Wolfe Research lifts Core & Main Inc [CNM] price estimate. Who else is bullish?

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Core & Main Inc [NYSE: CNM] slipped around -0.28 points on Tuesday, while shares priced at $30.96 at the close of the session, down -0.90%. The company report on November 6, 2023 at 4:37 PM that Core & Main Announces Secondary Offering and Share Repurchase.

Core & Main Inc. (NYSE: CNM), a leader in advancing reliable infrastructure with local service, nationwide, today announced the launch of an underwritten secondary public offering of 19 million shares of its Class A common stock by certain selling stockholders. The selling stockholders have granted the underwriter a 30-day option to purchase up to an additional 2.85 million shares of Class A common stock. Core & Main is not offering any shares of Class A common stock in the offering and will not receive any proceeds from the offering. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed.

In addition, Core & Main announced that concurrent with the completion of the offering, it expects to repurchase and redeem, as the case may be, from the selling stockholders 3,125,728 shares of its Class A common stock and 1,874,272 partnership interests of the Company’s subsidiary Core & Main Holdings, LP (together with a corresponding number of shares of Class B common stock of Core & Main) at the same per share price to be paid by the underwriter to the selling stockholders in the offering. The closing of the repurchase is subject to the closing of the offering. The closing of the offering is not conditioned upon the closing of the repurchase.

Core & Main Inc stock is now 60.33% up from its year-to-date (YTD) trading value. CNM Stock saw the intraday high of $31.28 and lowest of $29.60 per share. The company’s 52-week high price is 33.32, which means current price is +61.25% above from all time high which was touched on 08/30/23.

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Compared to the average trading volume of 1.69M shares, CNM reached a trading volume of 7791414 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 $37.69 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 1.92. 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.

Wolfe Research have made an estimate for Core & Main Inc shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on October 12, 2023.

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The Average True Range (ATR) for Core & Main Inc is set at 0.85, with the Price to Sales ratio for CNM stock in the period of the last 12 months amounting to 0.81. The Price to Book ratio for the last quarter was 3.08, with the Price to Cash per share for the same quarter was set at 0.12. Price to Free Cash Flow for CNM in the course of the last twelve months was 6.39 with Quick ratio for the last quarter at 1.53.

How has CNM stock performed recently?

Core & Main Inc [CNM] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.93. With this latest performance, CNM shares gained by 1.47% in over the last four-week period, additionally plugging by 15.74% over the last 6 months – not to mention a rise of 54.88% 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 54.66, with the RSI for the last a single of trading hit 55.52, and the three-weeks RSI is set at 53.61 for Core & Main Inc [CNM]. The present Moving Average for the last 50 days of trading for this stock 30.12, while it was recorded at 31.29 for the last single week of trading, and 27.50 for the last 200 days.

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 +11.74 and a Gross Margin at +24.88. Core & Main Inc’s Net Margin is presently recorded at +5.50.

Return on Total Capital for CNM is now 20.83, given the latest momentum, and Return on Invested Capital for the company is 11.81. Return on Equity for this stock inclined to 23.83, with Return on Assets sitting at 7.83. When it comes to the capital structure of this company, Core & Main Inc [CNM] has a Total Debt to Total Equity ratio set at 93.53. Additionally, CNM Total Debt to Total Capital is recorded at 48.33, with Total Debt to Total Assets ending up at 33.29. Long-Term Debt to Equity for the company is recorded at 89.58, with the Long-Term Debt to Total Capital now at 46.29.

Reflecting on the efficiency of the workforce at the company, Core & Main Inc [CNM] managed to generate an average of $81,333 per employee. Receivables Turnover for the company is 7.23 with a Total Asset Turnover recorded at a value of 1.42.Core & Main Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.53 and a Current Ratio set at 2.59.

Earnings analysis for Core & Main Inc [CNM]

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CNM. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Core & Main Inc go to 10.43%.

Insider trade positions for Core & Main Inc [CNM]

The top three institutional holders of CNM stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2579%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $201.66 billion in CNM stocks shares; and BERKSHIRE HATHAWAY INC, currently with $177.59 billion in CNM stock with ownership which is approximately 5.7994%.

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