Core & Main Inc [CNM] moved down -0.88: Why It’s Important

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Core & Main Inc [NYSE: CNM] loss -0.88% or -0.28 points to close at $31.45 with a heavy trading volume of 23831379 shares. The company report on November 9, 2023 at 8:00 AM that Core & Main Signs Agreement to Acquire Granite Water Works Inc.

Core & Main Inc. (NYSE: CNM), a leader in advancing reliable infrastructure with local service, nationwide, has entered into a definitive agreement to acquire substantially all of the assets of Granite Water Works Inc., a provider of water, wastewater and storm drainage products in Minnesota.

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“The strong local relationships and commitment to dependable service that Granite Water Works will bring to Core & Main will greatly amplify our capabilities and presence in central Minnesota,” said Steve LeClair, chief executive officer of Core & Main.

It opened the trading session at $31.76, the shares rose to $31.98 and dropped to $31.33, the range by which the price of stock traded the whole day. The daily chart for CNM points out that the company has recorded 17.13% gains over the past six months. However, it is still -67.73% lower than its most recent low trading price.

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If we look at the average trading volume of 1.96M shares, CNM reached to a volume of 23831379 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 $37.85 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 0.82. The Price to Book ratio for the last quarter was 3.13, 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 6.49 with Quick ratio for the last quarter at 1.53.

Trading performance analysis for CNM stock

Core & Main Inc [CNM] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.38. With this latest performance, CNM shares dropped by -1.29% in over the last four-week period, additionally plugging by 17.13% over the last 6 months – not to mention a rise of 53.79% 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 57.48, with the RSI for the last a single of trading hit 59.37, and the three-weeks RSI is set at 55.80 for Core & Main Inc [CNM]. The present Moving Average for the last 50 days of trading for this stock 30.03, while it was recorded at 31.29 for the last single week of trading, and 27.65 for the last 200 days.

Core & Main Inc [CNM]: A deeper dive into fundamental analysis

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.

Core & Main Inc [CNM]: An earnings per share (EPS) analysis

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%.

An analysis of Institutional ownership at 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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