Core & Main (NYSE:CNM) Now Covered by Analysts at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft assumed coverage on shares of Core & Main (NYSE:CNM) in a research report issued to clients and investors on Tuesday,Briefing.com Automated Import reports. The brokerage set a “buy” rating and a $60.00 price target on the stock. Deutsche Bank Aktiengesellschaft’s price target suggests a potential upside of 24.14% from the company’s current price.

Several other equities analysts have also commented on CNM. Royal Bank of Canada dropped their price target on shares of Core & Main from $62.00 to $60.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 26th. Robert W. Baird reduced their price objective on Core & Main from $66.00 to $65.00 and set an “outperform” rating for the company in a research note on Wednesday, March 26th. Citigroup lifted their target price on Core & Main from $43.00 to $56.00 and gave the company a “neutral” rating in a research note on Monday, January 6th. Barclays increased their price target on Core & Main from $57.00 to $65.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Finally, Wells Fargo & Company raised their target price on shares of Core & Main from $62.00 to $65.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 4th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $57.55.

Core & Main Stock Down 0.3 %

Shares of NYSE:CNM opened at $48.33 on Tuesday. The business has a 50-day moving average price of $51.73 and a 200 day moving average price of $49.01. Core & Main has a 12-month low of $37.22 and a 12-month high of $62.15. The company has a current ratio of 2.14, a quick ratio of 1.28 and a debt-to-equity ratio of 1.36. The company has a market capitalization of $9.60 billion, a price-to-earnings ratio of 22.69, a PEG ratio of 2.61 and a beta of 1.05.

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

Insider Buying and Selling

In other news, President Bradford A. Cowles sold 12,500 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $50.50, for a total transaction of $631,250.00. Following the completion of the sale, the president now owns 16,010 shares of the company’s stock, valued at approximately $808,505. This trade represents a 43.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Mark G. Whittenburg sold 50,000 shares of the stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $50.49, for a total value of $2,524,500.00. Following the transaction, the general counsel now directly owns 7,667 shares in the company, valued at approximately $387,106.83. This represents a 86.70 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 184,294 shares of company stock valued at $9,383,685 in the last quarter. Company insiders own 3.49% of the company’s stock.

Institutional Investors Weigh In On Core & Main

Several large investors have recently made changes to their positions in CNM. Raymond James Financial Inc. acquired a new stake in Core & Main in the 4th quarter valued at approximately $115,555,000. PointState Capital LP acquired a new position in shares of Core & Main in the 3rd quarter worth $100,013,000. Norges Bank acquired a new stake in shares of Core & Main during the fourth quarter worth $99,734,000. Impax Asset Management Group plc boosted its position in shares of Core & Main by 70.4% in the 4th quarter. Impax Asset Management Group plc now owns 3,430,787 shares of the company’s stock valued at $174,661,000 after purchasing an additional 1,416,907 shares during the period. Finally, Spruce House Investment Management LLC increased its stake in Core & Main by 400.0% in the 3rd quarter. Spruce House Investment Management LLC now owns 1,500,000 shares of the company’s stock worth $66,600,000 after purchasing an additional 1,200,000 shares in the last quarter. Institutional investors and hedge funds 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.