Analysts Set Core & Main, Inc. (NYSE:CNM) Target Price at $57.60

Shares of Core & Main, Inc. (NYSE:CNM) have been assigned a consensus rating of “Moderate Buy” from the ten research firms that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $57.60.

Several research firms recently weighed in on CNM. Wells Fargo & Company increased their target price on Core & Main from $62.00 to $65.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 4th. Citigroup increased their target price on Core & Main from $43.00 to $56.00 and gave the stock a “neutral” rating in a research report on Monday, January 6th. Robert W. Baird upped their price target on Core & Main from $60.00 to $66.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Truist Financial upped their price target on Core & Main from $38.00 to $56.00 and gave the stock a “hold” rating in a research note on Wednesday, December 4th. Finally, Barclays upped their price target on Core & Main from $57.00 to $65.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th.

Core & Main Stock Down 2.8 %

Shares of NYSE:CNM opened at $46.20 on Friday. The stock’s fifty day simple moving average is $52.69 and its 200-day simple moving average is $48.55. Core & Main has a 52-week low of $37.22 and a 52-week high of $62.15. The company has a market capitalization of $9.18 billion, a P/E ratio of 21.69, a P/E/G ratio of 2.61 and a beta of 1.05. The company has a quick ratio of 1.28, a current ratio of 2.14 and a debt-to-equity ratio of 1.36.

Insider Buying and Selling at Core & Main

In other Core & Main news, General Counsel Mark G. Whittenburg sold 1,974 shares of the stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $55.29, for a total transaction of $109,142.46. Following the transaction, the general counsel now owns 7,667 shares of the company’s stock, valued at $423,908.43. This trade represents a 20.48 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, President Bradford A. Cowles sold 12,500 shares of the stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $50.50, for a total value of $631,250.00. Following the transaction, the president now directly owns 16,010 shares in the company, valued at approximately $808,505. This represents a 43.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 184,294 shares of company stock worth $9,383,685 in the last 90 days. 3.49% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Raymond James Financial Inc. bought a new stake in shares of Core & Main in the 4th quarter worth approximately $115,555,000. PointState Capital LP bought a new stake in shares of Core & Main in the 3rd quarter worth approximately $100,013,000. Norges Bank bought a new stake in shares of Core & Main in the 4th quarter worth approximately $99,734,000. FMR LLC lifted its holdings in shares of Core & Main by 28.0% in the 3rd quarter. FMR LLC now owns 8,697,084 shares of the company’s stock worth $386,151,000 after purchasing an additional 1,903,280 shares during the last quarter. Finally, Impax Asset Management Group plc raised its stake in Core & Main by 373.0% during the 3rd quarter. Impax Asset Management Group plc now owns 2,013,880 shares of the company’s stock valued at $89,416,000 after acquiring an additional 1,588,117 shares in the last quarter. Institutional investors own 94.19% of the company’s stock.

Core & Main Company Profile

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.