Core & Main (NYSE:CNM) Price Target Lowered to $60.00 at Royal Bank of Canada

Core & Main (NYSE:CNM) had its target price cut by Royal Bank of Canada from $62.00 to $60.00 in a research report sent to investors on Wednesday morning,Benzinga reports. They currently have an outperform rating on the stock.

CNM has been the topic of a number of other reports. Barclays raised their price objective on Core & Main from $57.00 to $65.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Citigroup lifted their price target on shares of Core & Main from $43.00 to $56.00 and gave the stock a “neutral” rating in a research note on Monday, January 6th. Wells Fargo & Company upped their price objective on shares of Core & Main from $62.00 to $65.00 and gave the company an “overweight” rating in a research note on Tuesday, February 4th. Robert W. Baird decreased their target price on shares of Core & Main from $66.00 to $65.00 and set an “outperform” rating on the stock in a research report on Wednesday. Finally, Loop Capital boosted their price target on shares of Core & Main from $52.00 to $63.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $57.30.

Core & Main Trading Down 3.0 %

Shares of Core & Main stock opened at $48.46 on Wednesday. The stock’s 50-day simple moving average is $51.87 and its 200 day simple moving average is $48.81. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.28 and a current ratio of 2.14. Core & Main has a 52-week low of $37.22 and a 52-week high of $62.15. The stock has a market capitalization of $9.63 billion, a P/E ratio of 22.75, a P/E/G ratio of 2.61 and a beta of 1.05.

Core & Main (NYSE:CNM) last announced its earnings results on Tuesday, March 25th. The company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.03). Core & Main had a return on equity of 24.71% and a net margin of 5.71%. The company had revenue of $1.70 billion during the quarter, compared to analysts’ expectations of $1.67 billion. During the same quarter last year, the firm posted $0.34 earnings per share. The firm’s revenue was up 17.9% on a year-over-year basis. As a group, research analysts anticipate that Core & Main will post 2.16 EPS for the current year.

Insider Buying and Selling

In other news, EVP John R. Schaller sold 60,452 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $50.57, for a total value of $3,057,057.64. Following the transaction, the executive vice president now owns 17,898 shares in the company, valued at approximately $905,101.86. This represents a 77.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, President Bradford A. Cowles sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $54.48, for a total transaction of $1,362,000.00. Following the completion of the transaction, the president now owns 16,010 shares of the company’s stock, valued at approximately $872,224.80. The trade was a 60.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 184,294 shares of company stock worth $9,383,685 in the last quarter. Corporate insiders own 3.49% of the company’s stock.

Hedge Funds Weigh In On Core & Main

Several hedge funds and other institutional investors have recently bought and sold shares of CNM. Avior Wealth Management LLC lifted its position in Core & Main by 51.3% during the fourth quarter. Avior Wealth Management LLC now owns 799 shares of the company’s stock valued at $41,000 after purchasing an additional 271 shares during the period. Wilmington Savings Fund Society FSB bought a new position in shares of Core & Main during the 3rd quarter valued at $49,000. UMB Bank n.a. grew its holdings in shares of Core & Main by 246.0% in the fourth quarter. UMB Bank n.a. now owns 962 shares of the company’s stock worth $49,000 after acquiring an additional 684 shares during the period. Quadrant Capital Group LLC increased its position in Core & Main by 30.1% during the fourth quarter. Quadrant Capital Group LLC now owns 1,203 shares of the company’s stock valued at $61,000 after acquiring an additional 278 shares during the last quarter. Finally, Blue Trust Inc. lifted its holdings in Core & Main by 187.4% in the fourth quarter. Blue Trust Inc. now owns 1,273 shares of the company’s stock valued at $65,000 after acquiring an additional 830 shares during the period. Institutional investors own 94.19% of the company’s stock.

About Core & Main

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.