Core & Main Inc [NYSE: CNM] gained 3.43% or 1.98 points to close at $59.75 with a heavy trading volume of 3374486 shares. The company report on April 1, 2024 at 4:51 PM that Core & Main Completes Acquisition of ACF West Inc.
Core & Main Inc. (NYSE: CNM), a leader in advancing reliable infrastructure with local service, nationwide, has closed on its previously announced acquisition of NW Geosynthetics Inc., doing business as ACF West Inc. ACF West is a leading distributor of geosynthetic materials and provider of soil stabilization solutions with six locations across Oregon, Washington, Idaho and Utah.
The daily chart for CNM points out that the company has recorded 109.43% gains over the past six months.
If we look at the average trading volume of 3.13M shares, CNM reached to a volume of 3374486 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 $60.58 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 1.82. 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 new note on the price target was released on October 12, 2023, representing the official price target for Core & Main Inc stock. Previously, the target price had yet another raise to $40, while Northcoast analysts kept a Buy rating on CNM stock.
The Average True Range (ATR) for Core & Main Inc is set at 1.37, with the Price to Sales ratio for CNM stock in the period of the last 12 months amounting to 1.71. The Price to Book ratio for the last quarter was 7.89, with the Price to Cash per share for the same quarter was set at 0.01. Price to Free Cash Flow for CNM in the course of the last twelve months was 11.15 with Quick ratio for the last quarter at 1.30.
Trading performance analysis for CNM stock
Core & Main Inc [CNM] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 4.31. With this latest performance, CNM shares gained by 21.42% in over the last four-week period, additionally plugging by 109.43% over the last 6 months – not to mention a rise of 158.66% 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 81.59, with the RSI for the last a single of trading hit 83.56, and the three-weeks RSI is set at 80.04 for Core & Main Inc [CNM]. The present Moving Average for the last 50 days of trading for this stock 48.04, while it was recorded at 57.76 for the last single week of trading, and 36.71 for the last 200 days.
Core & Main Inc [CNM]: A deeper dive into fundamental analysis
Core & Main Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.30 and a Current Ratio set at 2.29.
Core & Main Inc [CNM]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Core & Main Inc posted 0.56/share EPS, while the average EPS was predicted by analysts to be reported at 0.46/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 21.70%. 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%.
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 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in CNM stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in CNM stock with ownership which is approximately 5.8386%.
