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Core & Main (NYSE:CNM - Get Rating) had its price target lifted by Royal Bank of Canada from $25.00 to $27.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Royal Bank of Canada's price objective indicates a potential upside of 9.14% from the stock's previous close.
A number of other research firms have also commented on CNM. Credit Suisse Group upped their price objective on shares of Core & Main from $29.00 to $32.00 and gave the company an "outperform" rating in a research note on Wednesday. Robert W. Baird upped their price objective on shares of Core & Main from $27.00 to $30.00 and gave the company an "outperform" rating in a research note on Wednesday. Barclays reduced their price objective on shares of Core & Main from $29.00 to $28.00 and set an "overweight" rating for the company in a research note on Thursday, July 14th. Citigroup upped their price objective on shares of Core & Main from $25.00 to $26.00 in a research note on Wednesday. Finally, Truist Financial increased their price target on shares of Core & Main from $25.00 to $28.00 and gave the stock a "hold" rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Core & Main has a consensus rating of "Hold" and an average target price of $29.00.Core & Main Stock Performance
Shares of CNM opened at $24.74 on Thursday. The firm has a 50-day moving average price of $23.54 and a 200 day moving average price of $23.22. The firm has a market capitalization of $6.08 billion, a PE ratio of 13.45, a P/E/G ratio of 1.12 and a beta of 1.08. The company has a quick ratio of 1.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.75. Core & Main has a 52-week low of $20.00 and a 52-week high of $32.54.
Core & Main (NYSE:CNM - Get Rating) last posted its quarterly earnings data on Tuesday, September 13th. The company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.16. Core & Main had a net margin of 5.13% and a return on equity of 24.33%. The company had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.65 billion. During the same quarter last year, the firm posted $0.10 EPS. The business's revenue for the quarter was up 43.4% on a year-over-year basis. On average, sell-side analysts anticipate that Core & Main will post 1.62 earnings per share for the current fiscal year. Insider Activity at Core & Main
In related news, CEO Stephen O. Leclair sold 25,270 shares of the firm's stock in a transaction that occurred on Tuesday, August 16th. The shares were sold at an average price of $24.61, for a total transaction of $621,894.70. Following the transaction, the chief executive officer now owns 35,742 shares of the company's stock, valued at $879,610.62. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CEO Stephen O. Leclair sold 25,270 shares of the business's stock in a transaction on Tuesday, August 16th. The shares were sold at an average price of $24.61, for a total value of $621,894.70. Following the completion of the sale, the chief executive officer now directly owns 35,742 shares in the company, valued at $879,610.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Stephen O. Leclair sold 14,730 shares of the business's stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $24.54, for a total transaction of $361,474.20. Following the transaction, the chief executive officer now directly owns 35,742 shares of the company's stock, valued at approximately $877,108.68. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 104,537 shares of company stock valued at $2,592,657. 1.20% of the stock is currently owned by corporate insiders. Institutional Investors Weigh In On Core & Main
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Select Equity Group L.P. boosted its holdings in Core & Main by 35.0% in the 1st quarter. Select Equity Group L.P. now owns 11,639,083 shares of the company's stock valued at $281,549,000 after purchasing an additional 3,018,351 shares during the period. Vanguard Group Inc. grew its position in Core & Main by 58.6% during the first quarter. Vanguard Group Inc. now owns 4,472,479 shares of the company's stock worth $108,189,000 after buying an additional 1,652,035 shares in the last quarter. Victory Capital Management Inc. increased its stake in Core & Main by 35.7% during the first quarter. Victory Capital Management Inc. now owns 3,066,930 shares of the company's stock valued at $74,189,000 after acquiring an additional 807,045 shares during the period. Robeco Schweiz AG raised its holdings in Core & Main by 15.5% in the 2nd quarter. Robeco Schweiz AG now owns 2,480,878 shares of the company's stock valued at $55,324,000 after acquiring an additional 333,278 shares in the last quarter. Finally, BlackRock Inc. lifted its position in shares of Core & Main by 55.9% in the 1st quarter. BlackRock Inc. now owns 2,148,449 shares of the company's stock worth $51,972,000 after acquiring an additional 770,677 shares during the period. Institutional investors and hedge funds own 94.93% of the company's stock. About Core & Main (Get Rating)
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 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, and other related products; fire protection products, including fire protection pipes, sprinkler heads and other devices, fire suppression systems, and related accessories, as well as fabrication services; and meter products, such as smart meter products, installation, software and other services.Further ReadingGet a free copy of the StockNews.com research report on Core & Main (CNM)Murphy USA Outperforming Other Mid-caps, But Is It A Buy Now?Has 3M Reached the Point of Being so Bad It’s Good? Is This Medical Gear Maker Ready To Continue Its Rally? The Five (5) Hottest Stocks To Watch Ahead Of Q3 Earnings Has Take-Two Interactive Devolved into a One-Trick Pony?
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