Core & Main, Inc. (NYSE:CNM) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Core & Main, Inc. (NYSE:CNM) has received a consensus recommendation of “Moderate Buy” from the twelve analysts that are covering the company, Marketbeat.com reports. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $56.70.

Several research analysts have commented on CNM shares. The Goldman Sachs Group reissued a “neutral” rating and set a $24.00 target price on shares of Core & Main in a research note on Thursday, June 11th. William Blair assumed coverage on shares of Core & Main in a research note on Thursday, July 23rd. They issued a “market perform” rating on the stock. Wall Street Zen raised shares of Core & Main from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Citigroup lowered their price objective on shares of Core & Main from $54.00 to $53.00 and set a “neutral” rating for the company in a research report on Thursday, June 11th.

Insiders Place Their Bets

In related news, Director James D. Hope bought 2,067 shares of the firm’s stock in a transaction on Monday, July 6th. The shares were purchased at an average price of $46.01 per share, with a total value of $95,102.67. Following the completion of the purchase, the director owned 11,805 shares in the company, valued at $543,148.05. This represents a 21.23% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 1.51% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. TD Waterhouse Canada Inc. acquired a new position in Core & Main in the 4th quarter worth about $26,000. EverSource Wealth Advisors LLC raised its position in Core & Main by 145.4% in the second quarter. EverSource Wealth Advisors LLC now owns 454 shares of the company’s stock valued at $27,000 after purchasing an additional 269 shares during the last quarter. Whittier Trust Co. acquired a new stake in shares of Core & Main during the fourth quarter valued at about $28,000. Cubist Systematic Strategies LLC boosted its stake in shares of Core & Main by 262.0% during the first quarter. Cubist Systematic Strategies LLC now owns 724 shares of the company’s stock valued at $35,000 after purchasing an additional 524 shares in the last quarter. Finally, Quarry LP acquired a new stake in shares of Core & Main during the fourth quarter valued at about $38,000. 94.19% of the stock is currently owned by institutional investors.

Core & Main Price Performance

Shares of CNM stock opened at $43.95 on Wednesday. The business has a fifty day simple moving average of $47.24 and a 200 day simple moving average of $50.65. The company has a market cap of $8.51 billion, a P/E ratio of 18.62, a P/E/G ratio of 1.50 and a beta of 0.91. The company has a quick ratio of 1.31, a current ratio of 2.31 and a debt-to-equity ratio of 1.00. Core & Main has a twelve month low of $42.50 and a twelve month high of $67.18.

About Core & Main

Core & Main, Inc (NYSE:CNM) is a leading distributor of water, sewer, storm drainage and fire protection products across North America. The company’s product portfolio includes valves, hydrants, pipe and fittings, meters, couplings and other essential components that support municipal, industrial and environmental infrastructure projects. By combining a comprehensive inventory with logistics and technical support, Core & Main helps customers address complex water system and distribution challenges.

With more than 300 branch locations and over 3,500 employees, Core & Main serves a diverse customer base that includes municipalities, contractors, engineers and utility providers.