The Goldman Sachs Group Increases Core & Main (NYSE:CNM) Price Target to $61.00

Core & Main (NYSE:CNM) had its target price increased by analysts at The Goldman Sachs Group from $42.00 to $61.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has a “neutral” rating on the stock. The Goldman Sachs Group’s target price indicates a potential upside of 7.45% from the company’s current price.

Several other equities analysts have also weighed in on CNM. Citigroup lifted their price objective on Core & Main from $48.00 to $63.00 and gave the company a “buy” rating in a research note on Thursday, March 21st. Truist Financial reissued a “hold” rating and set a $38.00 price target on shares of Core & Main in a research report on Wednesday, March 20th. Royal Bank of Canada boosted their price target on Core & Main from $59.00 to $60.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 20th. Barclays boosted their price target on Core & Main from $49.00 to $65.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 20th. Finally, Loop Capital boosted their price target on Core & Main from $58.00 to $64.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, Core & Main presently has a consensus rating of “Moderate Buy” and a consensus target price of $50.00.

Core & Main Stock Down 0.9 %

CNM opened at $56.77 on Tuesday. The stock has a market capitalization of $12.28 billion, a price-to-earnings ratio of 26.40, a price-to-earnings-growth ratio of 1.85 and a beta of 1.11. Core & Main has a 12 month low of $21.32 and a 12 month high of $58.26. The company has a debt-to-equity ratio of 1.22, a current ratio of 2.29 and a quick ratio of 1.30. The business has a 50-day moving average of $46.77 and a two-hundred day moving average of $38.47.

Core & Main (NYSE:CNM) last released its quarterly earnings data on Tuesday, March 19th. The company reported $0.34 earnings per share for the quarter, meeting the consensus estimate of $0.34. The business had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.43 billion. Core & Main had a return on equity of 18.22% and a net margin of 5.54%. The company’s revenue was up 4.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.31 EPS. On average, research analysts expect that Core & Main will post 2.58 earnings per share for the current year.

Insiders Place Their Bets

In other news, major shareholder Cd&R Investment Associates X, sold 22,907,815 shares of the business’s stock in a transaction that occurred on Thursday, January 25th. The stock was sold at an average price of $40.98, for a total value of $938,762,258.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, major shareholder Cd&R Investment Associates X, sold 22,907,815 shares of the business’s stock in a transaction that occurred on Thursday, January 25th. The stock was sold at an average price of $40.98, for a total value of $938,762,258.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Stephen O. Leclair sold 150,000 shares of the business’s stock in a transaction that occurred on Thursday, January 11th. The shares were sold at an average price of $40.66, for a total value of $6,099,000.00. Following the completion of the sale, the chief executive officer now owns 73,692 shares of the company’s stock, valued at $2,996,316.72. The disclosure for this sale can be found here. Insiders have sold 46,334,043 shares of company stock worth $1,836,262,410 in the last three months. 3.49% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in CNM. Norges Bank bought a new position in Core & Main during the 4th quarter worth $108,023,000. Vanguard Group Inc. grew its stake in Core & Main by 41.4% during the 4th quarter. Vanguard Group Inc. now owns 13,417,484 shares of the company’s stock worth $542,201,000 after buying an additional 3,926,588 shares during the last quarter. Morgan Stanley boosted its position in Core & Main by 423.6% during the 4th quarter. Morgan Stanley now owns 3,526,994 shares of the company’s stock worth $68,106,000 after acquiring an additional 2,853,438 shares during the period. FMR LLC boosted its position in Core & Main by 51.1% during the 3rd quarter. FMR LLC now owns 7,865,719 shares of the company’s stock worth $226,926,000 after acquiring an additional 2,660,097 shares during the period. Finally, Pacer Advisors Inc. acquired a new position in Core & Main during the 4th quarter worth $91,771,000. 94.19% of the stock is currently owned by institutional investors.

Core & Main Company Profile

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.