Core & Main (NYSE:CNM) Reaches New 12-Month Low – Should You Sell?

Core & Main, Inc. (NYSE:CNM)’s share price hit a new 52-week low on Wednesday . The stock traded as low as $42.12 and last traded at $42.0810, with a volume of 122327 shares. The stock had previously closed at $43.98.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on CNM shares. The Goldman Sachs Group restated a “neutral” rating and set a $24.00 target price on shares of Core & Main in a research report on Thursday, June 11th. Wall Street Zen upgraded shares of Core & Main from a “hold” rating to a “buy” rating in a research report on Saturday, July 25th. William Blair initiated coverage on Core & Main in a research note on Thursday, July 23rd. They issued a “market perform” rating for the company. Finally, Citigroup cut their price target on Core & Main from $54.00 to $53.00 and set a “neutral” rating for the company in a research note on Thursday, June 11th. Seven investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $56.70.

Core & Main Stock Performance

The stock has a fifty day simple moving average of $47.07 and a two-hundred day simple moving average of $50.46. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.31 and a current ratio of 2.31. The stock has a market cap of $8.42 billion, a price-to-earnings ratio of 18.44, a P/E/G ratio of 1.46 and a beta of 0.91.

Insider Transactions at Core & Main

In other Core & Main news, Director James D. Hope bought 2,067 shares of the stock in a transaction on Monday, July 6th. The stock was 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. The trade was a 21.23% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 1.51% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Core & Main

A number of hedge funds have recently made changes to their positions in CNM. TD Waterhouse Canada Inc. acquired a new position in Core & Main during the 4th quarter worth approximately $26,000. EverSource Wealth Advisors LLC boosted 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 buying an additional 269 shares in the last quarter. Whittier Trust Co. bought a new stake in shares of Core & Main during the fourth quarter worth $28,000. Cubist Systematic Strategies LLC grew 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 worth $35,000 after buying an additional 524 shares during the last quarter. Finally, Quarry LP acquired a new position in shares of Core & Main during the fourth quarter worth $38,000. 94.19% of the stock is currently owned by institutional investors and hedge funds.

Core & Main Company Profile

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.