Wall Street Analyst Downgrade Core & Main Inc. [CNM]. What else is Wall St. saying


Core & Main Inc. [NYSE: CNM] slipped around -1.42 points on Thursday, while shares priced at $25.35 at the close of the session, down -5.30%. The company report on January 5, 2022 that Core & Main Announces Pricing of Secondary Offering.

Core & Main, Inc. (NYSE: CNM), a leading specialized distributor of water, wastewater, storm drainage and fire protection products, and related services, announced the pricing of its previously announced underwritten secondary public offering of 20,000,000 shares of its Class A common stock by certain selling stockholders at a public offering price of $26.00 per share. The selling stockholders have granted the underwriters a 30-day option to purchase up to an additional 3,000,000 shares of Core & Main’s Class A common stock. Core & Main will not receive any proceeds from the offering. The offering is expected to close on Jan. 10, 2022, subject to customary closing conditions.

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Goldman Sachs & Co. LLC, Credit Suisse and J.P. Morgan are acting as lead book-running managers for the offering. BofA Securities, Baird, Citigroup, RBC Capital Markets, Barclays and Deutsche Bank Securities are acting as additional book-running managers.

Compared to the average trading volume of 387.04K shares, CNM reached a trading volume of 10670048 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Core & Main Inc. [CNM]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CNM shares is $33.62 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CNM stock is a recommendation set at 2.40. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Citigroup have made an estimate for Core & Main Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on December 08, 2021. While these analysts kept the previous recommendation, Berenberg raised their target price to Hold. The new note on the price target was released on October 05, 2021, representing the official price target for Core & Main Inc. stock. Previously, the target price had yet another raise from $28 to $30, while RBC Capital Mkts kept a Sector Perform rating on CNM stock.

The Average True Range (ATR) for Core & Main Inc. is set at 1.89, with the Price to Sales ratio for CNM stock in the period of the last 12 months amounting to 1.51. The Price to Book ratio for the last quarter was 5.70, with the Price to Cash per share for the same quarter was set at 0.27.

How has CNM stock performed recently?

Core & Main Inc. [CNM] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -17.56.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CNM stock in for the last two-week period is set at 37.98, with the RSI for the last a single of trading hit 31.77, and the three-weeks RSI is set at 41.67 for Core & Main Inc. [CNM]. The present Moving Average for the last 50 days of trading for this stock 28.09, while it was recorded at 28.11 for the last single week of trading.

Core & Main Inc. [CNM]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Core & Main Inc. [CNM] shares currently have an operating margin of +5.13 and a Gross Margin at +20.35. Core & Main Inc.’s Net Margin is presently recorded at +1.22.

Return on Total Capital for CNM is now 6.39, given the latest momentum, and Return on Invested Capital for the company is 1.55. Return on Equity for this stock inclined to 6.77, with Return on Assets sitting at 1.31. When it comes to the capital structure of this company, Core & Main Inc. [CNM] has a Total Debt to Total Equity ratio set at 355.16. Additionally, CNM Total Debt to Total Capital is recorded at 78.03, with Total Debt to Total Assets ending up at 66.60. Long-Term Debt to Equity for the company is recorded at 346.88, with the Long-Term Debt to Total Capital now at 76.21.

Receivables Turnover for the company is 6.87 with a Total Asset Turnover recorded at a value of 1.07.Core & Main Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.20 and a Current Ratio set at 2.00.

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Insider trade positions for Core & Main Inc. [CNM]

85 institutional holders increased their position in Core & Main Inc. [NYSE:CNM] by around 228,977,014 shares. Additionally, 0 investors decreased positions by around 0 shares, while 0 investors held positions by with 0 shares. The mentioned changes placed institutional holdings at 228,977,014 shares, according to the latest SEC report filing. CNM stock had 85 new institutional investments in for a total of 228,977,014 shares, while 0 institutional investors sold positions of 0 shares during the same period.