Core & Main (NYSE:CNM) Given New $57.00 Price Target at The Goldman Sachs Group

Core & Main (NYSE:CNM) had its price target increased by The Goldman Sachs Group from $50.00 to $57.00 in a research report sent to investors on Thursday morning,Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the stock.

Several other research firms have also recently issued reports on CNM. Robert W. Baird boosted their target price on Core & Main from $60.00 to $66.00 and gave the stock an “outperform” rating in a research report on Wednesday. Loop Capital increased their price objective on Core & Main from $52.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday. Bank of America decreased their target price on shares of Core & Main from $38.00 to $34.00 and set an “underperform” rating on the stock in a research report on Thursday, September 5th. JPMorgan Chase & Co. cut their price target on shares of Core & Main from $54.00 to $52.00 and set an “overweight” rating for the company in a report on Tuesday, September 3rd. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $62.00 price objective (up previously from $53.00) on shares of Core & Main in a report on Wednesday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $58.10.

Core & Main Price Performance

Shares of NYSE CNM opened at $53.86 on Thursday. The stock has a fifty day moving average price of $45.60 and a 200 day moving average price of $48.11. Core & Main has a 1-year low of $35.70 and a 1-year high of $62.15. The company has a debt-to-equity ratio of 1.36, a current ratio of 2.14 and a quick ratio of 1.34. The company has a market cap of $10.83 billion, a PE ratio of 25.29, a P/E/G ratio of 3.59 and a beta of 1.04.

Core & Main (NYSE:CNM) last released its earnings results on Tuesday, December 3rd. The company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.65 by $0.04. Core & Main had a net margin of 5.71% and a return on equity of 24.71%. The company had revenue of $2.04 billion during the quarter, compared to analysts’ expectations of $1.99 billion. During the same quarter last year, the business earned $0.65 EPS. The business’s revenue was up 11.5% on a year-over-year basis. Sell-side analysts forecast that Core & Main will post 2.14 EPS for the current year.

Insider Activity at Core & Main

In other news, CEO Stephen O. Leclair sold 200,000 shares of the company’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $54.88, for a total value of $10,976,000.00. Following the sale, the chief executive officer now directly owns 92,349 shares in the company, valued at $5,068,113.12. This represents a 68.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Bradford A. Cowles sold 50,000 shares of the stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $55.07, for a total value of $2,753,500.00. Following the sale, the president now directly owns 18,423 shares in the company, valued at approximately $1,014,554.61. The trade was a 73.07 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 290,000 shares of company stock valued at $15,926,000. 3.49% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Core & Main

Several institutional investors and hedge funds have recently modified their holdings of the company. Rhumbline Advisers grew its stake in Core & Main by 6.2% in the 2nd quarter. Rhumbline Advisers now owns 508,554 shares of the company’s stock worth $24,889,000 after acquiring an additional 29,490 shares during the period. Eagle Asset Management Inc. grew its position in shares of Core & Main by 2.6% in the third quarter. Eagle Asset Management Inc. now owns 1,720,496 shares of the company’s stock valued at $74,979,000 after purchasing an additional 44,282 shares during the period. Quest Partners LLC increased its stake in Core & Main by 1,195,600.0% in the third quarter. Quest Partners LLC now owns 11,957 shares of the company’s stock valued at $531,000 after purchasing an additional 11,956 shares during the last quarter. SG Americas Securities LLC lifted its position in Core & Main by 542.1% during the second quarter. SG Americas Securities LLC now owns 39,415 shares of the company’s stock worth $1,929,000 after buying an additional 33,277 shares during the period. Finally, South Street Advisors LLC acquired a new stake in Core & Main in the 2nd quarter worth about $8,427,000. Hedge funds and other institutional investors own 94.19% of the company’s stock.

About Core & Main

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 sets, meter accessories, installation, software, and other services.