Core & Main Inc. [NYSE: CNM] stock went on a downward path that fall over -1.73% on Friday, amounting to a one-week price increase of more than 0.16%. The company report on December 13, 2022 that Core & Main Announces Fiscal 2022 Third Quarter Results.
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Core & Main Inc. (NYSE: CNM), a leading specialized distributor of water, wastewater, storm drainage and fire protection products, and related services, today announced financial results for the third fiscal quarter ended October 30, 2022.
Fiscal 2022 Third Quarter Highlights (Compared with Fiscal 2021 Third Quarter).
Over the last 12 months, CNM stock dropped by -37.20%. The one-year Core & Main Inc. stock forecast points to a potential upside of 36.21. The average equity rating for CNM stock is currently 2.50, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $4.83 billion, with 170.03 million shares outstanding and 168.10 million shares in the current float. Compared to the average trading volume of 787.50K shares, CNM stock reached a trading volume of 422949 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on 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 $30.27 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 2.50. 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.
Deutsche Bank have made an estimate for Core & Main Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on August 18, 2022. While these analysts kept the previous recommendation, Barclays raised their target price from $32 to $34. The new note on the price target was released on March 31, 2022, representing the official price target for Core & Main Inc. stock. Previously, the target price had yet another drop from $31 to $25, while BofA Securities kept a Underperform rating on CNM stock.
The Average True Range (ATR) for Core & Main Inc. is set at 0.68, with the Price to Sales ratio for CNM stock in the period of the last 12 months amounting to 0.74. The Price to Book ratio for the last quarter was 1.93, with the Price to Cash per share for the same quarter was set at 0.00. Price to Free Cash Flow for CNM in the course of the last twelve months was 47.75 with Quick ratio for the last quarter at 1.30.
CNM Stock Performance Analysis:
Core & Main Inc. [CNM] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.16. With this latest performance, CNM shares dropped by -7.16% in over the last four-week period, additionally sinking by -12.62% over the last 6 months – not to mention a drop of -37.20% in the past year of trading.
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 41.87, with the RSI for the last a single of trading hit 42.74, and the three-weeks RSI is set at 42.04 for Core & Main Inc. [CNM]. The present Moving Average for the last 50 days of trading for this stock 20.85, while it was recorded at 19.24 for the last single week of trading, and 22.69 for the last 200 days.
Insight into Core & Main Inc. Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and Core & Main Inc. [CNM] shares currently have an operating margin of +8.73 and a Gross Margin at +22.82. Core & Main Inc.’s Net Margin is presently recorded at +3.32.
Return on Equity for this stock inclined to 16.61, with Return on Assets sitting at 4.14.
Core & Main Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.30 and a Current Ratio set at 2.50.
Core & Main Inc. [CNM] Insider Position Details
There are presently around $4,572 million, in the hands of institutional investors. The top three institutional holders of CNM stocks are: CLAYTON, DUBILIER & RICE, LLC with ownership of 160,796,745, which is approximately -6.403% of the company’s market cap and around 0.02% of the total institutional ownership; SELECT EQUITY GROUP, L.P., holding 11,379,436 shares of the stock with an approximate value of $219.74 million in CNM stocks shares; and JANUS HENDERSON GROUP PLC, currently with $152.01 million in CNM stock with ownership of nearly 18.262% of the company’s market capitalization.
Positions in Core & Main Inc. stocks held by institutional investors increased at the end of December and at the time of the December reporting period, where 125 institutional holders increased their position in Core & Main Inc. [NYSE:CNM] by around 12,606,412 shares. Additionally, 47 investors decreased positions by around 12,006,168 shares, while 14 investors held positions by with 212,157,363 shares. The mentioned changes placed institutional holdings at 236,769,943 shares, according to the latest SEC report filing. CNM stock had 48 new institutional investments in for a total of 2,958,361 shares, while 14 institutional investors sold positions of 442,430 shares during the same period.