling at Core & Main

In other Core & Main news, General Counsel Mark G. Whittenburg sold 900 shares of the business’s stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $60.03, for a total transaction of $54,027.00. Following the sale, the general counsel now directly owns 9,691 shares in the company, valued at $581,750.73. This represents a 8.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Laura K. Schneider sold 45,695 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $56.25, for a total transaction of $2,570,343.75. Following the sale, the insider now owns 12,873 shares in the company, valued at approximately $724,106.25. This trade represents a 78.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 157,666 shares of company stock valued at $8,770,352 over the last 90 days. 3.53% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Parallel Advisors LLC lifted its stake in Core & Main by 447.1% during the first quarter. Parallel Advisors LLC now owns 651 shares of the company’s stock worth $31,000 after purchasing an additional 532 shares during the last quarter. Cubist Systematic Strategies LLC lifted its stake in shares of Core & Main by 262.0% in the 1st quarter. Cubist Systematic Strategies LLC now owns 724 shares of the company’s stock worth $35,000 after acquiring an additional 524 shares during the period. Rossby Financial LCC purchased a new stake in Core & Main in the 1st quarter valued at approximately $37,000. CWM LLC boosted its stake in shares of Core & Main by 34.0% in the first quarter. CWM LLC now owns 839 shares of the company’s stock valued at $41,000 after buying an additional 213 shares in the last quarter. Finally, Versant Capital Management Inc boosted its position in shares of Core & Main by 1,491.8% during the 1st quarter. Versant Capital Management Inc now owns 1,162 shares of the company’s stock worth $56,000 after purchasing an additional 1,089 shares in the last quarter. Hedge funds and other institutional investors own 94.19% of the company’s stock.

Core & Main Company Profile

(Get Free Report)

Core & Main, Inc is a specialty distributor focused on water, wastewater, storm drainage and fire protection products, and related services. The company provides infrastructure solutions to municipalities, private water companies and professional contractors across municipal, non-residential, and residential end markets, nationwide.

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