Core & Main Inc [NYSE: CNM] surged by $0.77 during the normal trading session on while it closed the day at $42.98. The company report on February 8, 2024 at 8:30 AM that Core & Main Elects Stephen LeClair as Chairman of Board as Clayton, Dubilier & Rice Sells Remaining Stake.
Core & Main Inc. (NYSE: CNM), a leader in advancing reliable infrastructure with local service, nationwide, today announced that its board of directors has elected Stephen O. LeClair as the new chairman of the board, effective immediately. LeClair will continue serving as chief executive officer of Core & Main. James G. Castellano will serve as lead independent director, in addition to his responsibilities as the audit committee chair, and Kathleen M. Mazzarella will serve as chair of the nominating and governance committee.
In addition to these changes, James G. Berges, Nathan L. Sleeper, Jonathan L. Zrebiec and Ian A. Rorick, all affiliates of Clayton, Dubilier & Rice (CD&R), have resigned from Core & Main’s board after serving since 2017, when CD&R assumed a majority stake in Core & Main. CD&R sold its remaining stake in Core & Main in January 2024.
Core & Main Inc stock has also gained 2.19% of its value over the past 7 days. However, CNM stock has inclined by 38.82% in the 3 months of the year. Over the past six months meanwhile, it has gained 34.31% and gained 6.36% year-on date.
The market cap for CNM stock reached $8.24 billion, with 191.66 million shares outstanding and 191.32 million shares in the current float. Compared to the average trading volume of 3.63M shares, CNM reached a trading volume of 3318801 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to 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 $46.38 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 1.75. 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 Buy, with their previous recommendation back on January 08, 2024.
The Average True Range (ATR) for Core & Main Inc is set at 0.87, with the Price to Sales ratio for CNM stock in the period of the last 12 months amounting to 1.24. The Price to Book ratio for the last quarter was 4.21, with the Price to Cash per share for the same quarter was set at 0.53. Price to Free Cash Flow for CNM in the course of the last twelve months was 7.90 with Quick ratio for the last quarter at 1.46.
CNM stock trade performance evaluation
Core & Main Inc [CNM] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.19. With this latest performance, CNM shares gained by 6.28% in over the last four-week period, additionally plugging by 34.31% over the last 6 months – not to mention a rise of 89.67% 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 65.18, with the RSI for the last a single of trading hit 66.71, and the three-weeks RSI is set at 65.03 for Core & Main Inc [CNM]. The present Moving Average for the last 50 days of trading for this stock 39.68, while it was recorded at 42.03 for the last single week of trading, and 32.42 for the last 200 days.
Core & Main Inc [CNM]: An insightful look at the core fundamentals
Core & Main Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.46 and a Current Ratio set at 2.36.
Earnings per share (EPS) analysis for Core & Main Inc [CNM] stock
With the latest financial reports released by the company, Core & Main Inc posted 0.35/share EPS, while the average EPS was predicted by analysts to be reported at 0.32/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 9.40%. 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 11.53%.
Core & Main Inc [CNM]: Institutional Ownership
The top three institutional holders of CNM stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in CNM stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in CNM stock with ownership which is approximately 5.8325%.
