Core & Main (NYSE:CNM) Rating Increased to Buy at Wall Street Zen

Core & Main (NYSE:CNM) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Saturday.

CNM has been the topic of a number of other reports. Citigroup lowered their price target on shares of Core & Main from $54.00 to $53.00 and set a “neutral” rating on the stock in a research report on Thursday, June 11th. William Blair started coverage on shares of Core & Main in a research note on Thursday. They issued a “market perform” rating on the stock. Finally, The Goldman Sachs Group restated a “neutral” rating and set a $24.00 target price on shares of Core & Main in a report on Thursday, June 11th. Seven investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, Core & Main has a consensus rating of “Moderate Buy” and a consensus price target of $57.73.

Core & Main Price Performance

Core & Main stock opened at $43.69 on Friday. Core & Main has a 52-week low of $42.50 and a 52-week high of $67.18. The firm has a market capitalization of $8.45 billion, a price-to-earnings ratio of 18.51, a PEG ratio of 1.50 and a beta of 0.91. The company has a fifty day simple moving average of $47.31 and a 200-day simple moving average of $50.83. The company has a quick ratio of 1.31, a current ratio of 2.31 and a debt-to-equity ratio of 1.00.

Insider Buying and Selling at Core & Main

In other news, Director James D. Hope purchased 2,067 shares of the company’s stock in a transaction dated Monday, July 6th. The stock was acquired at an average price of $46.01 per share, with a total value of $95,102.67. Following the purchase, the director directly owned 11,805 shares in the company, valued at approximately $543,148.05. This represents a 21.23% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. 1.51% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Core & Main

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. TD Waterhouse Canada Inc. acquired a new position in shares of Core & Main in the 4th quarter valued at $26,000. EverSource Wealth Advisors LLC increased its position in shares of Core & Main by 145.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 454 shares of the company’s stock worth $27,000 after purchasing an additional 269 shares during the last quarter. Whittier Trust Co. acquired a new stake in shares of Core & Main during the 4th quarter worth about $28,000. Cubist Systematic Strategies LLC raised its holdings in Core & Main by 262.0% in the 1st quarter. Cubist Systematic Strategies LLC now owns 724 shares of the company’s stock valued at $35,000 after buying an additional 524 shares during the period. Finally, Quarry LP purchased a new stake in Core & Main in the 4th quarter valued at about $38,000. Hedge funds and other institutional investors own 94.19% of the company’s stock.

About Core & Main

Core & Main, Inc (NYSE:CNM) is a leading distributor of water, sewer, storm drainage and fire protection products across North America. The company’s product portfolio includes valves, hydrants, pipe and fittings, meters, couplings and other essential components that support municipal, industrial and environmental infrastructure projects. By combining a comprehensive inventory with logistics and technical support, Core & Main helps customers address complex water system and distribution challenges.

With more than 300 branch locations and over 3,500 employees, Core & Main serves a diverse customer base that includes municipalities, contractors, engineers and utility providers.