Barclays Boosts Core & Main (NYSE:CNM) Price Target to $31.00

Core & Main (NYSE:CNMGet Rating) had its price target raised by Barclays to $31.00 in a research note released on Tuesday, Stock Target Advisor reports.

Other equities research analysts have also issued research reports about the company. Robert W. Baird lifted their price objective on Core & Main from $27.00 to $30.00 and gave the company an outperform rating in a report on Wednesday, September 14th. Deutsche Bank Aktiengesellschaft assumed coverage on Core & Main in a research note on Wednesday, August 17th. They issued a buy rating and a $40.00 target price on the stock. Credit Suisse Group upped their target price on Core & Main from $29.00 to $32.00 and gave the company an outperform rating in a research note on Wednesday, September 14th. Royal Bank of Canada boosted their price target on Core & Main from $25.00 to $27.00 and gave the company an outperform rating in a report on Thursday, September 15th. Finally, The Goldman Sachs Group boosted their price target on Core & Main from $26.00 to $29.00 and gave the company a neutral rating in a report on Wednesday, September 14th. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Core & Main currently has a consensus rating of Hold and an average price target of $29.30.

Core & Main Stock Down 2.2 %

CNM opened at $22.26 on Tuesday. The business’s 50-day simple moving average is $23.70 and its 200-day simple moving average is $23.29. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.20 and a current ratio of 2.28. Core & Main has a one year low of $20.00 and a one year high of $32.54. The stock has a market capitalization of $5.47 billion, a P/E ratio of 12.10, a price-to-earnings-growth ratio of 0.87 and a beta of 1.08.

Core & Main (NYSE:CNMGet Rating) last issued its quarterly earnings results on Tuesday, September 13th. The company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.16. The firm had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.65 billion. Core & Main had a return on equity of 23.39% and a net margin of 5.13%. The firm’s revenue for the quarter was up 43.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.10 EPS. Analysts anticipate that Core & Main will post 1.94 EPS for the current year.

Insider Buying and Selling at Core & Main

In other Core & Main news, major shareholder Cd&R Investment Associates X, sold 11,000,000 shares of the company’s stock in a transaction dated Monday, September 19th. The shares were sold at an average price of $23.53, for a total value of $258,830,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, major shareholder Cd&R Investment Associates X, sold 11,000,000 shares of the stock in a transaction dated Monday, September 19th. The shares were sold at an average price of $23.53, for a total transaction of $258,830,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Laura K. Schneider sold 33,333 shares of the stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $25.08, for a total transaction of $835,991.64. Following the transaction, the insider now directly owns 4,866 shares in the company, valued at approximately $122,039.28. The disclosure for this sale can be found here. Insiders sold a total of 11,104,537 shares of company stock valued at $261,422,657 in the last ninety days. Insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On Core & Main

Large investors have recently modified their holdings of the stock. Assetmark Inc. raised its stake in Core & Main by 155.2% during the second quarter. Assetmark Inc. now owns 1,613 shares of the company’s stock worth $36,000 after acquiring an additional 981 shares during the period. UMB Bank N A MO acquired a new stake in Core & Main during the first quarter worth about $37,000. MetLife Investment Management LLC acquired a new stake in Core & Main during the first quarter worth about $58,000. Point72 Hong Kong Ltd acquired a new stake in Core & Main during the fourth quarter worth about $76,000. Finally, NN Investment Partners Holdings N.V. acquired a new stake in Core & Main during the first quarter worth about $102,000. Institutional investors own 94.93% of the company’s stock.

About Core & Main

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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.

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