Core & Main (NYSE:CNM) Price Target Increased to $49.00 by Analysts at Barclays
Core & Main (NYSE:CNM – Get Free Report) had its target price boosted by Barclays from $38.00 to $49.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s price target would indicate a potential upside of 32.50% from the stock’s current price.
A number of other analysts have also recently issued reports on the company. The Goldman Sachs Group boosted their price objective on Core & Main from $34.00 to $38.00 and gave the company a “neutral” rating in a research report on Thursday. Credit Suisse Group boosted their price objective on Core & Main from $28.00 to $33.00 in a research report on Thursday, September 7th. Robert W. Baird boosted their price objective on Core & Main from $34.00 to $38.00 in a research report on Thursday, September 7th. Loop Capital boosted their price objective on Core & Main from $33.00 to $38.00 in a research report on Friday, August 11th. Finally, Royal Bank of Canada upped their price target on Core & Main from $34.00 to $38.00 and gave the company an “outperform” rating in a research report on Tuesday, November 28th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, Core & Main has a consensus rating of “Moderate Buy” and a consensus price target of $38.27.
Check Out Our Latest Analysis on CNM
Core & Main Stock Performance
NYSE CNM traded up $0.58 during trading on Friday, hitting $36.98. The company’s stock had a trading volume of 135,932 shares, compared to its average volume of 1,495,289. The company has a quick ratio of 1.53, a current ratio of 2.59 and a debt-to-equity ratio of 0.70. The firm has a 50 day moving average price of $32.08 and a 200 day moving average price of $30.78. The firm has a market cap of $8.37 billion, a P/E ratio of 17.44, a price-to-earnings-growth ratio of 2.92 and a beta of 1.02. Core & Main has a 52 week low of $18.75 and a 52 week high of $37.96.
Core & Main (NYSE:CNM – Get Free Report) last issued its quarterly earnings results on Tuesday, December 5th. The company reported $0.65 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.03). The business had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.82 billion. Core & Main had a return on equity of 15.75% and a net margin of 5.45%. The business’s quarterly revenue was up .5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.65 earnings per share. Equities research analysts forecast that Core & Main will post 1.97 earnings per share for the current fiscal year.
Insider Activity
In other news, major shareholder Cd&R Investment Associates X, sold 21,125,728 shares of the company’s stock in a transaction on Tuesday, September 19th. The stock was sold at an average price of $29.01, for a total transaction of $612,857,369.28. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, President Bradford A. Cowles sold 50,000 shares of the company’s stock in a transaction dated Thursday, October 12th. The stock was sold at an average price of $31.94, for a total value of $1,597,000.00. Following the completion of the sale, the president now owns 14,679 shares in the company, valued at $468,847.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Cd&R Investment Associates X, sold 21,125,728 shares of the stock in a transaction dated Tuesday, September 19th. The stock was sold at an average price of $29.01, for a total value of $612,857,369.28. The disclosure for this sale can be found here. Insiders have sold 46,354,366 shares of company stock valued at $1,381,166,812 over the last 90 days. 3.49% of the stock is owned by company insiders.
Institutional Investors Weigh In On Core & Main
Large investors have recently modified their holdings of the business. Mitsubishi UFJ Trust & Banking Corp bought a new stake in shares of Core & Main in the third quarter worth about $28,000. Penserra Capital Management LLC bought a new stake in shares of Core & Main in the second quarter worth about $31,000. Harbor Investment Advisory LLC bought a new stake in shares of Core & Main in the third quarter worth about $33,000. PNC Financial Services Group Inc. bought a new stake in shares of Core & Main in the second quarter worth about $43,000. Finally, Kepos Capital LP bought a new stake in shares of Core & Main in the third quarter worth about $41,000. 94.19% of the stock is currently owned by institutional investors.
Core & Main Company Profile (Get Free Report)
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 accessories, installation, software, and other services.
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