Core & Main Sees Unusually High Options Volume (NYSE:CNM)

Core & Main, Inc. (NYSE:CNM) was the target of unusually large options trading on Monday. Stock investors purchased 3,044 call options on the company. This is an increase of approximately 76% compared to the average daily volume of 1,734 call options.

Core & Main Trading Down 0.5 %

NYSE CNM opened at $48.30 on Tuesday. The business’s fifty day moving average is $44.72 and its 200-day moving average is $48.18. The company has a debt-to-equity ratio of 1.40, a current ratio of 2.29 and a quick ratio of 1.34. The stock has a market capitalization of $9.71 billion, a price-to-earnings ratio of 22.99, a PEG ratio of 3.16 and a beta of 1.02. Core & Main has a one year low of $35.03 and a one year high of $62.15.

Core & Main (NYSE:CNM) last released its earnings results on Wednesday, September 4th. The company reported $0.61 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.13). The company had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $2.05 billion. Core & Main had a net margin of 5.58% and a return on equity of 21.91%. The firm’s revenue was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.66 earnings per share. Equities research analysts predict that Core & Main will post 2.1 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on CNM shares. The Goldman Sachs Group lowered their target price on Core & Main from $57.00 to $50.00 and set a “neutral” rating for the company in a research report on Friday, September 6th. Barclays cut their price objective on Core & Main from $65.00 to $57.00 and set an “overweight” rating on the stock in a research note on Thursday, September 5th. Royal Bank of Canada decreased their target price on shares of Core & Main from $60.00 to $53.00 and set an “outperform” rating for the company in a research report on Thursday, September 5th. Robert W. Baird boosted their price target on shares of Core & Main from $53.00 to $60.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Finally, Bank of America decreased their price objective on shares of Core & Main from $38.00 to $34.00 and set an “underperform” rating for the company in a research report on Thursday, September 5th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.20.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Ashton Thomas Securities LLC bought a new stake in Core & Main in the 3rd quarter valued at about $26,000. ORG Wealth Partners LLC bought a new stake in shares of Core & Main in the third quarter valued at approximately $31,000. Wilmington Savings Fund Society FSB bought a new position in Core & Main in the 3rd quarter worth approximately $49,000. GAMMA Investing LLC grew its stake in Core & Main by 61.1% in the 3rd quarter. GAMMA Investing LLC now owns 1,348 shares of the company’s stock valued at $60,000 after buying an additional 511 shares in the last quarter. Finally, Brown Brothers Harriman & Co. bought a new stake in Core & Main during the 2nd quarter valued at $76,000. 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.